The next three months looks extremely volatile with a confluence of major resistance, but also rising support. An inverse head and shoulders pattern is setting up, and will likely come into play late in the fall months.
Daily Chart
Monday, August 8, 2016
XIV - Resistance Reached!
XIV has reached the main turquoise resistance, and therefore a pullback is probable.
The next three months looks extremely volatile with a confluence of major resistance, but also rising support. An inverse head and shoulders pattern is setting up, and will likely come into play late in the fall months.
Daily Chart
The next three months looks extremely volatile with a confluence of major resistance, but also rising support. An inverse head and shoulders pattern is setting up, and will likely come into play late in the fall months.
Daily Chart
Subscribe to:
Post Comments (Atom)
For XIV support is around $28 to $30 with longer term support around $24.
ReplyDeleteIt's overextended, with stiff resistance here.
Hi SC, in you chart you show resitance just under $36, however XIV us currently cleary above this resistance at $36.70. Do you think the next level at around $42 is in play?
ReplyDeleteThis double resistance is likely to be quite strong. XIV probably dips somewhat under the middle pink support next.
DeleteI do agree $42 will be in play for September, but first things first, a test of support next.
Vix 7 weeks down into....10.88 :) maybe 10.5
ReplyDeleteHi, Guys
ReplyDeletelooking for Market to go down?
SPX may try to find a TOP tomorrow
and go down for several days.
If that's unfold, tomorrow top could be a left shoulder.
2178?
DeleteLOL;
DeleteTop is near price wise. ( may be around 2211)
I think top will be on Aug. 31.
Then go down into the middle of DEC.
My time cycle could change depending on market move.
Now SPX is 2187.
DeleteIf spx does not move above 2188, then spx could go down into 19th / Aug.
Not 19th, 17th
DeleteAnother failed attempt at a UVXY Morning Star daily candle pattern? Just guessing...but maybe we'll see another OpEx high next week and another UVXY lower low. Then, maybe after that, UVXY will be a strong buy. But that's just another guess...
ReplyDeleteNew chart posted!
ReplyDelete