A band of horizontal resistance is shown.
60min Chart
Before:
March 22, 2018 analysis:
"SVXY is declining towards short term support. A trading range has established in the $11 to $13 range, and that is expected to continue into May."
30min Chart
SPX target has also been reached at the white line today!
ReplyDeleteSC - seems like we may extend a bit further for SPX/SVXY here? Do you have thoughts as to timing of when the second leg down may begin - later this month?
DeleteSVXY top out in the $13's. SVXY target $10.60 but big bounce around $11.25.
DeleteSecond leg down is starting...
Second leg starting down now?
DeleteDue to start soon. I don't see urgency today, but yes SVXY near the top of the range.
DeleteTrading range $13's to $10.60.
Thanks SC - seems like if they force SPX back up to 2800, we may be able to enter UVXY between 10-12
DeleteWhat will be spx target when u expect it
ReplyDeleteI'm working on an update for SPX. I'll post the target shortly.
DeleteIn March I had estimated the second leg down due to start May 14th, and I'm very pleased with the result.
ReplyDeleteWe are close in timing. Next turn date May 17th.
SCMarch 23, 2018 at 9:34 PM
Delete"Timing: The whipsaw phase has begun and is due to last 7 weeks ending May 11th. The second leg down is due to start May 14th and last 4 weeks, and decline each of those 4 weeks."
Many thanks SC - Plan on getting short next week then once UVXY is in the target area!
DeleteSC if today is a turn date - I assume it will be a bottom before we go higher to SPX 2830 by end of month?
DeleteAlso in March the cycle estimated June 8th for a low. What is interesting is that the Trump - North Korea meeting has now been set for June 12th!!
ReplyDeleteVolatility rise look pretty minimal for a bigger second leg down with these targets
ReplyDeleteAgree. No bottom in June, just the beginning of the decline...
Deleteso you are expecting what in may?
DeleteSC, when you said the beginning of the decline, do you mean the SPX?
DeleteNot yet for SPX.
DeleteI look at both SVXY and SPX independently.
DeleteProb Looks like big move down next week
ReplyDeleteFrom 15 to 18th must be bought
Going into OPEX?
DeleteThe most likely for SPX is upside to 2,830 then decline to 2,660.
ReplyDeleteSC, is 2660 the target for the 2nd leg down?
DeleteNo, 2nd leg down is a large move. Let me post the chart. It will explain.
DeleteSC - in your opinion we should hit 2830 SPX next week?
DeleteSC,
ReplyDeleteUvxy entry point yet or $10 possible?
It is possible.
DeleteSc are you expecting 2830 by june 13th
ReplyDeleteOr by may 18th your thoughts
2,830 in May. Once that occurs UVXY becomes attractive.
ReplyDeletealso spxs will be attractive
Deletethanx
DeleteSC, 2830? why not all time high then...are you expecting to have lower high and then sell off? In that case why your bottom is in 2650?
ReplyDeleteThanks
SPX is still in the whipsaw phase. For the next move 2,830 followed by a decline.
Deletei believe we will be down into the 18th
ReplyDeletetagging 2640 to 2660 and then 2800 after i will be buying the dip
at 2640
sc what price would you buy uvxy and what is your target
ReplyDeleteis it 18
I'm just waiting.
DeleteDONT BLAME YA ITS A MARKET IM DISLIKING RIGHT NOW
Deletelooks like a drop to 2620 coming next week before we pop up to 2800
ReplyDelete