Sunday, June 30, 2019

UVXY - Almost Ready - Low Due in July!

UVXY has been consolidating for another spike up, and a low is due in July.

The descending triangle broke down with a calculated UVXY target of $27.  UVXY is almost ready with a low forming in the weeks ahead.

VIX is likely to retest it's December high by the September/October timeframe.


Thursday, June 27, 2019

Bitcoin - Sudden Drop Next

Bitcoin analysis posted July 16th, 2018 proved to be accurate, with the bottom forming in December, and Bitcoin hitting the 14,000 target yesterday.

A sudden drop is coming next.  Bitcoin is likely to drop to the 8,000 level which has become strong support.


Bitcoin:  July 16, 2018 Analysis:


Wednesday, June 26, 2019

$VIX - Wedge - Short Term Targets

Interestingly VIX touched the nose of it's symmetrical triangle yesterday.

It appears that a wedge is forming.  The trendline is just a touch lower.  A period of high volatility is due to commence starting from July and into the Fall months.


Tuesday, June 25, 2019

Gold - Fake Breakout!

Gold traders are excited about a breakout, but we can see clearly that Gold is approaching strong resistance and the dominant trend remains down.

Gold has been down off the major high in 2011 for eight years so far with the Gold bear market to continue.


Tuesday, June 18, 2019

SVXY - Right Shoulder Forms

SVXY continues to have difficulty and is showing relative weakness compared to SPX.  At best, SVXY  may attempt to challenge the white downtrend line from September.

The Head and Shoulders is intact and the Right Shoulder is nearing completion.

Daily Chart

Friday, June 14, 2019

$SPX - Selloff Next!

SPX has formed a tight range, and volatility is subsiding which indicates that a June selloff is likely to occur next.

The white line may be tested next week before the selloff begins.

Daily Chart

Thursday, June 13, 2019

$VIX - Testing Trendline

VIX is very close to testing it's trendline and has been coiling for several months.  Watch for the reaction here and selloff for SPX.    


Tuesday, June 11, 2019

UVXY - Descending Triangle

UVXY has formed a descending triangle pattern with a test of the lower boundary today.  It may spend some time filling out the triangle next.

Eventually it may bust the triangle with a dip below, but for now it has been finding support within the pattern.


Thursday, June 6, 2019

$SPX - Short Term Outlook

SPX may have a little upside yet, but this rally has been a bit much and a bit fast.

Any further upside and SPX probably dips as shown below.  It may then be in a holding pattern until the second half of June.  Another rally in later June and into July 4th most likely next.


Wednesday, June 5, 2019

SVXY - Update

After five down weeks, SVXY was due for a bounce.  SVXY has consistently found support at the neckline and blue mid support.

Some up weeks next are in order.