Next week will be important to see if there is follow through on the volatility this week. There hasn't been much volatility since the November election. Although not likely the start of a major move, we may be entering a more volatile phase in markets. Weekly
Happy times ahead! Thanks, SC. I see current bounce as short term in US indexes, next SPX downside target to be reached in May is 3969 or lower.
ReplyDeleteThanks Alex! It is getting more interesting!!
DeleteSC are you in rig or waiting to buy?
ReplyDeleteThanks
Long RIG. Colonial sorted out their pipeline issues but that won't stop gas prices from rising. RIG consolidating, but yes it is getting ready to run. The 50 dma is at $3.62.
Deleteocgn----looks cheap---???
ReplyDeleteIt still looks too early to hold OCGN as we wait for the next run. Biotech sector is out of favor at the moment. XBI still looking bearish. Daily chart XBI about to make death cross.
DeleteVaccine stocks down again today MRNA, NVAX. OCGN is of course the most junior so it gets hit hardest. But when it goes up, it runs hottest.
So I think we have to wait patiently for the sector to turn around. OCGN is preparing their FDA filing for approval. OCGN is going to be great once we have a low in place.
Charts estimate 3 weeks for OCGN to bottom.
Notice that OCGN found resistance at $10. $10 was the recent offering price for $100 Million subscribed by healthcare institutions.
DeleteThank you, SC. May time together with correction in the indexes. Definitely on the watchlist for buys.
DeleteThe news is finally out UVXY will reverse split 1 for 10 May 26th
ReplyDeleteanyone following AMC
ReplyDeleteAMC looking healthier than GME
DeleteGME UP 11%
ReplyDeleteAMC up 33%
Guys,
ReplyDeleteThey hacked the Pipeline---but they did-not hack the election--think about it!
True its all a scam next they will hack our food supply
DeleteSc,
ReplyDeleteWhen are you looking to take a position--before or after the split---on a double bottom scenario---the Vix can go to Thirty?
Dennis Gartman is looking for DJI---down 7000 points--this summer (the next pull back)
Volatility dissipated. Probably waiting until after the split but we'll see
DeleteDennis Gartman is wrong 80% of the time.
ReplyDeleteFollowed him.Did the opposite of what he said.Made good money
ReplyDeleteDumped tqqq 96.80
ReplyDeleteVix---back over Twenty
ReplyDeleteEnergy is the top-performing S&P 500 sector for 2021
ReplyDeletetsla----looks like 450 to 500 for a bottom?
ReplyDeleteSc any charts on bitcoin ?
ReplyDeleteBitcoin etf considered in June by SEC
DeleteLong tqqq 87 to 89
ReplyDeleteI'm expecting a big move up
ReplyDeleteSC, do you think vix start the movement to 80 or more?
ReplyDeleteNo I mean this is small stuff. Later
Deletesc,
ReplyDeletewe need gap fill at SPX 4200 area?
That should take the VIX down to 18--the fed was told not to let this down --the fed pump should kick in today or tomorrow.
Good call Tesla!
DeleteThat's what I am thinking generally too. 4,160 then may come again
DeleteBought PG again. Loaded up on WFC,thank you Warren B👍👍
ReplyDeleteSold PG💖
DeleteSC, so you think the vix go doun again?
ReplyDeleteYes VIX settle down, but I will be planning volatility trades June through September. It's going to be a rocky market.
DeleteSold tqqq 97.19
ReplyDeleteGood trades Louis. Likely to go down again for triple bottom.
DeleteI am waiting for big drop i believe a good target for upside would be 4188 gap fill we should fill april gap and upper gap we will see what come first
DeleteUVXY filled gap but will wait until after split. I see setup for a larger UVXY trade
ReplyDeleteSC, what your target ?
ReplyDeleteLet's let this progress, too early
Delete4,160 SPX exactly!
ReplyDeletePerfect👍👍
DeleteInvestview.com listen to this video this company a little powerhouse
ReplyDeleteSC, don't you think we are going to the top? Or more?
ReplyDeleteYes slowly
DeleteNot to Friday---next week!
ReplyDeletethose are minor tops t bone
DeletePinned at 4,160. It's pretty quiet
ReplyDeleteWeekly Bollinger bands on indexes are not coiled enough yet for the pronounced intermediate correction move, making me think we have this choppy grind/zig-zag sideways-lower still for few weeks.
ReplyDelete$UTIL is one of the leading indexes and having a look at it's recent price action, think we can overlay it to depict possible DOW's action in the near term. https://stockcharts.com/c-sc/sc?s=%24UTIL&p=D&b=5&g=0&i=t5505091531c&r=1621694645685
Thanks Alex. SPX definitely a grind
Delete@sentimentrader · May 21
ReplyDelete"Somebody's feeling frisky.
Small speculators piled in this week and moved to a record net long of $34 billion. That exceeds the prior record of $31 billion from March 2001."
Sqroot NOTE: They were early in 2001, the low came in April.
It is interesting thank you. Retail traders getting in there bigger this time...
DeleteIs there anyone watching BOIL (Nat Gas)? It usually starts go up during summer time and Oil went up huge recently. Any ideas?
ReplyDeleteNew chart posted!
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ReplyDelete