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Post by theMist on Jun 2, 2017 11:01:49 GMT -5
S&P 4 HR ChartS&P should get to large iH&S target of S&P2468ish -- S&P feels like its racing towards it after hitting S&P small iH&S target at SP2430 I emailed my friend Jim over at sp500chart.com to see his thoughts on possible large ascending triangle If large ascending triangle pattern proves valid -- can put S&P at around SP2530ish Would also line up with apex of rising wedge
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Post by lasvegas77 on Jun 2, 2017 11:02:21 GMT -5
LV - You around? Whatcha up to? Thinking? I know Walnut leaves early for work on Fridays Talk to me somebody! lol Good morning Mist! Days like this I find best to sleep in as the time helps push it down a few pennies. It's difficult to watch this early in the morning when it doesn't do anything. I woke up at 5:30am and saw that mini spike on the job numbers but went back to bed anyways. Might hold over the weekend unless I see an exceptionally good price today. Now time for some coffee.
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Post by ipath on Jun 2, 2017 11:05:23 GMT -5
I think that's a great idea. Even if it doesn't I was planning to cover before the final hour. Mist, I read you believe in SE reaching 2470ish. What do you think are the chances of it breaking through those levels and keep going up. I was thinking to position myself very defensively around those levels, but don't want to become a beaten bear.. the bull market can hurt a bear very badly the market can stay unreasonable longer than I can stay solvent lol
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Post by ipath on Jun 2, 2017 11:07:30 GMT -5
S&P 4 HR ChartS&P should get to large iH&S target of S&P2468ish -- S&P feels like its racing towards it after hitting S&P small iH&S target at SP2430 I emailed my friend Jim over at sp500chart.com to see his thoughts on possible large ascending triangle If large ascending triangle pattern proves valid -- can put S&P at around SP2530ish Would also line up with apex of rising wedge you answered my question before I asked
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Post by theMist on Jun 2, 2017 11:08:06 GMT -5
I hear ya LV So far those lower BBs on small timeframes are proving difficult along with that descending VXX support at around 13.09 -- But keep in mind that support is descending over time Watching VXX form a possible H&S (within a bear flag) on small 1 min timeframe -- if its plays out then VXX will definitely hit 13 today VXX 1 min chart -- possible H&S within bear flagIf VXX can break that lower support line then should hit 13 today
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Post by theMist on Jun 2, 2017 11:17:29 GMT -5
VXX 15 min chart showing descending VXX support at 13.09 that VXX hit today
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Post by lasvegas77 on Jun 2, 2017 11:18:54 GMT -5
This is the tightest range on vxx i can remember on a job numbers day.
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Post by lasvegas77 on Jun 2, 2017 11:25:53 GMT -5
The Vix nearly touched its recent lows of the last couple of decades. 9.65. Then it bounced. Now it's looking like it will test those lows again.
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Post by theMist on Jun 2, 2017 11:39:59 GMT -5
VXX 15 min chartShows more clearly now the descending channel that VXX is in (shown in red) VXX consolidating sideways and at some point should drop to new LOD -- as long as S&P stays calm like this
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Post by theMist on Jun 2, 2017 12:15:55 GMT -5
Come on my Babies!! Make NEW LOD!! Gotta keep pounding the VIX SCAMs lol VXX 13.13
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Post by theMist on Jun 2, 2017 12:22:51 GMT -5
VXX 5 min chart widened bear flag lower Bollinger Band right at support and proving difficult to break lower so far
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Post by lasvegas77 on Jun 2, 2017 12:30:27 GMT -5
white house press briefing coming up shortly.
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Post by theMist on Jun 2, 2017 12:42:52 GMT -5
VIX SCAMs stuck in neutral whiule S&P just about hits SP2340
Taking profits -- closed out short VXX position @ 13.13
VXX stuck in tight range
will wait out and look to reshort again
5 min candles putting in long bottom wick -- that last one took out my order to cover at 13.13
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Post by theMist on Jun 2, 2017 13:00:07 GMT -5
Very frustrating to watch VXX stay flat while S&P runs higher
VXX may look to pop back up now to go flat
VXX hits 13.20 range again and I will look to reshort
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Post by theMist on Jun 2, 2017 13:32:06 GMT -5
I knew they were going to bring VXX back up after it stauled like that with S&P rising and hitting SP2440ish
S&P would have to rise another 10 handles above the HOD for VXX to break 13.09 and INSTEAD the risk became some profit taking at EOD with rising VXX
Whenever the VIX SCAMs staul like that with S&P rising hard - it's the sign to cover short when scalping
VXX 13.20
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Post by theMist on Jun 2, 2017 13:53:37 GMT -5
That pop to VXX 13.22 widened the Bollinger Bands
VXX currently 13.16 -- maybe now it can break lower -- At some point VXX will get to 13 - just not sure today or next week (but looking more like next week IMO) today -- premarket low 13.06, reg session low 13.09
Final hour coming up
talk to you guys later
Have a good weekend ALL
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Post by lasvegas77 on Jun 2, 2017 13:56:34 GMT -5
Have a good weekend mist. You gonna miss all the last hour fun?
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Post by theMist on Jun 2, 2017 13:58:23 GMT -5
Have a good weekend mist. You gonna miss all the last hour fun? Ya think VXX puts in new LOD in final hour?
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Post by lasvegas77 on Jun 2, 2017 13:59:48 GMT -5
I think it will. only 5 cents away, right?
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Post by theMist on Jun 2, 2017 14:02:51 GMT -5
I think it will. only 5 cents away, right? I'm thinking maybe a little profit taking in final hour after almost a 30 pt S&P run up since yesterday Might put floor under VXX from dropping to new LOD (currently 13.09) Or simply just a little hedging in final hour S&P 2438.11, VXX 13.16
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