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Monday, August 22, 2022

XLE - Inverse Head and Shoulders

XLE has an inverse head and shoulders and looks to be getting ready to pop short term. There is a gap target area identified above. Oil and gas shares have run lately and Crude is looking cheap. A pop in Crude could be imminent leading to a further rise in Oil shares. 60 min and Daily Charts

Monday, August 15, 2022

$VIX - 4 Years of Uptrend!

Volatility has continued to trend higher for four years since 2018. This will eventually lead to a massive spike in volatility. Volatility is increasingly expanding over years, and has already tested the 2008 level in 2020. VIX is likely to come down a little to test the trendline and then rise off the major trendline. Daily

Thursday, August 4, 2022

$SPX - Nearly Overbought

SPX is approaching an overbought condition on the daily chart. While SPX is having a good week it will have a negative week soon. SPX is nearly ready for a pullback. Daily