SC, Do you still think NDX will correct more with a lower low. I notice it hit the 50 day MA but failed to cross. It also hit your trend line on your last chart. What are your thoughts?
You mentioned earlier that UVXY would decline to $5 based on capitulation. However, I thought you also said there would be a decline in the S&P 500 the latter half of March. Is that correct?
Do you see UVXY rising in price from here (mid March) and then falling down to $5 after March?
UVXY is in a tight range similar to how it traded in December. It makes little pops but nothing of size. I am just waiting for it to capitulate at this point. SPX is just choppy.
The time has come to get serious about shorting Oil.
ReplyDeleteWhat target?
DeleteDRIP targets $14 March and $16 April.
DeleteAnd crude oil?
DeleteCrude Oil was invincible in early February but notice that Oil is now seeing some dips. The run is looking mature. Crude $52 target maybe $50.
DeleteRIG shot up like a rocket yesterday. It is also an indication that the Oil market is overheating.
ReplyDeleteWhat is your target to buy drip?
ReplyDeleteAlso, where do you see Spx topping before next leg down?
Looking for DRIP entry but no position yet.
DeleteSold KODK $10.00.
ReplyDeleteSPX is trying for that 4,000. Timing is interesting for a high soon because it is the opposite of last year's panic low.
ReplyDeletesc,
ReplyDeletelooks like your SPX 4000 and Demarks Spx 4009 will be hit ---probably tomorrow?
SC, Do you still think NDX will correct more with a lower low. I notice it hit the 50 day MA but failed to cross. It also hit your trend line on your last chart. What are your thoughts?
ReplyDeleteMost of the decline is in place, but yes it's hitting that resistance line. NDX still should retest the low.
DeleteSC,
ReplyDeleteYou mentioned earlier that UVXY would decline to $5 based on capitulation. However, I thought you also said there would be a decline in the S&P 500 the latter half of March. Is that correct?
Do you see UVXY rising in price from here (mid March) and then falling down to $5 after March?
UVXY is in a tight range similar to how it traded in December. It makes little pops but nothing of size. I am just waiting for it to capitulate at this point. SPX is just choppy.
DeleteAre you still waiting on Drip position?
ReplyDeleteYes
DeleteSC, drip and ndx low any correlation? Thanks:)
ReplyDeleteDRIP may drip a little more but it's near the turn.
DeleteWhy u dont post these updates on twitter? Only this way more and more people would get interested in ur ideas
ReplyDeleteYes, thanks I will. There's very exciting trades coming up...
Deletesc,
ReplyDeleteare you still looking for SPX 4000?
Yes SPX 4,000. Let's see it. It looks tired but it can get there.
DeleteAbsolutely tommy
ReplyDeleteLou,
ReplyDeleteThank you!
check out AMC
ReplyDeleteYup
ReplyDeleteNok
ReplyDeleteWish to 50
ReplyDeleteSC, do you have a low you’re looking for on drip?
ReplyDeletescott,
ReplyDeleteyeah---Spx 4009---but drip them????
the SPX has to break 4000 first!
Thanks Dunn6ster!
ReplyDeleteFinally UVXY dropping! Taking a hard hit!!
ReplyDeleteDo you plan to buy it in the 5s?
DeleteThanks
It is getting more interesting watch. VIX chart is coming.
DeleteNew chart posted!
ReplyDelete