Pages

Wednesday, April 26, 2017

$SPX - Wall of Resistance Reached!

SPX has spiked up to test 2,400 as anticipated. 

However, the spike has been too much and too fast.  The gap is likely to fill next as shown on the chart.

The roller coaster to continue...

60min Chart
















Before:

April 10, 2017 analysis:

"SPX should be ready this week for another attempt to break channel resistance.  The next strong resistance is located at 2,400 which is likely to be tested this month."

60min Chart

















41 comments:

  1. SPX is peaking at the horizontal resistance.

    ReplyDelete
  2. The picture is not so simple for XIV. Frankly the XIV chart looks considerably stronger. I'm not seeing excessive complacency at this time.

    UVXY is likely to be significantly lower on the second spike for SPX in the chart shown in May...

    ReplyDelete
  3. i believe at end of day we will be trading 2405

    ReplyDelete
  4. Next low for SPX May 5th or May 8th. 2,355 SPX target. Possibly even as low as 2,340.

    ReplyDelete
  5. so the plan is to buy uvxy in the 13.50 area correct

    ReplyDelete
    Replies
    1. Yes, I plan to enter UVXY for a pop.

      Delete
    2. UVXY $13's. Expecting it to pop next week, but there is no rush to enter.

      Delete
  6. SVXY intraday buy signal...whipsaw action...ECB tomorrow before the US market opens...

    ReplyDelete
    Replies
    1. SVXY intraday sell signal...definite whipsaw action...poised for a more dramatic move in short order...

      Delete
  7. i believe this is the time to buy uvxy for approx 60% gain by end of may

    ReplyDelete
  8. XIV has reached the white line, but it's rising resistance unlike SPX with much weaker horizontal resistance.

    That is why I'm having patience with UVXY entry.

    ReplyDelete
    Replies
    1. are your expectations to buy friday or monday

      Delete
    2. Turn date is coming due tomorrow April 28th.

      Delete
  9. SC.. When do you plan to buy UVXY??

    ReplyDelete
    Replies
    1. It's really quiet so I'm still waiting.

      Delete
  10. SC, u see SPX topped and start to drop?

    ReplyDelete
  11. do you have any other fractals for the SPX? could this thing come crashing down in the next 2 -3 months?

    ReplyDelete
    Replies
    1. Currently SPX is in a choppy period of whipsaws up and down. Yes, the overall picture is bearish, and the choppy period will resolve to the downside.

      Having said that, it's best to show the moves one step at a time.

      Delete
  12. its looking very 1987 crashy like

    ReplyDelete
  13. yes i did.. if it doesnt play out i ll have to revaulate...and if i cant figure it out... try and exit as soon as i can

    ReplyDelete
    Replies
    1. Ive been trading in and out
      I will probally buy in the 13.70
      We will see

      Delete
  14. sc at what point would you buy uvxy my indicators say 12.80

    ReplyDelete
  15. i exited early this morning but still looking for entry today or probably tomorrow ..maybe until fomc is over

    ReplyDelete
  16. if you grab the bottoms from feb 15 to march 21 all the way across its looking like 11

    ReplyDelete
  17. I'm expecting XIV to flatten off as the week progresses. So once I see that occur I'll be taking a position, and UVXY will be ready for a nice pop into the next turn date of May 19th.

    ReplyDelete
  18. The turn dates keep turning.
    28th?
    5th for a low?
    Now the 19thth

    ReplyDelete
  19. SC, what's your take on SPX, some are calling for breakout and new highs, but iwm seems to be leading the way down??

    ReplyDelete
    Replies
    1. SPX looks weak, basically flat. Flat and dip for the next 3 weeks.

      Delete
    2. with the vix being so low hit 9.90 wondering if uvxy could be bought here at this level

      Delete
    3. I like what I'm seeing for UVXY.

      Delete
    4. what do you think the low could be for uvxy because i buy big i dont mind buying here and averaging in your thoughts

      Delete
    5. Om feeling the same bought some at 13

      Delete
    6. i feel tyhe same thats why i bought at 13

      Delete