SPX is breaking out. However, the whipsaw phase is about to intensify.
SPX Daily
Before:
April 2, 2018
"SPX is approaching long term channel support and testing the 50 weekly moving average at 2,565. Expect a big bounce soon as least up to channel resistance as identified."
30min Chart
SPX is going to be an exciting market in coming months. The whipsaws are becoming larger as this phase accelerates.
ReplyDeleteThank you SC - so SPX is clearly moving up to 2830 now. When does the second leg down begin?
DeleteAt this point it's too early. Still in the whipsaw phase.
DeleteOk interesting - I thought the second leg down was supposed to start soon? Is the whipsaw phase taking longer than expected?
DeleteI look at SVXY and SPX separately. The timing is different for each. For example one may reach a higher high while the other does not. The second leg down should start at a different time for each.
DeleteOK thank you SC - we are still looking for 2830 SPX this month for the next long UVXY trade?
Deletei agree brother 2830 should come then down to 2600?
ReplyDeletecomplicated
Yes, that is correct.
Deletei guess we will wait for top and short
DeleteMeanwhile bitcoin trying to levitate to avoid the dreaded death cross. It's not going to be able to do it...
ReplyDeletei will continue to buy big dips and then sell to mee looks like 2660 or 2830 ?
ReplyDeletesc do you have turn date botton on june 1st?
ReplyDeleteSC - we are still looking for 2830 SPX soon?
ReplyDeleteYes, SPX run is coming! Second leg still months away.
Delete1 June Bradley Date is fast approaching...and RUT is currently at an All Time High...Coincidence? Hmmmm...perhaps the Majikal VooDoo correlation between Dr Bradly and small caps RUT will continue with an upcoming change in trend lower, perhaps lasting into August...then again, maybe not... but once again, it's now time to Be Careful!
ReplyDeleteThe S&P could drop down to 2672 2700 after that I believe we move higher
ReplyDeletesc is there any way you could show the top chart in a much longer version so i could see better
ReplyDeleteSPX is following the 2018 Model posted March 8th. The sideways move is almost over and another strong rally is coming for SPX to the next target of 2,830.
ReplyDeleteThanks SC! From 2830 SPX you think it will selloff again to 2600 for the next whipsaw?
DeleteShould only see a small pullback from 2,830 SPX, then run higher to terminate the rally.
DeleteAre you expecting new highs to terminate the rally SC or a lower high than 2873?
DeleteNew highs for SPX. Still on track for 2,950 target. Other indices such as the DOW won't be able to make a higher high.
Deletei bought the dip yesterday do you plan on buying upro or something else?
ReplyDeleteYes, UPRO looks good with the sideways move ending and the UPRO split complete.
Deletewhat price would you buy upro `or are you waiting for next week
DeletePrice looks attractive here for UPRO. Probably see $49 in a few days. Sideways move is almost over. Maybe a chance at $46 if there is a dip this month, but it is very close to breaking out to the next level.
DeleteDo you notice price action for the markets after all UPRO splits? tended to trickle down for a few weeks after the split: https://imgur.com/a/SyRSR0D
ReplyDeleteSc are you expecting a small dip here I'm still long here from the bottom I've been buying spxl on every dip when do you plan on going long
ReplyDeleteSPX should edge a little higher this week to around 2,760 then small pullback to 2,710.
DeleteSINCE WE HIT 2780 DO YOU THINK THAT SMALL FROP WILL BE 2720 NOW
DeleteDone!
ReplyDeleteSCJune 1, 2018 at 8:15 AM
"Price looks attractive here for UPRO. Probably see $49 in a few days."
im still in looking to sell soon
Deletegood call
DeleteWonder if were going to 2800 SPX before pulling back a little?
DeleteSPX stall here and small pullback next.
DeleteSc how nany points 50?
DeleteRUT still making new all time highs while Dr Bradley's date has come and gone...Coincidence? Hmmmm...well, all models are wrong, some are useful. So, while the VooDoo Majik may be gone, SC's keen insight seems to be on target...but, always in motion the future is, so Be Careful!
ReplyDeleteouta spxl
ReplyDeleteSC,
ReplyDeleteUVXY finally hit $10.
Is now a decent entry price or $8 in the cards?
At least I am starting to monitor UVXY again. Small pop is likely, but much too early for a big move.
Deleteseems like the bulls could push any button they want
ReplyDeleteis everybody alive lol bitcoin getting rocked
ReplyDeleteyea scaling in some SPX shorts here 2785. Should pullback soon...
DeleteDoesn't seem like we are going to make it to 2830...might be too much resistance below 2800
DeleteWe are seeing normal price action. Periods of high volatility, such as we saw in February, are followed by periods of low volatility.
ReplyDeleteMeanwhile bitcoin is testing support once again. However the bounces are getting smaller. It still needs to capitulate.
ReplyDeleteSc it seems like the S&P is going up 16 days and dropping 16 days and drop it what is your Target by the 29th of this month on the S&P 500 or after July 5th
ReplyDeleteSVXY at 14 and at top of resistance - should pull back soon?
ReplyDeleteprobably a good short on svxy soon
DeleteI think SPX made a low, Today.
ReplyDeletePerfect!
ReplyDeleteSCJune 1, 2018 at 8:15 AM
Price looks attractive here for UPRO. Probably see $49 in a few days. Sideways move is almost over. Maybe a chance at $46 if there is a dip this month, but it is very close to breaking out to the next level."
SC when do you plan on going long upro I've been trading the dips you could call
DeleteMaybe this week.
DeleteEvery massive dip I buy
Deletesc meant to say good call
DeleteSC - are we en route or heading close to 2830 SPX?
DeleteNext run to 2,850 SPX.
Deletesc are you expecting more weakness in the spx
Deletei bought the other days dip or are you expecting for spx to go up from here? im still expecting 3200 end of year
Just waiting for this dip to finish.
DeleteThanx
DeleteSC, what's your turn date? I have 6/26
ReplyDeleteThank you! I'm only getting clusters of minor turn dates right now.
DeleteProbably around the end of the month.
DeleteSC--A death cross is developing in gold (50 day moving under 200 day MA). Do you see gold <1000 and platinum <700 w/i the next 6 mos? Any thoughts on this as a final washout as happened in 2001? Much appreciated-J
ReplyDeleteThank you! The large scale model does show another leg down in the bear market which began in 2011. For the last several years gold and silver have consolidated sideways, but it still seems likely that the final leg down is coming, and it is one of the largest drops in the model.
DeleteI think it could take a couple years to hit bottom at this pace.
Yes the classic death cross indicates we are getting closer though may see some chop first or even a last gasp of rally before it finally sinks.
Many thanks! SC
DeleteSc you plan on buying this dip
DeleteJuly bought more spxl 44
Bought this dip long spxl 44.44
ReplyDeletelong upro 46.16
ReplyDeleteit wouldnt suprise me if we have a big move up from here
ReplyDeleteBeautiful! There's $46!
ReplyDeleteSCJune 1, 2018 at 8:15 AM
Price looks attractive here for UPRO. Probably see $49 in a few days. Sideways move is almost over. Maybe a chance at $46 if there is a dip this month, but it is very close to breaking out to the next level."
Right on money goid job
DeleteSc are you expecting drop in spx
DeleteSPX may retest 2,700 this week but it is forming a low. 2,830 next in July.
DeleteDone!
ReplyDeleteJune 4, 2018 at 11:41 AM
"SPX should edge a little higher this week to around 2,760 then small pullback to 2,710."
great call maybe 2700 2710 go long again?
DeleteOut spxl and UPRO waiting for sell off
ReplyDeleteWill buy back spxl out at 45.44
UPRO out 47.88
sc at what point are you going long this market 2680 2700?
ReplyDeleteYes, should drift a little lower, looking good.
DeleteLong spxl 43.49
ReplyDeletescared money dont make money next pop up to 2730 and the down
ReplyDeleteuta of spxl quick trade44.10
ReplyDeleteTurn date July 6th.
ReplyDeleteYup she probably grind lower into that date and then a pop into Sept 2850?
ReplyDeleteNew chart posted!
ReplyDelete