What about your other 16 day cycle??? Due to top May 3 ? It topped May 2. Without OBL it probably would have waited till May 3. This would bottom next on May 19 - 20.
As mentioned when we were trading at 1370 looking for a pullback to test 1325-1330 range - we are here quite soon. Possible with a little gap down today - I've got some long positions in TNA 82.7 yesterday early - its holding up well and same with SMH.
Massive rally is underway imho after this pullback is done to new highs in 1380-1400 range.
Take your profits on shorts they have done VERY well over last week - good profits made.
Now its time to go heavy long into markets imho - but still have objective target of 1325-1330 and after this I'm thinking about 1380-1400 SPX.
There was a good signal in the VIX yesterday that the mkt was setting up to bounce. Look at the VXX yesterday and compare to VIX. Notice that VIX was much stronger late in the day than VXX. When VXX underperforming VIX this much, then that suggests a bounce for mkts.
The reverse is also true. When VXX trading at a premium to what VIX suggests, then mkts setting up to drop.
When there are glaring differences, this comparison is worth paying attention.
SC, so do you see a bounce for the next week? Glad toread that, because it's my plan too. Signs of weakness everywhere, but the big money do not sell into the lows low, they sell into peaks after tecnical levels are broken and shorter stops have been harvested.
Yearly cycle close in a month , month and a half. One can buy a pair of 1250 July put now and turn off the pc. Some thousand dollars will be there soon.
What about your other 16 day cycle??? Due to top May 3 ? It topped May 2. Without OBL it probably would have waited till May 3. This would bottom next on May 19 - 20.
ReplyDeleteStill looking for 1206 ??
ReplyDeleteWatch the Glencore IPO. $250 M in fees on the line.
ReplyDeleteCould be a top, not a bottom.
would fit the flash crash 1 year cycle analog
ReplyDeleteI was quite pleased with the 16 day cycle. I'm not superstitious but OBL feels like more of a bad omen than anything.
ReplyDeleteAnniversary of the flash crash is tomorrow. Why do I get this feeling that this is an up day lol?
What a day!
ReplyDeleteHi SC
ReplyDeleteAs mentioned when we were trading at 1370 looking for a pullback to test 1325-1330 range - we are here quite soon. Possible with a little gap down today - I've got some long positions in TNA 82.7 yesterday early - its holding up well and same with SMH.
Massive rally is underway imho after this pullback is done to new highs in 1380-1400 range.
Take your profits on shorts they have done VERY well over last week - good profits made.
Now its time to go heavy long into markets imho - but still have objective target of 1325-1330 and after this I'm thinking about 1380-1400 SPX.
See charts on blog www.sqwiitrader.blogspot.com
Lets see what happends today :-)
Thanks Sqwii, it has been a good run for the shorts.
ReplyDeleteAs I mentioned yesterday Anniversary of the flash crash today. It's an up day!
I do think we are bouncing into mid next week.
There was a good signal in the VIX yesterday that the mkt was setting up to bounce. Look at the VXX yesterday and compare to VIX. Notice that VIX was much stronger late in the day than VXX. When VXX underperforming VIX this much, then that suggests a bounce for mkts.
ReplyDeleteThe reverse is also true. When VXX trading at a premium to what VIX suggests, then mkts setting up to drop.
When there are glaring differences, this comparison is worth paying attention.
Where's that 1206???
ReplyDeleteStay tuned, there are a backlog of updates coming!
ReplyDeleteSC, so do you see a bounce for the next week? Glad toread that, because it's my plan too. Signs of weakness everywhere, but the big money do not sell into the lows low, they sell into peaks after tecnical levels are broken and shorter stops have been harvested.
ReplyDeleteYearly cycle close in a month , month and a half. One can buy a pair of 1250 July put now and turn off the pc. Some thousand dollars will be there soon.
G.
www.ellipsetrading.com