SPX should be ready this week for another attempt to break channel resistance. The next strong resistance is located at 2,400 which is likely to be tested this month.
60min Chart
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Monday, April 10, 2017
$SPX - 2,400 Horizontal Resistance
SPX attempted to break out of the channel coming into the April 6th turn date. Price was not quite strong enough to break it at that time and has cooled for another attempt.
SPX should be ready this week for another attempt to break channel resistance. The next strong resistance is located at 2,400 which is likely to be tested this month.
60min Chart
SPX should be ready this week for another attempt to break channel resistance. The next strong resistance is located at 2,400 which is likely to be tested this month.
60min Chart
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what would be the stop loss in this
ReplyDelete$61 is the February low for XIV.
Deletehaven't posted here in more than a year...have been lurking...this blog is essential for contrarian plays!
ReplyDeleteouch
ReplyDeletemarkets melting
ReplyDeletehopefully that was the bottom 2340
ReplyDeleteThe SPX 2,340 target has been reached. The spike up is due Wed/Thurs.
ReplyDeletesince your entry in xiv was 68.15 does that mean that your exit price will be 4 points lower than 72
DeleteI have two targets for XIV this month.
DeleteThe first target due later this week I am going to reduce to $70. The second target due the last week of April will stay the same at $72 for XIV.
if all goes well we could tag 2380 bt thursday
ReplyDeletethis blog is essential for contrarian plays..lol...funny..base on my interpretation of your fractal...today should be the bottom and looking for a spike up in the next couple days in the spx..
ReplyDeleteThe bottom will be next week..new low tomorrow.
ReplyDeleteSorry, looking for a low Thursday.
ReplyDeleteof what the market uvxy xiv what are you talkin about
DeleteSorry Louis, I should have been more explicit. XIV will see a temp low Thursday. From their we will see new lows for April 20th.
ReplyDeleteso you are betting against sc correct
Deletebecause my indicators are telling me Upside target is 2390 for Thursday.
Deletei believe this will finish larger b wave and take out c
ReplyDeleteI am not betting against him, I am just taking the other side of the trade. LOL
ReplyDeleteMy target for XIV is $48
ReplyDeleteshow your proof and time frame
DeleteHey Louis,
Delete$48 is the 250 EMA for XIV
I have no timeframe....just the price I'm willing to enter XIV at.
QQQ in next 2 days 132
ReplyDeleteYou are a brave man Louise. Good luck
Deleteits louis not louise
DeleteSorry, it will not happen again !
Deletere-evaluating the fractal..looks now like the low in xiv might be 50 and end of april still have the move left down on xiv?
ReplyDeleteA large rally is coming stay long my opinion
ReplyDeletegold will get hammered
ReplyDelete$SPY. I'm now convinced wave 3 of FINAL wave 5' began at today's low. The end of this earnings season will bring in the next down
ReplyDeletemy indicators have spy 138 and qqq 132.5
Great, you have a game plan. What is other part of your game plan Louise ? In other words, where will be your stop loss if perhaps you maybe wrong ?
Deletewaves are only good if surfing. They have been debunked and anyone following elliot is now broke.....not trying to put damper on Louis...just trying to be realistic and keep others out of wave trouble......it doesn't work
DeleteThis is a strong chart for XIV. I definitely will continue to hold XIV. I'm confident a $72 target will be reached later in April.
ReplyDeleteI expect XIV to rise gradually to start, and then accelerate upwards with a spike up in the last week of April. The move will take about two and a half weeks time.
SC, will this 72 be part of a corrective move up and a lower low in May? 72 seems like a retrace target for XIV (and the markets)
ReplyDeleteTechnically SPX should touch 2,400 to retest the high, and XIV test $75. I keep the target for XIV conservative at $72.
DeleteApril looks positive and May negative.
Beautiful symmetry in the SPX chart! Both time and price!!
ReplyDeleteXIV showing relative signs of strength. Yesterday XIV was down $4 on a 15 point SPX dip. Today SPX is down 8 points and XIV is flat. What a huge difference.
ReplyDeleteSc where u bought xiv
ReplyDeleteLong XIV at $68.15 with a target of $72.
Delete2317. ES. Possibly by April 20
ReplyDeleteIt's going to be interesting. It is possible that SPX does come down to test the bottom of the channel around 2,300.
ReplyDeleteIf SPX comes down to 2,300 then I still see it bouncing to 2,380.
ReplyDeleteIn that case I will hold my position and wait for the bounce which would take a few weeks.
why not sell and resett at a better entry
DeleteCould do. It is possible that SPX comes down to 2,300. If that happens XIV could see $58 and then bounce to $69 or so.
DeleteSo if the market comes down here I would be stuck for several weeks and expect to break even basically.
Deletei buy 5000 to 10000 shares at a time
Deletewhy not buy more shares at 58 instead of waiting to break even
since i shorted uvxy at 18.20 it has moved against me
Deletehow high is that going to go if we go 2 2300
I'm just talking in the worst case. It's unlikely lol. In my opinion the most likely is that XIV rises towards $70 short term.
DeleteI fully agree with you for a large bounce back up close to the 2400. But first, new lower lows. 2317 especially min
ReplyDeleteOkay sounds good!
DeleteXIV chart update coming!
ReplyDeleteNew chart posted!
ReplyDelete