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Tuesday, September 5, 2017

$SPX - 2,500 September

SPX is continuing to grind up towards 2,500 and is likely to test that level in September. 

It is the same pattern seen all year.  Higher highs and higher lows with a steady grind up towards 2,500.   

Daily Chart

38 comments:

  1. I have the turn date on September the 12th. Second half of September bearish.

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  2. I added some more XIV this morning on the "nuclear" dip. Thank you North Korea haha!

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  3. i believe xiv could go as low as 65 by end of September (the lowest is 55) then back up to 90 by Nov..topping through December then that the final top with it slowing coming off all through 2018. There is also that 1987 crash fractal that has the spx crashing in 2 weeks, but i dont have much faith in that one. It's probably all up to the central banks and what they decide :-|

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  4. Eric Hadik saying three danger periods, one in august, second from sept 5 to 29 and third one he did not say, he says decennial pattern bad from july to NOv, so may be nob

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  5. were not going much lower here we should bounce from 2425 area

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  6. Hi SC, it seems that XIV is finding a lot of resistance around 81-83 and Sept 12 approaching next week. Where do you see support on the downside? thx

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    1. Do you think we hit 66 on this before we go to 100 do your thoughts

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    2. so you would be willing to hold it even if it drops to 66 with out selling

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    3. No, I plan to take profit.

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    4. SC, at what level are eyeing a profit on XIV? thx

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    5. The original target $88 for XIV.

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  7. Perfect! Rallying into the turn date September 12th. Planning to take profit and look to short once SPX 2,500.

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    1. Sounds good SC, although SPX still about 18 points away from target, but might get close by Sept 12.

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    2. Let's see next couple days.

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    3. Usually up into OPEX (15th). We'll see. The only OPEX I remember collapsing is in Summer of 2015.

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    4. the last 4 sept. opex's were red....

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    5. Thanks for the correction. I just remember 2015 was good to me.

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  8. SC, this time spx from 2500 : how low it will go

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    1. Same as shown on the chart. High around 2,500 and drop to 2,440 SPX.

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    2. SC, very interest to see SPX make ATH but XIV can barely get halfway - stuck under the 50dma

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    3. Yes, I think it'll pop over the moving average, but still XIV is giving a hint.

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  9. Still looking at $100 for sell or $87 as more conservative target?

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    1. I expect we will see the higher numbers later in the Cycle. In the short term though there is potential for a drop this month. Probably best to use the conservative target of $88.

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    2. Out 89, see what happens tomorrow

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  10. Hi SC, did we see a local top SPX on sep 12th turn date ?

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    1. We'll see. Still may be a little more upside.

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  11. Replies
    1. Tough to say really. It has potential here, but the risk is if it continues lower then could get stuck in it for a while.

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  12. http://www.marketwatch.com/story/hedge-fund-trader-bets-millions-that-traders-are-about-to-get-whipsawed-by-volatility-2017-09-14

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