Little or no downside is expected for SPX this week, and a sharp rally is imminent for SPX into the same time period.
60min Chart
UVXY had a strong run and is due to retrace deeply. The June upside target and analysis will be coming soon.
60min Chart
I'm not a big fan of FB, but at $33 with bullish SPX charts in place the price is fairly attractive.
ReplyDeleteThe deal was timed for a bottom in the market imo. FB didn't need a strong market to be oversubscribed. So why not do it at a bottom, and then see it rise along with the markets.
Xiv finally moving! Bought one day early. Almost back to even. Nice call SC.
ReplyDeleteXIV is at the spot marked chop. There probably is not much upside in the next few days short term, and a retest of the low is likely. Soon, I may look to sell and re-enter lower.
ReplyDeleteme too bought one day to early...but so far so good! congrats SC for insisting with your call, but still a long way from your XIV entry. Lets see if we are in the right side when the crash comes, not so sure if its worth to risk 80-100 points against 300 drop SPX. Good luck every one!!
ReplyDeleteXIV time for a few weeks, and then June should be interesting. All the best to you as well.
DeleteInteresting comments made here as well. Thanks SC
ReplyDeletehttp://humblestudent777.blogspot.com/
Hi SC
ReplyDeleteWondering what your take on today market action? think we going to go higher or lower tomorrow in your forecast with SPY? cause we already almost reach your targets lol with UVXY
Thanks!
In the short run I don't think there is much more to rally. Maybe a little more tomorrow. Then SPX/XIV dip again for a few days.
ReplyDeleteZigZag, this one's for you.
ReplyDelete[/ES]
http://s14.postimage.org/th5cdlian/oh_wow.png
Looks good GG...Not sure if we make another low though. We had multiple areas align for a low on Friday and I still think we will see new highs by September.
Deletehttp://tinyurl.com/6sc884k
I think another low is possible, just can't be sure if it's a new low, or just a secondary.
Deleteanyways, /ES has been on a cycle back to Feb.
I'm looking for turn dates of 6/6 & 6/26.
did I mention I love messing with your charts?
;-)
http://s13.postimage.org/sfztbri6t/May_21_2012.png
SC , GREEAAATTT WORK!!!! hey but don't forget THE CARDINAL rule of trading....GAPS GET FILLLED!!! look at your UVXY chart and you'll see a hole on May 14...around $15ish...that'll be my target to get in when June rolls around...thanks for all you do...bless you bud!!
ReplyDeleteThank you. I see that one. I still think we're in for some chop next.
DeleteAstroCycle predicting downturn into June and miners cycle looking weak.
ReplyDeletehttp://changeintrend.wordpress.com/
My friend echen at Humblestudent blog has been providing great cycle work on the markets for years. Please see his work at
ReplyDeletehttp://humblestudent777.blogspot.com/
marketcycles79
marketcycles79
ReplyDeleteWe get YOUR point...............HOW MANY TIMES you gonna pump your site!??? Give us a break! gj
Sold XIV. There is likely a lower entry coming.
ReplyDeleteSC, Could you please ban those who promote their own sites here? Is that possible?
ReplyDeleteUVXY hit that white trendline. That may act as support.
ReplyDeleteSC, would you enter UVXY for at this stage? Market seem quite bullish today and the housing report has helped. Japan downgrade seems to have no effect.
ReplyDeleteUVXY only 40 cents from that red target. I may buy some there.
ReplyDeleteI could see UVXY bouncing off of $16.50 area back to $20 or so.
ReplyDeleteHi SC
Deletewhat time frame you seeing this bounce for UVXY? today? or after this week?
Thanks!
It could start to bounce today/tomorrow. I suspect the fast action may slow down.
DeleteSCMay 18, 2012 12:36 PM
ReplyDelete"The reason I'm confident that the market will bounce well out of this low is that my price pattern called for the waterfall move late in April. The market confirmed, and we've seen the waterfall move.
The pattern also shows the big bounce that comes next, and it is going to be just as surprising."
your contradicting youself here...you saying UVXY will rise today and tomorrow and same time you expecting market also to go higher and that is too surprising upside? so not sure which side you are on right now.
ReplyDeleteThanks
The market is due to retrace short term, but continue to rise overall.
DeleteBought UVXY at $16.51.
ReplyDeleteI HOPE YOU ALL notice that I have NEVER done that here
ReplyDeleteIve only offered brief comments on the mkt;
Oh
Some sorry ### SICK puppy has been sending me HAHAHAHA emails
I sincerely hope its NO ONE FROM HERE !!!
Thnx
Jay
Nooooo, why would somebody send you such emails Jay? Can't be because of your claimed 80% success rate surely?
DeleteBTW, did your long get stopped out last Friday?
16.51 low is 16.50 and traded there for half a second... wow your good
ReplyDeleteI was watching that red line closely, and sure enough it bounced off it. Would be nice if things always lined up that way lol!
Deleteno sarcasm... i see time stamp ..great entry
ReplyDeleteUVXY came down even faster than I thought it would on the chart. That does have important implications. I think it'll bounce up to around $20 roughly then a lower low in the $15's.
ReplyDeleteHi SC
DeleteCongrats on that buy, that is awesome buy.
Let us make some $.
Thanks!
Yes, let's see if we can get into a rhythm here and rack up some trades.
Deleteso am I dumb to be holding on to my HVI?
ReplyDeleteI just think the market is due to retrace here short term on the way up overall. So I am just making some short term trades. I'll be back in XIV once UVXY bounces up around that $20.
DeleteUVXY bounced back up to the white trendline. That may provide some resistance for today. Perhaps things settle down here.
ReplyDeleteHVU/UVXY seems to be gaining traction again...I;ve made the switch.
ReplyDeleteSS76, joins, now the party will get started. ^_^
DeleteThanks!
the SPX just doesn't smell right......
ReplyDeleteSo you sold your XIV for loss?
Deleteyes.
Deletenow i've sold my HVU for a small gain....help make back some losses....now what to do next?
ReplyDeleteSPX was sputtering, but perhaps its rebounding?
SC,
ReplyDeleteSilver looks like all set to test recent low again...what do you see?
Thanks
It may have more to retrace short term but I still see it heading higher into June $31-32 area.
Deleteand now I bought it back at $4.81 after selling my $4.76 buy at $4.89.
ReplyDeleteok, sold it at $4.83...too nervous and probably missed a much bigger gain.
ReplyDeleteSS76,
DeleteI believe SC's first view of UVXY at 10's will come true before this month end, so don't panic...I have noticed SC's very first call is the best one, but rest of his calls are based on his day trading transactions and that is where people get confuse....I always stick with his long term first calls...
Thanks
Thanks Stockboom. I will try to remember that. I need to recoup some coin and figure HVI (XIV) is going to be the way to do it. Then switch to HVU and of the month.
DeleteBought again $4.73
ReplyDeleteSS76, you making them broker rich today LOL.
Deleteam still holding from the buy this morning around 4.75...not selling yet.
Ya, if I wasn't so far under water I would be happy.
ReplyDeleteSold at $4.85.
ReplyDeletesold to early?
Deleteway way way too early.
DeleteBack to HVI at $7.73
ReplyDeletewe may see the short term high tomorrow. let see how it goes.
DeleteSigh, here we go again. Underwater is not a nice feeling on any trade, but HVI so far has not been kind to me.
DeleteSold UVXY at $19.70.
ReplyDeletesolid trade SC.
ReplyDeleteI'll wait in cash likely overnight. Probably retrace first then $20.50 or so.
ReplyDeleteawesome trade !!!!
ReplyDeleteI'd buy back in $18's.
ReplyDeleteThanks guys. I'm happy with that for today. Nice way to start the week.
ReplyDeleteBought XIV at $8.92.
ReplyDeleteHi SC
Deletequit buying all the good entry LOL. jking.
congrats on another awesome entry.
Thanks!
What triggered the spike?
ReplyDeleteStocks Turn Lower, Euro Falls as Former Greek PM Papademos Says Preparations for Greece Euro Exit Being Considered (Click for story)
Deletealso drop ended on the %50 retrace of the first measured leg...36 SNP points to 1328 - 18 = 1310
Deleteand shot up at the close...1317. now a run to 1368 should play out...36 X 1.62 = 58.3 + 1310 (bottom) = 1368.. let's seee.
Looks like market is following sharp drop in Euro on close.
ReplyDeleteTomorrow's open will be telling...
I think if Greece leave Europe, then Euro will go higher...since bad apple is out they have better handle on Euro..agreed? just my thinking...
ReplyDeleteSC the dollar seems to be holding Gold back right now, what are your thoughts on the two of them?
ReplyDeleteYes, the dollar has been a dominant force in May. I don't think the dollar has much more upside in the near term though. Later in the year it can go much higher.
DeleteSad SC you dont use twitter, would have been nice to see your intraday trade, that was a perfect entry-exit on uvxy, congrats!!
ReplyDelete