Wednesday, September 14, 2016

XIV - Ready to Breakout - Inverse Head and Shoulders!

XIV has been flirting with a breakout of a large inverse head and shoulders pattern.  Very bullish situation with the red neckline sloped upwards, and forks pointing much higher.

XIV is testing multiple strong supports, and has room for significant upside into the US elections.  The November target is shown.

Daily Chart

No sign of a bottom yet for UVXY.  Tremendous downside ahead.

Daily Chart

Friday, September 9, 2016

$SPX - Destined to Rise into the Election!

A decline was due.  SPX obeyed the Cycle and declined into the turn date.  Today, SPX is testing strong geometric support.  There is little room for downside.

SPX is destined to rise higher into the election!

The next three turn dates for SPX are shown on the chart.   

60min Chart