"Canadian and U.S. officials have agreed to keep the border between the two countries closed to non-essential travel for another month. This comes as both countries are still working to stop the spread of COVID-19, and as tensions continue to flare between Canadians and prospective American visitors.
The current extension of the cross-border agreement expires on August 21, though as the spread of COVID-19 continues in both countries, the restrictions on recreational travel will remain in place until at least Sept. 21"
It means the back to school thing will fail by Oct 15 and we will be in lockdown again. Coincides with elections. I can see the SC mega vix playing out. Until then, everything is rosy
Even though cruise lines aren’t open I don’t c a pop b/c of hurricane season and news always reporting Covid cases. Just a tough environment for cruise lines or airlines
I think gold is interesting here. They say the miners have not gone up enough to compensate for increase in commodity. You can play it through nugt (bull) and dust (bear). So today, Buffet was said to have put a big stake into Barrick. The gold miners (nugt) soared. The price tested $2000 that it previously blew through. We will see if it makes a commitment over 2000. Else, it could test long term support at 1750, which coincides with the 1.5 yr chart low trend line on bullish channel. Im out right now bull/bear
opex on gold and silver is 8/26, they have to keep it in check or 2300 comes fast.....27 trillion in debt and 30% of all loans in forbearance are all u need to know where metals are heading, 2000 years as a reserve currency is proof in pudding
Volatility is increasing in all markets whether it be SPX, Oil, Gold or Silver, or Bitcoin.
ReplyDeleteEven more troubling is that all these markets are highly correlated meaning that all markets rise and fall together.
Eur/usd too?, fall to November as spx?
DeleteI have never seen a chart as bearish as SVXY. Incredible how little this has moved off it's lows.
ReplyDeleteSo we go straight down from where we are on the uvxy ?
ReplyDeleteNot sure, but once SVXY reaches higher high, UVXY will be in position for a larger move.
DeleteSo you will go short when svxy rea he's 40
ReplyDeleteYes exactly!
DeleteNext target for svxy is 30 - https://ibb.co/vmSxB1y
ReplyDeleteThank you, let's see reaction at the mid line.
DeleteTarget for vix 120???
ReplyDelete135
DeleteIn November?
DeleteNot yet, VIX monthly is big picture chart.
DeleteWhy the vix is mega bull?
ReplyDeleteVIX has established a pattern of higher spikes for 30 years since 1990. 2008 high was tested this year.
DeleteVIX wants to test the 1987 peak...
SC, what's the low target for S&P and when? Thanks!
ReplyDeleteI'll post SPX chart next. There is well defined target I was looking at yesterday.
DeleteI think 1800
DeleteFriday the 13th of March was the appetizer for VIX.
ReplyDeleteBat soup and salad.
The main course being prepared and served....
Lol
DeleteThanks sc. Might take spx to 3400 or higher than
ReplyDeletesc,
ReplyDeletewhere do you see a bottom on the UVXY--in the short term???
$10
Deletetommy we will see a spike you get out on spike svxy should see 30
DeleteSo uvxy should pop
CCL spiked on open!
ReplyDeleteWe hit August 7th turn date. Government announces free money over the weekend. August 7th has coincidenced with a low for CCL.
DeleteEven a dead clock right twice a day
DeleteSc. Uvxy hit 21 today.
ReplyDeleteMy paid subscription says spx going to over 4000 not trading advice just saying.be cautious with the bears.
ReplyDeleteAnd whats his name
DeleteWho is stating over 4000 ?
Deletesc
ReplyDeleteI have more than one paid subscriptions--most of them are saying that the Nasdaq has a topping formation--it is right in the middle of the projection.
The next projection on the nasdaq is lower
the spx and the rut may have higher projections
we have to wait and see---sector rotation is key
Yes Nasdaq was really strong out of the gates since March but since mid July it has struggled.
DeleteSPX and small caps are stronger.
Top gainers list today resorts, cruiseships, airlines.
ReplyDeleteIt's all about leverage. Sure we could have just bought SPX but the leveraged stocks benefit the most.
DeleteMy favorite is Carnival CCL simply because it fits a model I use.
DeleteBack to school will come quickly and people will feel a sense of normalcy.
ReplyDeleteNot to mention the fact they are getting free money which of course they will spend foolishly.
sc,
ReplyDeleteThat is true--ccl could hit 18
I dont see uvxy going back to 10 without a pull back in this market
It may go to 25 or 26 to reload the Nasdaq
any thoughts on this idea?
There are a couple things. US China trade meeting August 15th.
Deletelisten to David Hunter on Palisade radio
ReplyDelete4000---is parabolic
ReplyDeleteI am trying to find out if there is a pull back in the short term
That is my question???
David Hunter feels ww are going parabolic
ReplyDeletesorry we not ww
ReplyDeleteDavid Hunter has 4200 to 4500 by the summer, or possibly later, a tall order, but this market is so out of wack, i give it a chance...
ReplyDeletewhat does WW mean???
ReplyDeleteMassive gap up CCL!
ReplyDeleteRussian vaccine hahaha
DeleteFrom Russia with Love
Deletehttps://youtu.be/6lRuXckWC_8
good call sc
Deletesc,
ReplyDeletemost of the Dow stocks are up
oil-airlines-
the DOW is running
we need another company that can move in this environment??
Lol tommy calm down brother
DeleteGUSH still good
DeleteCovered gdx short here 40.60
ReplyDeleteNice!
DeleteI lightened up CCL a bit. Also I had some CCL calls which I exited completely today.
ReplyDeleteToday's gap probably fills
DeleteCCL hit 50 dma. Settling back
DeleteCovered tqqq short 120 75
ReplyDeleteBought tqqq at 121.60
ReplyDeleteSold tqqq 124.40
ReplyDeleteSold uvxy 22.50
ReplyDeleteYou probally going a little higher but i will reposition
ReplyDeleteim thinking 3218 might be a good buy the dip to 3292 to 3218
ReplyDeleteTqqq is just an animal elso udow
ReplyDeleteShort and long made money with sq today yhanks to my friend david
SC, how do you know the move down in November will be bigger than March?
ReplyDeleteWell first we have important points to address. The charts are coming and it is best to take things one step at a time.
DeleteThere are things I have not said yet because I see these events coming from a mile away.
DeleteMy predictions after too many beers. nugt 80 is a buy. HZD can run to 4.75. SPX close the gap at 3275
ReplyDeletegood prediction thats a possibility
DeleteShorted tqqq 126.30
ReplyDeleteShorted more tqqq 127.50
ReplyDeleteany downside target?
Deletefor tqqq?
Deletetqqq or spx. seems like we are toppping around here...
DeleteMaybe 3494 double top then 3318 to
Delete3270 For some reason every time to market drops things seem to be better than expected even though that really bad
i meant to say 3394
DeleteShorted more tqqq at 128.20
ReplyDeleteLouis thoughts on uvxy ?
ReplyDeleteI am expecting a minor pullback in the S and P 500 I'm expecting a pop on August 17th 18
DeleteReloaded long CCL $15.15
ReplyDeleteWe lightened up yesterday anticipating settling back and we got it.
DeleteCCL $18 next week
DeleteShorted more tqqq 128.50
ReplyDeleteShorted more tqqq at 130.40
ReplyDeleteSC... can you please show us the long term SPX chart with the target you said you had in mind for later on this year please?
ReplyDeleteThank you
Yes
DeleteSC,
ReplyDeleteIt is very hard to release SPX chart---not being able to predict the politics that control this market.
It could be 100% right or the direct opposite
although--It would be nice to see the chart!
TDunn
It's already predetermined.
DeleteI heard this constantly this year. All the "uncertainty".
There is no uncertainty at all.
It is set and unfolds as it should.
We could see 100 percent fib on this move
ReplyDeleteShorted NQ with you. What is your downside target?
DeleteThis comment has been removed by the author.
DeleteWhat do you mean louis ?
DeleteFib retracement 3460
DeleteIm looking for 10 buckd doen on tqqq
Deletewhich means what Louis
ReplyDeleteIt means there's a possibility that we could get the 3460 on the SPX before we drop hard it's not a guarantee though
Delete0r close to 100 percebt fib retracement
ReplyDeleteCarnival $7.9 billion of cash as of July 31, 2020
ReplyDeleteSo much for the BK rumors lol
DeleteCovered tqqq 126
ReplyDeleteDhort tqqq at 128.10
ReplyDeleteshort i meant to say
ReplyDeleteAha.... September 21st.
ReplyDelete"Canadian and U.S. officials have agreed to keep the border between the two countries closed to non-essential travel for another month. This comes as both countries are still working to stop the spread of COVID-19, and as tensions continue to flare between Canadians and prospective American visitors.
The current extension of the cross-border agreement expires on August 21, though as the spread of COVID-19 continues in both countries, the restrictions on recreational travel will remain in place until at least Sept. 21"
What does this mean? are we in Canada going to get invaded?
Deletehaha
US Canada border reopen September 21st.
DeleteIt means the back to school thing will fail by Oct 15 and we will be in lockdown again. Coincides with elections. I can see the SC mega vix playing out. Until then, everything is rosy
ReplyDeleteI saw an article about previous major crashes. Many crashed again in 6 or 7 months later.
DeleteThanks Dennis! Interesting
DeleteSc how high do you see the spx going before it tops out ?
ReplyDeleteThe SPX chart will be posted soon with target levels
DeleteIn July I told you that someone prominent was about to die of Covid before September.
ReplyDeleteI had suspected Bolsonaro, Brazil's President, but it turned out to be Robert Trump, Donald Trump's brother.
"Robert Trump, the president's brother, dead at 71"
DeleteThere not saying he died from covid
Deletesc-
ReplyDeleteThat is true----they are not saying:
What he died from???
Nasdaq coming out with a volatility index in the near future.
ReplyDeleteCCL going dowwwn
ReplyDeleteEven though cruise lines aren’t open I don’t c a pop b/c of hurricane season and news always reporting Covid cases. Just a tough environment for cruise lines or airlines
DeleteLast two weeks strong performance for CCL. Both up. We'll see maybe it's due for a down week to consolidate.
DeleteGood points though and agree generally
DeleteBought a littke KODK $7.70.
ReplyDeleteJust for fun. It is approaching moving averages both on daily and weeklies that may provide support plus I have a long term fork support at $7.35.
DeleteAnybody have any thoughts on an oil spike soon?
ReplyDeleteI bought HQD 7.02 hoping 7.20 so by tomorrow
ReplyDeleteI think gold is interesting here. They say the miners have not gone up enough to compensate for increase in commodity. You can play it through nugt (bull) and dust (bear). So today, Buffet was said to have put a big stake into Barrick. The gold miners (nugt) soared. The price tested $2000 that it previously blew through. We will see if it makes a commitment over 2000. Else, it could test long term support at 1750, which coincides with the 1.5 yr chart low trend line on bullish channel. Im out right now bull/bear
ReplyDeleteOh, and a close below 1950 could indicate a downtrend to support
Deleteopex on gold and silver is 8/26, they have to keep it in check or 2300 comes fast.....27 trillion in debt and 30% of all loans in forbearance are all u need to know where metals are heading, 2000 years as a reserve currency is proof in pudding
DeleteI I think
DeleteAnyone looking at uvxy at 19.50-19.60 for a trade? I’m think we see a pull back on S&P soon.
ReplyDeleteNew chart posted!
ReplyDelete