Although prices may see lower yet with a potential test of the blue support, timing is coming due for a low and pop into January. Weekly charts are close to turning up which means a month long pop is coming soon.
Daily
Tuesday, December 18, 2018
$SPX - Short Term Levels to Watch
SPX looks to be forming a low in December, and likely to make a bounce into January. A support is currently being tested.
Although prices may see lower yet with a potential test of the blue support, timing is coming due for a low and pop into January. Weekly charts are close to turning up which means a month long pop is coming soon.
Daily
Although prices may see lower yet with a potential test of the blue support, timing is coming due for a low and pop into January. Weekly charts are close to turning up which means a month long pop is coming soon.
Daily
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SPX rally today fizzled quickly but it should reach a low this month. Better off to focus on long as it approaches a low.
ReplyDeleteVIX often spikes as SPX nears a low in this situation. You can see this is completely different than February.
ReplyDeleteTHATS BECAUSE THE VIX WILL SPIKE DOWN MAYBE WE MIGHT HAVE THE OPPOSITE HAPPEN
DeleteLONG MORE SPXL 34.45 SHORT MORE UVXY @7350
ReplyDeleteMARKET GONNA POP IN MY OPINION
ReplyDeleteThe market is more likely to crash than pop imo. The play since Oct 1 when the market turned south has been SPXU and UVXY, up 43% and 90% respectively. The market may be oversold but can become far more oversold, all indicators are far more bearish now than at any time since 2011. FedEx is down 6% after cutting guidance based on a slowdown in Europe. Expect more carnage tomorrow after two days of failed rallies.
ReplyDeleteI think more selling in January
DeleteI believe we pop into year end
Good call! Big drop today!!
DeleteThanks. This is a scary market and the opposite of what we've had. Fed speak used to result in a rally, now the opposite. Market knows they are caught between a rock and a hard place, Powell took the job at the wrong time. We should still see a relief rally soon I think.
DeleteWhat about Btc? Thanks!
ReplyDeleteYes, charts are coming. In my opinion Bitcoin is slowly warming up. Recent pop but not a bottom yet. The bounces will become stronger as it approaches the low. This process will take a while imo. Great market, lot of action. Looking forward to it!
DeleteI think risk is to the upside in the short term. Too much pessimism baked in. Lets see what happens.
ReplyDeletecovered uvxy short and sold spxl
ReplyDeleteA big year and rally however I did sell my position because of the fed I'm going to wait to buy cheaper and get back in
ReplyDeleteUVXY chart posted!
ReplyDelete