UVXY - Inverse Head and Shoulders

A spike up in UVXY may be imminent.  An inverse head and shoulders pattern has formed, and price is pressing hard on the neckline.

Breakout may occur soon.

Daily

$SPX - Short Term Levels to Watch

SPX looks to be forming a low in December, and likely to make a bounce into January.  A support is currently being tested.

Although prices may see lower yet with a potential test of the blue support, timing is coming due for a low and pop into January.  Weekly charts are close to turning up which means a month long pop is coming soon.

Daily

$SPX - Long Term Resistance!

SPX has turned lower off quarterly resistance.  The chart shows a relatively expensive market.  Thus a mild bear market is possibly beginning.  If that is the case, then SPX may lose all gains since 2016 as shown with a measured decline.

SPX has had a great run, but may be ready to retrace some of the gains.

Quarterly

SPX - Measured Move Target

SPX has risen to test resistance as anticipated.  Consolidation or minor dip at this level is to be expected.

The meltup is likely to continue soon.  A measured move target is shown, with heavy resistance in red.

30min Chart

SPX - Short Term Support/Resistance with 2,975 Target

SPX warmed up this week, and it is just the beginning.  Minor resistance is overheard with support building at the 2,700 level.

30min Chart

Ultimately, SPX is moving towards a price target of 2,975.  The channel is clearly defined with a shallow slope that is sustainable.

Daily

$SPX - Weekly signals Big Bounce Ahead

SPX was unable to maintain rising in the steep slope of the main pink channel.  Another channel has formed, and the slope is gradual.  Outlook for SPX remains positive as price will likely rise in the blue channel next.

The weekly chart of SPX is signalling a big bounce ahead.

Daily Chart

Bitcoin - Before/After

Bitcoin has declined off the white trendline identified in July.  Price is approaching the target area.

A bounce is possible short term, but lower prices are likely ahead.  Price action is consuming time, and the bottom may not form until next year.

Daily

July 16, 2018:

Daily