Pages

Monday, May 21, 2018

SPX - Breakout - Whipsaw Phase to Intensify

SPX found strong support as expected and has rallied up to test the white trendline identified in April. 

SPX is breaking out.  However, the whipsaw phase is about to intensify.    

SPX Daily

















Before:

April 2, 2018

"SPX is approaching long term channel support and testing the 50 weekly moving average at 2,565.  Expect a big bounce soon as least up to channel resistance as identified."

30min Chart















50 comments:

  1. SPX is going to be an exciting market in coming months. The whipsaws are becoming larger as this phase accelerates.

    ReplyDelete
    Replies
    1. Thank you SC - so SPX is clearly moving up to 2830 now. When does the second leg down begin?

      Delete
    2. At this point it's too early. Still in the whipsaw phase.

      Delete
    3. Ok interesting - I thought the second leg down was supposed to start soon? Is the whipsaw phase taking longer than expected?

      Delete
    4. I look at SVXY and SPX separately. The timing is different for each. For example one may reach a higher high while the other does not. The second leg down should start at a different time for each.

      Delete
    5. OK thank you SC - we are still looking for 2830 SPX this month for the next long UVXY trade?

      Delete
  2. i agree brother 2830 should come then down to 2600?
    complicated

    ReplyDelete
    Replies
    1. Yes, that is correct.

      Delete
    2. i guess we will wait for top and short

      Delete
  3. Meanwhile bitcoin trying to levitate to avoid the dreaded death cross. It's not going to be able to do it...

    ReplyDelete
  4. i will continue to buy big dips and then sell to mee looks like 2660 or 2830 ?

    ReplyDelete
  5. sc do you have turn date botton on june 1st?

    ReplyDelete
  6. SC - we are still looking for 2830 SPX soon?

    ReplyDelete
    Replies
    1. Yes, SPX run is coming! Second leg still months away.

      Delete
  7. 1 June Bradley Date is fast approaching...and RUT is currently at an All Time High...Coincidence? Hmmmm...perhaps the Majikal VooDoo correlation between Dr Bradly and small caps RUT will continue with an upcoming change in trend lower, perhaps lasting into August...then again, maybe not... but once again, it's now time to Be Careful!

    ReplyDelete
  8. The S&P could drop down to 2672 2700 after that I believe we move higher

    ReplyDelete
  9. sc is there any way you could show the top chart in a much longer version so i could see better

    ReplyDelete
  10. SPX is following the 2018 Model posted March 8th. The sideways move is almost over and another strong rally is coming for SPX to the next target of 2,830.

    ReplyDelete
    Replies
    1. Thanks SC! From 2830 SPX you think it will selloff again to 2600 for the next whipsaw?

      Delete
    2. Should only see a small pullback from 2,830 SPX, then run higher to terminate the rally.

      Delete
    3. Are you expecting new highs to terminate the rally SC or a lower high than 2873?

      Delete
    4. New highs for SPX. Still on track for 2,950 target. Other indices such as the DOW won't be able to make a higher high.

      Delete
  11. i bought the dip yesterday do you plan on buying upro or something else?

    ReplyDelete
    Replies
    1. Yes, UPRO looks good with the sideways move ending and the UPRO split complete.

      Delete
    2. what price would you buy upro `or are you waiting for next week

      Delete
    3. Price looks attractive here for UPRO. Probably see $49 in a few days. Sideways move is almost over. Maybe a chance at $46 if there is a dip this month, but it is very close to breaking out to the next level.

      Delete
  12. Do you notice price action for the markets after all UPRO splits? tended to trickle down for a few weeks after the split: https://imgur.com/a/SyRSR0D

    ReplyDelete
  13. Sc are you expecting a small dip here I'm still long here from the bottom I've been buying spxl on every dip when do you plan on going long

    ReplyDelete
    Replies
    1. SPX should edge a little higher this week to around 2,760 then small pullback to 2,710.

      Delete
    2. SINCE WE HIT 2780 DO YOU THINK THAT SMALL FROP WILL BE 2720 NOW

      Delete
  14. Done!

    SCJune 1, 2018 at 8:15 AM

    "Price looks attractive here for UPRO. Probably see $49 in a few days."

    ReplyDelete
    Replies
    1. im still in looking to sell soon

      Delete
    2. Wonder if were going to 2800 SPX before pulling back a little?

      Delete
    3. SPX stall here and small pullback next.

      Delete
  15. RUT still making new all time highs while Dr Bradley's date has come and gone...Coincidence? Hmmmm...well, all models are wrong, some are useful. So, while the VooDoo Majik may be gone, SC's keen insight seems to be on target...but, always in motion the future is, so Be Careful!

    ReplyDelete
  16. SC,

    UVXY finally hit $10.

    Is now a decent entry price or $8 in the cards?

    ReplyDelete
    Replies
    1. At least I am starting to monitor UVXY again. Small pop is likely, but much too early for a big move.

      Delete
  17. seems like the bulls could push any button they want

    ReplyDelete
  18. is everybody alive lol bitcoin getting rocked

    ReplyDelete
    Replies
    1. yea scaling in some SPX shorts here 2785. Should pullback soon...

      Delete
    2. Doesn't seem like we are going to make it to 2830...might be too much resistance below 2800

      Delete
  19. We are seeing normal price action. Periods of high volatility, such as we saw in February, are followed by periods of low volatility.

    ReplyDelete
  20. Meanwhile bitcoin is testing support once again. However the bounces are getting smaller. It still needs to capitulate.

    ReplyDelete
    Replies
    1. Could you elaborate on that?

      At what price bitcoin is a buy in your view?

      Delete
  21. Sc it seems like the S&P is going up 16 days and dropping 16 days and drop it what is your Target by the 29th of this month on the S&P 500 or after July 5th

    ReplyDelete
  22. SVXY at 14 and at top of resistance - should pull back soon?

    ReplyDelete