Finding the edge in analyzing unique market Cycles.
Higher lows for now... Expect to see a higher high.
SC - do you mean higher high for SPX or SVXY? We are just filling out the right shoulder on SVXY correct?
In my opinion SVXY will not be able to surpass the $56 head, but will see a higher high above $53. Yes agree, filling out the shoulder.
SPX chart is coming as well.
Thank you as always SC!
It's very interesting SC as both SVXY and SPX are forming large H&S patterns with SVXY targeting the December lows and SPX will be targeting 2500 initially after this latest bounce is complete
SVXY was hit especially hard early May, SPX needed to catch up and it did.The higher low for SVXY was a warning to bears that a trap was set.
SC so 2830 then 2600 or 2880 then 2600?
I figured we might see some consolidation around 2,830 but the model shows a lower high from May 16th 2,892. So 2,880 target makes sense.
Best to be conservative. If it overshot 2,920 could be possible but I wouldn't count on that.
thanks when do u see 2880 hit? end of June by the chart?
With this strength and little pullback..2,920 seems very possible...
Dates to watch Fed meeting June 18th. Then July 4th. Bears had Christmas, bulls may have fourth of July!SCDecember 28, 2018 at 7:44 AM"Lol. It does seem contrived at times. Bottom on Christmas Eve. Let me see...top 4th of July Haha!"
The market dropped soon enough that July 4th may just work.
SC, upro still $50 target to sell?
Yes. Chart coming to explain why.
i mean should be higher now if looking for 2880
Agree, but not quite yet.
SC, model still shows 2600 after 2880?
Let me explain with a chart.
Higher lows for now... Expect to see a higher high.
ReplyDeleteSC - do you mean higher high for SPX or SVXY? We are just filling out the right shoulder on SVXY correct?
DeleteIn my opinion SVXY will not be able to surpass the $56 head, but will see a higher high above $53.
DeleteYes agree, filling out the shoulder.
SPX chart is coming as well.
DeleteThank you as always SC!
DeleteIt's very interesting SC as both SVXY and SPX are forming large H&S patterns with SVXY targeting the December lows and SPX will be targeting 2500 initially after this latest bounce is complete
DeleteSVXY was hit especially hard early May, SPX needed to catch up and it did.
ReplyDeleteThe higher low for SVXY was a warning to bears that a trap was set.
SC so 2830 then 2600 or 2880 then 2600?
ReplyDeleteI figured we might see some consolidation around 2,830 but the model shows a lower high from May 16th 2,892. So 2,880 target makes sense.
DeleteBest to be conservative. If it overshot 2,920 could be possible but I wouldn't count on that.
Deletethanks when do u see 2880 hit? end of June by the chart?
DeleteWith this strength and little pullback..2,920 seems very possible...
DeleteDates to watch Fed meeting June 18th. Then July 4th. Bears had Christmas, bulls may have fourth of July!
ReplyDeleteSCDecember 28, 2018 at 7:44 AM
"Lol. It does seem contrived at times. Bottom on Christmas Eve. Let me see...top 4th of July Haha!"
The market dropped soon enough that July 4th may just work.
DeleteSC, upro still $50 target to sell?
ReplyDeleteYes. Chart coming to explain why.
Deletei mean should be higher now if looking for 2880
ReplyDeleteAgree, but not quite yet.
DeleteSC, model still shows 2600 after 2880?
ReplyDeleteLet me explain with a chart.
Delete