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Post by huh on Dec 9, 2015 12:06:57 GMT -5
...and now VIX futures breaking out. Goodbye chance of a squeeze. SPX downside target ~1930 - stop against VIX futures under 18 Careful of a false breakdown/breakout though - VIX futures haven't backtested yet. Oh please, please, please market squeeze instead! VIX futures backtest would occur around 18.10, but left a gap ~18.05
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Post by huh on Dec 9, 2015 12:22:07 GMT -5
So much for hope. Dive! Dive!
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Post by huh on Dec 9, 2015 12:29:58 GMT -5
One final potential support for SPX ~2039.50. Once tagged, 2052-2053.50 becomes major resistance for downside to ~1930
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Post by huh on Dec 9, 2015 12:37:25 GMT -5
VIX futures didn't reach the backtest or gapfill, dollar's not breaking down and EURUSD not moving.
Means market could bounce right back again. Watch SPX support ~2039.
Chop chop chop
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Post by huh on Dec 9, 2015 12:40:45 GMT -5
And there's the 2039 area...and the VIX futures head test Well, so much for all of that. ES >2075 and this market would squeeze. But it's not looking good right now. <2065 and next downside target is ~2039. VIX futures could now be building an iH&S for a head test of that larger H&S.Oh the games ... the chop. I'm sick of it. Just squeeze it already for God's my sake!!!
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Post by huh on Dec 9, 2015 12:46:02 GMT -5
And here comes the bounce
Weeeeee!
This is almost fun
I tell you, if I were working for the right hedge fund, with the right software (fast software), I could make them bank. I can think & see the trades nearly as fast as the algos, but I can't trade fast enough.
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Post by huh on Dec 9, 2015 12:49:12 GMT -5
VIX futures under 17.07 would be very bearish for it, and bullish for the market. But not unless/until that happens. Until then it has a higher likelihood of seeing 19-20.VIX futures target hit (19-20) Resistance to beat in VIX futures is ~19.70
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Post by huh on Dec 9, 2015 12:51:56 GMT -5
Here's some slightly good news for bulls - the squeeze trigger for SPX dropped quite a bit with this market drop - now over 2070.50 and market would enter squeeze mode. (it was in the 2090's) Heavy resistance in the low-mid 2050's now though
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Post by novie08 on Dec 9, 2015 13:02:51 GMT -5
High yield bonds are already coming down pretty hard, if not crashing. Trouble in junk bonds=harbinger for the rest of the economy (according to some guru, don't remember which one).
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Post by birthmark on Dec 9, 2015 13:05:11 GMT -5
That old "Trapdoor" again...
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Post by huh on Dec 9, 2015 13:06:04 GMT -5
FCX looks to be putting in an intraday topping pattern, currently 7.35, mid-term downside target 4.60's, stop against 7.45 Move stop down to 7.32
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Post by huh on Dec 9, 2015 13:06:26 GMT -5
CMG filling its upside gap. It's a short again w/tight stop. 1st downside target ~490 (currently @ 559.32). Stop now if >559.25 if shorted CMG Move stop down to 558.26
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Post by huh on Dec 9, 2015 13:19:26 GMT -5
Want to see a bearish chart? IWM: A H&S-RS-Squeeze to form a double-top, and all of it consisting of multiple H&S patterns. This is why it's so important for bulls that the market try to squeeze here - and why it would have such a huge impact if it were to squeeze. If it's unable to squeeze we could expect to see back under 108 by EOY Squeeze or die
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Post by huh on Dec 9, 2015 13:35:39 GMT -5
That's 2 days in a row where the FAS LOD was -4%. Market's not in free fall (not yet)... FAS down ~4% again. Can it hold to that again? [shake, shake]
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Post by huh on Dec 9, 2015 15:01:14 GMT -5
97.60 is now major resistance for dollar futures
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Post by huh on Dec 9, 2015 15:32:41 GMT -5
One final potential support for SPX ~2039.50. Once tagged, 2052-2053.50 becomes major resistance for downside to ~1930 And here comes the bounce
Weeeeee! This is almost fun... Now for that test of resistance @ low-mid 2050's chop chop chop
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Post by huh on Dec 9, 2015 15:36:01 GMT -5
While... VIX futures didn't reach the backtest or gapfill, dollar's not breaking down and EURUSD not moving. Means market could bounce right back again. Watch SPX support ~2039. Chop chop chop VIX futures likely backtest that breakout
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Post by huh on Dec 9, 2015 15:37:08 GMT -5
And while... 97.60 is now major resistance for dollar futures Dollar will likely backtest that new resistance
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Post by novie08 on Dec 9, 2015 16:51:29 GMT -5
You will let us know when to buy this correction right HUH?
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Post by walnut on Dec 9, 2015 17:07:58 GMT -5
$37 oil and a historic market crash looming.. I am going to be trying to get one of these big old Tulsa oil houses when the SHTF this go round and desperation sets in again, unless I get caught up in the down draft too. Missed my chance last time cause I was too broke too.. Hard to predict the future
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