I think we'll see VIX 33 area tomorrow, and another push higher on the market. I'd like to see the gap window closed a 111.78 spy, but it might not go that high?
A gap up open tomorrow would be good for the bears, and that means they plan on taking it back down fill the gap. The move we just had, left a gap at 1087.95 spx, which will also be filled at some point in time.
Whether that is today, tomorrow, to later in the week is unknown. But they always go back a fill gaps at some point, and it' usually when they get close to it.
That's why I believe the 111.78 spy gap will be filled, as it's like a magnet right now, and the market want's to go there. If it makes it there, it will be the perfect spot to go short.
It's looking like it's trying to break free from this downward sloping trendline now. I'm still looking for a push up today or tomorrow, and then I will go short again.
I haven't seen any clues either way yet… I'm beginning to think that this is all the upside we are going to get. If the market doesn't have some good news to cause a gap up tomorrow, so it can get out of this channel it's trapped in, we could have more selling tomorrow.
I just looked at the 60 minute, 30 minute, 15 minute, and 10 minute charts in my Think or Swim account. There is a downward sloping trendline that is keeping this market from advancing.
It's riding the top trendline of this channel. It's unlikely to push through today. Which means that it will either have too gap above it tomorrow, or fail and continue selling off.
It's very bearish right now, as I really expected a gap up this morning. Not a huge one, but something to get out of this channel. The 60 minute charts are looking to be overbought soon, which means that tomorrow could be a down day… unless the market can gap up out of the channel?
Yes Jim, I agree. The fact that the Nasdaq didn't put in a lower low, and neither did the SPY, that is also a sign that we haven't but in a bottom yet.
I think we'll see VIX 33 area tomorrow, and another push higher on the market. I'd like to see the gap window closed a 111.78 spy, but it might not go that high?
A gap up open tomorrow would be good for the bears, and that means they plan on taking it back down fill the gap. The move we just had, left a gap at 1087.95 spx, which will also be filled at some point in time.
Whether that is today, tomorrow, to later in the week is unknown. But they always go back a fill gaps at some point, and it' usually when they get close to it.
That's why I believe the 111.78 spy gap will be filled, as it's like a magnet right now, and the market want's to go there. If it makes it there, it will be the perfect spot to go short.
VIX is comatose in the locker room…
It's looking like it's trying to break free from this downward sloping trendline now. I'm still looking for a push up today or tomorrow, and then I will go short again.
I am surprised the VIXES, vix and rvix are down 8-9.5% in a weird day.
leads me to think the eod pop will materialize
I haven't seen any clues either way yet… I'm beginning to think that this is all the upside we are going to get. If the market doesn't have some good news to cause a gap up tomorrow, so it can get out of this channel it's trapped in, we could have more selling tomorrow.
Any false prints to the upside? I think Anna got some.
I just looked at the 60 minute, 30 minute, 15 minute, and 10 minute charts in my Think or Swim account. There is a downward sloping trendline that is keeping this market from advancing.
It's riding the top trendline of this channel. It's unlikely to push through today. Which means that it will either have too gap above it tomorrow, or fail and continue selling off.
It's very bearish right now, as I really expected a gap up this morning. Not a huge one, but something to get out of this channel. The 60 minute charts are looking to be overbought soon, which means that tomorrow could be a down day… unless the market can gap up out of the channel?
Failed three times, I don't think too many more re-dos.
Yes Jim, I agree. The fact that the Nasdaq didn't put in a lower low, and neither did the SPY, that is also a sign that we haven't but in a bottom yet.
Nice job on the video. i see a perplexing few days. i took profits on Friday and bought back a smaller position at lows on shorts.
i too am looking for a bounce but as you pointed out along w/ chart trader oscillators are still pretty neg except on 60.
I really expected a follow through on Fridays action. NASDQ never touched bottoms and is the leader now.