i can smell bear trap, i can see bounce written all over the short term time frames – but i am gonna hold overnight. – its that daily VIX. more times than naught, when a black bar breaks through the middle bb from the lower, the vix POPS the next day (sometimes substantially). I have to let the vix prob. lead me on this one….. and also i believe in the FP – and i believe we need to get to 8300 in short order…… say a prayer for me red – tommorrow may grind me up and may stuff me in a can of bear spam…..
thanks red, i am watching that count closely….. i will make the call in 1 hour…… but its that dumb ole VIX that is telling me to hold on…. any black bar move on the vix daily that punches through the middle bollinger and stays above always gaps up the following day….
I did get out a little early today, as I was expecting only 3 waves in today’s pattern. We are now on wave 5 down (of wave 1 down), which should be ending shortly. Just be prepared for a possible wave 2 up tomorrow.
If today took 5 waves down, then tomorrow should be an ABC (3 waves up) move.
The 60 minute chart is oversold, and starting to hook back up. The 15 minute chart is now pointing up and about to cross the zero mark. The 5 minute will go negative shortly and reset back up within 30 minute or so.
This allows the perfect setup for the bears to get squeezed out tomorrow on some bogus job’s data. We all know how the game is played by now. The charts only work for the bulls, not the bears… and right now they are clearly oversold.
Add that with the new FP of 129.53 spy, and you have a short squeeze in the makings! Maybe I’m wrong, and just a little paranoid… who knows, but I’d rather be safe then sorry.
And we are now putting in a double bottom with very light volume still. Just do the math…
so far, we have a break above the middle of bollinger on the VIX. if we stay above, there is a gap fill above it maybe looking to fill for today/tommorrow? – which means more selling….. will keep looking.
Not confident in your shorts anymore? That statistical data on Thursday looks like a dream day for bears but I guess those charts don’t account for manipulation either.
HUGE red candle on IWM—IWM topped for the Q yesterday, pullback has started.
well red,
i can smell bear trap, i can see bounce written all over the short term time frames – but i am gonna hold overnight. – its that daily VIX. more times than naught, when a black bar breaks through the middle bb from the lower, the vix POPS the next day (sometimes substantially). I have to let the vix prob. lead me on this one….. and also i believe in the FP – and i believe we need to get to 8300 in short order…… say a prayer for me red – tommorrow may grind me up and may stuff me in a can of bear spam…..
Stupid A, FP, non- believers, Shorts are making tonnage, raising my stops.
I am still holding shorts – looks like more selling… VIX @ HOD
thanks red, i am watching that count closely….. i will make the call in 1 hour…… but its that dumb ole VIX that is telling me to hold on…. any black bar move on the vix daily that punches through the middle bollinger and stays above always gaps up the following day….
I did get out a little early today, as I was expecting only 3 waves in today’s pattern. We are now on wave 5 down (of wave 1 down), which should be ending shortly. Just be prepared for a possible wave 2 up tomorrow.
If today took 5 waves down, then tomorrow should be an ABC (3 waves up) move.
The 60 minute chart is oversold, and starting to hook back up. The 15 minute chart is now pointing up and about to cross the zero mark. The 5 minute will go negative shortly and reset back up within 30 minute or so.
This allows the perfect setup for the bears to get squeezed out tomorrow on some bogus job’s data. We all know how the game is played by now. The charts only work for the bulls, not the bears… and right now they are clearly oversold.
Add that with the new FP of 129.53 spy, and you have a short squeeze in the makings! Maybe I’m wrong, and just a little paranoid… who knows, but I’d rather be safe then sorry.
And we are now putting in a double bottom with very light volume still. Just do the math…
so far, we have a break above the middle of bollinger on the VIX. if we stay above, there is a gap fill above it maybe looking to fill for today/tommorrow? – which means more selling….. will keep looking.
Not confident in your shorts anymore? That statistical data on Thursday looks like a dream day for bears but I guess those charts don’t account for manipulation either.
Good luck Richie… maybe I’m wrong on this intraday print?