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Tuesday, November 3, 2020

$SPX - Mid-resistance

SPX bounced at the lower symmetrical triangle support. The triangle was a fitting pattern going into the Election. However, now SPX has traded to mid-resistance. Daily

99 comments:

  1. Hit a resistance and also filled the gap today.

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  2. I have no plans to add UVXY. It could be a good spot but I'll wait for this triangle to fill in some more.

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  3. The thing about triangles is that the boundaries tend to adjust. For example SPX could drop to test the September low. This would then change it into a descending triangle.

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  4. VIX looking very strong on both daily and weekly. A little time maybe on the daily, a few days to cool, but another spike looks to be coming. Weekly still rising for weeks.

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    1. Is there an inverse H & S on the daily Vix or are my eyes playing tricks on me?

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    2. Lol, yes there is. Very large inverse pattern in play.

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    3. What is the target of this h&s?

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  5. Bought more uvxy 18.85
    Bought sqqq 23.28

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    1. Im in cash no need for me to guess
      Whats gonna happen

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    2. Good strategy. You did really well with tqqq both short and long. I’m not playing with a huge amount of money, let’s see.

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  6. Uvxy just shit itself along with the vix

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  7. Yup. It was a coin toss that I lost. Only one strategy now, average down and wait for this market to go down.

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  8. https://bolsayciclos.wordpress.com/2020/11/03/sp-500-ciclo-40-dias-40/

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  9. It looks we are going to new ATH

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  10. SPX moving towards the upper triangle boundary.

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  11. SC don't you think the vix looks very bad?

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    Replies
    1. Only for this week. Going back to August VIX has been rising with higher highs and lows.

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  12. VIX is in a rising profile. I think VIX up for 8 or 9 weeks more. Though VIX maybe a couple points lower next week.

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  13. What about vix 120? You change it?

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    1. VIX 30 year trendline is at 120 and rising. That's the bigger picture. VIX spikes have been getting larger for 30 years. This year VIX retested the 2008 high. VIX is moving to the 1987 high of 170.

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  14. The outcome of the Election won't likely be decided until December...

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    1. Hey SC, looks like with Nevada, Arizina, Wisconson and Michigan leaning blue with significant votes already counted, Biden would be favorite for now. Result possibly will be clear in a day or two. Why do you think decision will be delayed till December? thx

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    2. Most likely of the amount of fraud with the mail in ballots.

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    3. It's a mess. How is it that other countries can get their votes counted but the United States can't do it.

      And then because it is contested, the challenges.

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    4. As the old Russian Czar use to say ( Stalin ) Its not who votes that determines the out come, its who counts the votes.

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  15. guys

    To the election is decided.

    the volatility has just begun.

    Wait to it is decided!

    The next month will be very volatile!

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  16. I wonder if Pheonix held on to his long position on SPX?

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    1. Yes I have. Waiting for a pull back to possibly the 3440 level before the next leg up to the 3525 level.

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    2. I never got my 3rd batch. Holding two batches.

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  17. KODK not ready for the big move yet, but it is warming up. $9 pre market trading!

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  18. wow Louis..balls to the wall this morning eh?
    heheh

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  19. biotech blow off top just starting.....

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    Replies
    1. The clueless guy with another clueless analysis... buying the top again:))))

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  20. Markets gonna get hammered into 13th 14th

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  21. This has to be a big short coming --the bulls are at all time lows
    most of Europe is shut down- the highest amount of covid -19 cases in months-no president yet - states all tired from counting ballets.
    we are closer and closer to a top of range and Pelosi and McConnell are trying to decide to give out stimulus to millions of people that economy shut down on

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    1. I dont trade because carona or hurricanes lol

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    2. Dunn6ster. That is all noise. I do not know one Good trader that trades off of news head lines. The corrupt media is just their to entice and mesmerize you to take you off of your game plan.

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  22. True,

    The FED---is supporting the market ---showing other countries or entities not to play with american economy

    lets see what happens?






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  23. SC are you buying UVXY here?

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  24. I'll wait for next week. SPX did hit the triangle trendline today. However, notice that the upper is steeper than the lower. Might see a reaction now, but the line may expand next week.

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    Replies
    1. If you look at futures, the steepness of triangle is relatively similar (on NQ and ES)

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  25. Sc thanks. How high u think for spx

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  26. guys

    When the presidential results are held hostage by the Nevada,
    probably because they need more betting on the presidential results. This may be bigger than Super Bowl!

    This will not end well!

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  27. SC are you loading up uvxy at these levels?

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    Replies
    1. It is certainly looking enticing at these levels. But I am not going to bite yet. Soon.

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  28. pheonix,


    some time next week

    This rise is not --correct---like the market is being supported for a reason--there is a floor there for reason!

    stimulus driven!

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    Replies
    1. The markets are ALWAYS CORRECT. Its the traders who do not interpret the biorhythms ( rise and falls of the market correctly )

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  29. SC what do you think about the vix?

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  30. I would like to see the sp sell off to the 3470 to buy another batch for the next leg up in the 3575 level.

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  31. https://www.youtube.com/watch?v=4v8ZhN-djhI&app=desktop

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  32. Gold appears to be breaking out to the upside

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  33. Well are you all enjoying the show...

    SCOctober 8, 2020 at 8:42 AM

    "We're getting ready for the show..."

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  34. Donald Trump makes a comeback next...

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    1. ABSOLUTELY CORRECT SC !! Many shocking revelations with FACTS are on their way. Even the Democrats voters will be shocked. May the truth set us free !

      This comment is from a Canadian.

      All the best every one.

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  35. Now everything makes sense, why biden stayed in the basement . They knew what was doing on behind, what the dem run gov. Will do. Remains to be seen- looks impossible right now. But one thing sure - the elections in usa are embarrasement and - banana republic . Jimmy carter used to go oversee elections in other countries, he should do it here. We are not set up for close elections

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    1. Exactly, it is an embarrassment, and adding to a long list. The USA is in crisis.

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  36. SC, when you called $13 on UVXY, I thought “WOW, that’s a long ways away”. But here we are, knocking on the door.

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  37. There would be a civil war if trump weasels out a win.... slim chances

    4 million more Americans... thats 4 million .... want him gone...

    Were not talking about 100 or 200k here


    Thats a massive massive spread

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    1. How dare you use the words “weasel” and Trump in the same sentence!

      I think you meant the weasel Biden who was so far down in the election that 5 states literally had to pull the emergency brakes for several hours in order to fly in and makes those 130,000 vote drops for Biden at 4 am all over the place...not suspicious at all!

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  38. stupid vix is in contango by a large margin again...

    when they roll uvxy vix contracts its going to go down alot more it seems again...

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  39. wasn't the case a week ago.. it was in backwardation...

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    Replies
    1. Yes, the VIX futures have shifted to December peak in the curve.

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  40. There it is they've called it for Biden!!!

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  41. Initially Trump will push back and it is contested, but as stated before Trump will comeback. Remember Trump is there until inauguration January 20th.

    For the market January 20th is more important than the Election date itself.

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    Replies
    1. SC,

      TRUMP WILL BE THE PRESIDENT COME INAUGURATION DAY....

      Mark Jan 20 on your calendar

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    2. It's sure going to be interesting Payday!!!

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  42. I presume some tax related selling will happen in December now that Biden has won.

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  43. Special Update has been posted!!!

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