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Post by walnut on Dec 15, 2014 17:28:09 GMT -5
Markets red, VIX red, VIX scams red, oil red, gold red, silver red, and easily the craziest intraday chart I've ever seen in spot VIX. Something's seriously wrong with this market. Yeah, way too much gov't involvement. It is not a natural market.
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Post by novie08 on Dec 15, 2014 18:01:16 GMT -5
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Post by huh on Dec 15, 2014 18:01:40 GMT -5
VIX filled the last remaining upside gap today, and VIX scams were red. UVXY completed a 76.4 FIB retracement exactly from 10/21 high with today's high.
All this would would lead me to believe the market's about to turn up, majorly up.
However, indices still look like &$^#. IWM closed under all 3 major dmas, SPX confirmed a large rounded top H&S, NDX & GOOG look to be forming large island tops, commodities still look bad, XLE bad, emerging/foreign markets crashing, even C & XLF look to be forming a topping pattern now.
I've never been so undecided about the market. It feels almost like total risk off; long buys, calls, puts, everything. Either it starts a run to new highs tomorrow, or, something else...
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Post by Herceg on Dec 16, 2014 9:11:59 GMT -5
Until S&P breaks above the 2025/2026 area, it's still only a bounce. JMHO If it does not hold the 2000 area, next strong support is in the 1970's area................... JMO and BOL................... It touched 1982 yesterday and I currently have 1976 area for support................. JMO and BOL
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Post by huh on Dec 16, 2014 9:21:37 GMT -5
If it does not hold the 2000 area, next strong support is in the 1970's area................... JMO and BOL................... It touched 1982 yesterday and I currently have 1976 area for support................. JMO and BOL I'm thinking this turns out to be a really, really awesome call by you, Herc.
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Post by Herceg on Dec 16, 2014 9:38:33 GMT -5
1976.45 area touched and bounced................will see if it holds and runs into Christmas or does it get a lump of coal............
BOL to all...................
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