LABU - Biotech Recovery Rally!

Biotech had a deep bear market and finally became very oversold in October. Market conditions have been generally improving and Biotech is a sector that may benefit more than most due to the oversold condition. Since October LABU has doubled and appears to be still early in a recovery rally from oversold conditions. Daily charts

$SPX Big Picture Targets

SPX has been in an uptrend following the "mini" 2022 bear market. SPX is likely to trend up and continue possibly into 2025. There will be some nasty drops along the way, but SPX is currently in a bull phase. Daily

$SPX - Support at 50 Weekly

SPX quite simply bounced at the 50 weekly. Next week SPX can be expected to settle back to near the 50 weekly for a test of support. During November SPX will probably struggle and test last week's low later in the month. Weekly

XLE - Consolidation Period Over

XLE has been consolidating sideways for more than a year and looks to be working on breaking up through resistance. Middle East conflicts may be giving energy prices some lift in short term. Daily

$VIX - Update

VIX went up to test the upper trendline as expected. Support seems to have formed at the horizontal orange level. Weekly

UVXY - Weekly Chart

The weekly chart of UVXY is still quite negative with the 50 average pointing down. So although UVXY is coming off oversold levels on the weekly, it is still likely heading lower. Weekly

SVXY - Trending Higher

SVXY is in a clear uptrend and trending higher. With SVXY trading near it's trendline, volatility is likely to remain low for now. What this means is that the first leg down in the SPX selloff is nearly complete. Daily

$SPX - Further Pullback

SPX has been soft and looks to have room to pullback some more in the short term. Volatility is relatively low but there are some negatives coming this Fall season. Traders are back at their desks now and may trim some holdings. Weekly

LABU - Biotech Running

LABU has been rising and a breakout is likely. The daily made a small dip, and golden cross is imminent. In February it tried; now it is ready to run. The weekly is also at an important level as shown in the charts. Daily and Weekly

VIX - Trending up for 5 Years!

VIX is king in this market. Volatility, as seen on the chart, has been trending up for 5 years!!! The biggest moves are yet to come. For now though VIX is testing the long term trendline. It may underthrow the trendline slightly before the next pop. Weekly

GUSH - Oil Plunge Underway

Oil is dropping and a lot more downside is likely ahead. The economic turmoil with bank failures and a lengthening war in Ukraine are taking a toll on Oil. Oil appears to be plunging into the $50's. Weekly

UVXY - Short Term Target 50 Weekly $10

In short term UVXY can reach the 50 weekly as a target. Volatility is likely to increase to VIX 30. Weekly

GUSH - Rolling Over - Bearish

Oil shares are looking increasingly bearish. GUSH looks to be failing at the 50 weekly. Price could drop under $100. Weekly

$SPX - 4,200 Resistance

SPX has been rallying but will reach resistance soon, possibly as soon as next week. A pullback in February is looking likely with resistance near. Weekly