Yeah moon… It's going to fool a lot of people, just like the run up from 104 fooled people. I don't think anyone thought we could go as high as we have. We should have entered a wave 3 down last Friday when we were in the 1075-1080 area.
But, someone intervened and gapped up on Monday and stopped the fall from happening. Something is up, that is for sure.
Absolutely fantastic chart.
Great explanation Red. Learned a lot from this post – thanks.
Thanks!
Sundancer
So your looking for double bottom in Vix around 16.26? would this be ideal short set up in your opinion?
thanks
he is mentioning the 720 day moving average
Thanks!
fits with long monday short wed pattern lol
next week is going to be most important week we've had in a while, given the monthly setup and potential weekly setup
There's a ton of different inputs all converging here
some clues to watch will be if they run the stops above 1150, but AAPL doesn't print a marginal new high.
Remember I pointed out a couple weeks ago that AAPL didn't make a new low on 2/5/2010 while the $SPX did.
The action in the $RUT is going to be very interesting given it's monthly setup.
I'd also like to see the $VIX hit 16.26 as indicated many months ago.
The monthly close is as important as the monthly open is, so the open on March 1st will be a marquee event.
Yeah moon… It's going to fool a lot of people, just like the run up from 104 fooled people. I don't think anyone thought we could go as high as we have. We should have entered a wave 3 down last Friday when we were in the 1075-1080 area.
But, someone intervened and gapped up on Monday and stopped the fall from happening. Something is up, that is for sure.
thanks for your efforts red next week is going to be interesting.