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Post by theMist on Apr 27, 2017 12:47:33 GMT -5
Good call on the head and shoulders fail/ bull breakout That was a throw back over neckline with Bear squeeze. It takes serious wind out of Bears and puts serious dent in pattern. Think about the move -- H&S confirms with move below neckline and then Bears put in stops just above neckline. Get tripped up real fast when SP moves above neckline. H&S patterns don't truly fail until gets over the Head. S&P can also trend sideways for quite some time and destroy pattern further.
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Post by walnut on Apr 27, 2017 12:51:06 GMT -5
Yeah I have my fingers crossed
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Post by theMist on Apr 27, 2017 13:35:13 GMT -5
Take down the VIX SCAMs sweet Jesus! Take them DOWN! VXX 14.98
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Post by theMist on Apr 27, 2017 13:38:32 GMT -5
With VXX 15 starting to crack - if pattern plays out -- looking at VXX in 14.50 range
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Post by theMist on Apr 27, 2017 14:11:24 GMT -5
Big earnings after the bell
Amazon, Microsoft, Intel, ...
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Post by theMist on Apr 27, 2017 14:23:10 GMT -5
S&P FuturesEven though this H&S pattern wasn't ready to play out before - it's still not technically broken Gap down overnight and can easily still pan out with more and more time chances become less likely talk to you guys later -
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Post by theMist on Apr 27, 2017 14:41:48 GMT -5
VXX Hourly ChartBefore I go - I believe this will be the move in VXX Bear flag plays out
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Post by theMist on Apr 27, 2017 18:09:42 GMT -5
Looks like spot VIX headed to 9s All time low for spot VIX is 8.60 made back on 12/29/06
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Post by theMist on Apr 27, 2017 19:31:44 GMT -5
Spending a lot of time rechecking trendlines and making little adjustments It is possible that with Monday's gap up that a quick backtest of iH&S neckline was put in. See arrow on chart Sometimes having the precise neckline drawn can be challenging. Time will tell. But if backtest of neckline is in, then its possible that S&P continues to new highs without backtesting 2360-67ish area There is also a falling wedge on smaller timeframe (not shown) that points to SP2400 I emailed Jim about possible neckline backtest to know his thoughts as well
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