The left shoulder and head are complete. The right shoulder is forming.
Daily
Daily
Friday, March 29, 2019
SVXY - Before/After - Bearish Move Ahead!
Momentum has been lost, and SVXY is continuing to struggle at the 200 daily and weekly 50 confluence of moving averages. Most probable a head and shoulders topping pattern is forming.
The left shoulder and head are complete. The right shoulder is forming.
Daily
Daily
The left shoulder and head are complete. The right shoulder is forming.
Daily
Daily
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SVXY has moved according to plan, now things are getting interesting...
ReplyDeleteyou have the 50 day getting ready to cross the 200 here on spx daily
ReplyDeleteYes, golden cross. Thanks!
DeleteMarket up 200 Vix up
ReplyDeleteYes, very good observation! Thank you!
DeleteSC - Since we almost basically went straight up near your 2880 target...are we going lower than 2346 on this next down leg? Thanks in advance!
ReplyDeleteNot quite yet. The big leg down will occur from overbought levels. We are not there yet either in price or time so at this time still just pullbacks in the rally.
DeleteDaily SPX is not overbought yet, but it is slowly getting there. Because of the deep selloff in December it is a slow progress.
Charts are showing that the recent low of 2,800 SPX is going to be tested again soon, probably within 2 weeks. That is regardless of whether SPX trades higher this week which it well may do.
ReplyDeletePullback and then last push to overbought. How deep the pullback determines when the rally finishes. If the next pullback is shallow the rally will finish sooner. If the pullback is deeper then the rally will take longer. This rally due to finish between May and July.
SC, so the big drop down below 2346 will be after the May July peak?
DeleteFor SVXY this is a clear head and shoulders pattern. The right shoulder looks good now. However, sometimes these do fail and the right shoulder just continues higher, breaks the pattern. Quite simply the pattern confirms or it doesn't. Good risk reward for UVXY.
ReplyDeletealgo killing all the elliott wavers
ReplyDeleteit will probally bang new highs
ReplyDeleteIn my opinion April will be a down month after 3 up months.
ReplyDeleteThen July peak most likely.
DeleteA lot of Elliott wave is shorting the market since 2600 U never know what they're gonna do we'll see hope you're right I bought another 10000 shares of the spxs today bringing my cost down
Deletewill buy 15000 more today
DeleteApril 2650 Sox. People buying dips they dont let it fall 20ppoonts
ReplyDeleteLot of typos. Are we still expecting 2650 in April. . Right now they won't let it fall below 2800
ReplyDeleteIt is my belief that March lows will be tested just my opinion
ReplyDeleteAgree
DeleteBitcoin just spiked to 5,000. Update with next move will be posted today.
ReplyDeleteSC: target around 6000 - 6500 on BTC?
DeleteSorry chart is coming. Big resistance for bitcoin at 6,000. I wouldn't trust it beyond 5,500 as I'll explain by the chart.
DeleteNew chart posted!
ReplyDeletemany thanks SC. in my opinion 6000 is a good target.. no problem to sell around 5500.. is a good gain too..
ReplyDelete