As is typical in a V-bottom the fast gains come early, and then slow. The rally is probably approximately two thirds complete with one third left in price. However, in time the rally may be only halfway.
Daily Chart
Monday, February 11, 2019
SVXY = Drop into Month-End
SVXY is finding a little support at the midfork, but a drop looks likely into month-end February.
As is typical in a V-bottom the fast gains come early, and then slow. The rally is probably approximately two thirds complete with one third left in price. However, in time the rally may be only halfway.
Daily Chart
As is typical in a V-bottom the fast gains come early, and then slow. The rally is probably approximately two thirds complete with one third left in price. However, in time the rally may be only halfway.
Daily Chart
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The white trendline resistance, 200 daily and 50 weekly confluence just overhead at $51.
ReplyDeleteSC - are we still looking for SPX to fall towards 2,525 into the end of the month as well or is the target higher now since the rally extended? Thanks in advance for your input!
Delete2,600 SPX give or take seems realistic.
DeleteSame thing for SPX. The fast gains came early, and now we are seeing it is tougher to advance.
ReplyDeleteSPX weekly has broken out which I suggested in December it was coming, and even the daily is not overbought. So there likely are gains ahead.
ReplyDeleteStill, this is a natural spot for a pullback.
SC, what is SPX target with SVXY hits $55?
DeleteIt'll probably see 2,800's.
DeleteI have bigger picture charts as well, saving those for close to the turn.
ReplyDeletelooks like 2742 is coming after all elliott wavers gettig teeth kickd in
ReplyDelete
ReplyDeleteLouis M LombardiFebruary 5, 2019 at 9:40 AM
im thinking 2742 we will see maybe wednesday thursday they have to sucker more people long
well what do you know are we going higher ? I am Gonna have to buy and crazy amount to bring my average down.
sc you plan on averaging into spxu?
ReplyDeleteInterested in UVXY soon. The price can come down more. I think it will, but it's starting to look attractive.
ReplyDeleteI just want to point out that a market that rises 17% in 7 weeks is NOT a healthy market.
ReplyDeleteSome may say well it declined 20% in 3 months, however that decline was on the back of crumbling fundamentals, the two largest valued companies ever share prices in parabolic upside moves and absurdly stretched valuations that it can be argued were the most extreme broadly based, valuations in history.
We are close to the next leg down.
I agree manipulation at its finest
DeleteI agree the rally is not healthy to the extent that markets normally rise slowly. However, the market is always right so we have respect price. It is going to end badly. No question.
Deletesc: is a big news 4 you?
ReplyDeletehttps://www.newsbtc.com/2019/02/14/nasdaqs-bitcoin-and-ethereum-indices-solve-a-major-problem-for-crypto/
Thank you! We're seeing steady progress in developing market infrastructure for crypto. It's going mainstream for investors.
DeleteNotice the date on that February 25th launch date. Let's keep an eye on that.
amazing how uvxy is not droping here
ReplyDeleteJust thinking the same thing. Time to get serious about UVXY for a pop.
DeleteSC: what about S&p500? is drammatically strong...
ReplyDeleteIt is but basically just an elastic move to retrace the December decline.
DeleteSPX still not overbought on daily.
what price you going to buy uvxy? you still see $45?
ReplyDeletestill thinking $45 on uvxy?
ReplyDeleteYes, UVXY chart coming right now.
ReplyDeleteNew chart posted!
ReplyDelete