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Friday, June 14, 2019

$SPX - Selloff Next!

SPX has formed a tight range, and volatility is subsiding which indicates that a June selloff is likely to occur next.

The white line may be tested next week before the selloff begins.

Daily Chart

36 comments:

  1. A lot of resistance hitting overhead.

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  2. VIX hit it's trendline today!

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  3. Full blown trade war has disrupted supply chains which has resulted in global trade grinding to a halt.

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  4. Replies
    1. With the next 100 point drop an inverse head and shoulders will form.

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    2. is spx 2013 selloff model no longer valid? you don't see 2600 tested anymore?

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    3. Let's wait as this high forms and review one step at a time. The next decline will be characterized by high volatility in my opinion.

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  5. Looks like when market rallies gold will fall Commercials huge short gold and silver

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  6. SC.. seems like the model you had for bitcoin was completely wrong... do you have a new model as to where things are headed?


    Thank you

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    1. Yes, will be posting bitcoin charts. It still looks to be getting close to a high with consolidation coming soon.

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    2. The 9,000 target has been reached.

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    3. Sometimes its best for a person to concentrate on one market, SC is not doing well a Gold or Bitcoin cycle predictions.....its the truth, anyone that followed him on both got cleaned out....poof

      not trying to put down SC but cycles are only part of an equation in every market.....

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  7. uvxy piece of cow dung the most money made is shorting this turd

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  8. Replies
    1. At times I too have experienced a love/hate relationship with UVXY.

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    2. I just make more money shorting this garbage i knew the gap has to be filled every time i short uvxy i make money everytime i buy i gotta buy more lol

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  9. bynd is gonna be the bigest short in my opinion

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  10. I'll wait to increase shorts. Reason is simple. SPX didn't get overbought in April. UVXY didn't get oversold in April. On the daily.

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  11. If the bears are waiting for an event to mark the high it's likely the ratification of the US Mexico Canada trade agreement, coming soon.

    Frankly a US China trade deal appears to be a long way away...

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    Replies
    1. how soon u still holding uvxy?

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    2. Yes, UVXY target $47 so it already looks quite attractive, but of course it may see lower short term. We have talked about $28 UVXY which would be about right if it gets oversold on the daily.

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  12. is the cycles still working? past the white line, now what?

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    Replies
    1. It looks excellent for the bears, and as a rule I do not go long on the last move approaching a top.

      So I'll wait to short. Let's see SPX overbought on the daily for the short setup.

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    2. Well I'm expecting a large drop in to Thursday that's why I bought more if I have to buy more I will

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    3. manipulation at the finest im looking for a drop into thursday possible 2810 to 2850

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