So much work went into this post Red. I truly appreciate it as I don't have the time to do the in depth analysis and this really helps me learn. Hopefully the answer really is in the charts. Tomorrow looks at least like it is going to open higher and I guess we'll have to wait and see what happens next.
I can't help but wonder if the start of the drop to 1020 could wait until end of day Friday. That would line up with the New Moon Trade (new moon is Sunday), when I usually load up on TZA.
aussie jobs report came out. very good one. that clearly means dollar down and spx up tomorrow unless some other news shadow that good aussie job report.
dreadwin, that hammer last Friday should have done more (to the upside in the days following) than it did. I switched to TZA for tomorrow, though the futures (as I type this) say I'm wrong.
I do agree about the warning signs regarding lower lows and lower highs. However, compared to the other indexes, $RUT looks pretty good! $RVX has not even touched its 200 day moving average.
I am expecting the triangle to resolve tomorrow. I have no idea which way it resolves, but the $VIX suggests that equities could go up. I did say that yesterday, too. I was at least half-right.
Earl, Nice update thanks, Sold half my TZA this morning. Actually got stopped out with profit. Then bought a smaller position this afternoon.
So much work went into this post Red. I truly appreciate it as I don't have the time to do the in depth analysis and this really helps me learn. Hopefully the answer really is in the charts. Tomorrow looks at least like it is going to open higher and I guess we'll have to wait and see what happens next.
Leo,
Nice post.
I can't help but wonder if the start of the drop to 1020 could wait until end of day Friday. That would line up with the New Moon Trade (new moon is Sunday), when I usually load up on TZA.
Futures are running up so far this evening.
Tonight's post is now out… sorry it took so long gang.
I can't take another ramp job tomorrow. Ugh! When will it end?!
aussie jobs report came out. very good one. that clearly means dollar down and spx up tomorrow unless some other news shadow that good aussie job report.
Tony just said: This whole correction continues to be a mess. Hard to tell exactly where we are.
Earlier today, Carl Futia (who always offers a range estimate for the day) said: I can't offer a range estimate that I have any confidence in today.
Futures are running up as I type this.
Why am I not in cash?
dreadwin, that hammer last Friday should have done more (to the upside in the days following) than it did. I switched to TZA for tomorrow, though the futures (as I type this) say I'm wrong.
Nice chart. Looks (to me) like VIX wants to go higher.
Looks can deceive me 🙂
See VIX chart in other comment.
And also:
http://www.screencast.com/users/dreadwin/folder…
I do agree about the warning signs regarding lower lows and lower highs. However, compared to the other indexes, $RUT looks pretty good! $RVX has not even touched its 200 day moving average.
I am expecting the triangle to resolve tomorrow. I have no idea which way it resolves, but the $VIX suggests that equities could go up. I did say that yesterday, too. I was at least half-right.