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Thursday, May 10, 2018

SVXY - Before/After - Target Achieved!

SVXY has established the trading range as anticipated, and the target identified March 22, 2018 has been achieved today.

A band of horizontal resistance is shown. 

60min Chart
 

 
 
Before:

March 22, 2018 analysis:

"SVXY is declining towards short term support.  A trading range has established in the $11 to $13 range, and that is expected to continue into May."

30min Chart















40 comments:

  1. SPX target has also been reached at the white line today!

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    Replies
    1. SC - seems like we may extend a bit further for SPX/SVXY here? Do you have thoughts as to timing of when the second leg down may begin - later this month?

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    2. SVXY top out in the $13's. SVXY target $10.60 but big bounce around $11.25.

      Second leg down is starting...

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    3. Second leg starting down now?

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    4. Due to start soon. I don't see urgency today, but yes SVXY near the top of the range.

      Trading range $13's to $10.60.

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    5. Thanks SC - seems like if they force SPX back up to 2800, we may be able to enter UVXY between 10-12

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  2. What will be spx target when u expect it

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    Replies
    1. I'm working on an update for SPX. I'll post the target shortly.

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  3. In March I had estimated the second leg down due to start May 14th, and I'm very pleased with the result.

    We are close in timing. Next turn date May 17th.

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    Replies
    1. SCMarch 23, 2018 at 9:34 PM

      "Timing: The whipsaw phase has begun and is due to last 7 weeks ending May 11th. The second leg down is due to start May 14th and last 4 weeks, and decline each of those 4 weeks."

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    2. Many thanks SC - Plan on getting short next week then once UVXY is in the target area!

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    3. SC if today is a turn date - I assume it will be a bottom before we go higher to SPX 2830 by end of month?

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  4. Also in March the cycle estimated June 8th for a low. What is interesting is that the Trump - North Korea meeting has now been set for June 12th!!

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  5. Volatility rise look pretty minimal for a bigger second leg down with these targets

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    Replies
    1. Agree. No bottom in June, just the beginning of the decline...

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    2. so you are expecting what in may?

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    3. SC, when you said the beginning of the decline, do you mean the SPX?

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    4. I look at both SVXY and SPX independently.

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  6. Prob Looks like big move down next week
    From 15 to 18th must be bought

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  7. The most likely for SPX is upside to 2,830 then decline to 2,660.

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    Replies
    1. SC, is 2660 the target for the 2nd leg down?

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    2. No, 2nd leg down is a large move. Let me post the chart. It will explain.

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    3. SC - in your opinion we should hit 2830 SPX next week?

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  8. SC,

    Uvxy entry point yet or $10 possible?

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  9. Sc are you expecting 2830 by june 13th
    Or by may 18th your thoughts

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  10. 2,830 in May. Once that occurs UVXY becomes attractive.

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  11. SC, 2830? why not all time high then...are you expecting to have lower high and then sell off? In that case why your bottom is in 2650?

    Thanks

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    Replies
    1. SPX is still in the whipsaw phase. For the next move 2,830 followed by a decline.

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  12. i believe we will be down into the 18th
    tagging 2640 to 2660 and then 2800 after i will be buying the dip
    at 2640

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  13. sc what price would you buy uvxy and what is your target
    is it 18

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    Replies
    1. DONT BLAME YA ITS A MARKET IM DISLIKING RIGHT NOW

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  14. looks like a drop to 2620 coming next week before we pop up to 2800

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