|
Post by theMist on Jun 21, 2017 12:18:54 GMT -5
S&P closed common gap to SP2432.99 and should be finding gap support in this area VXX should roll back over into 12.60s VXX 12.50 range still proving to be tough -- VXX lod 12.61 so far Might hit range in final hour, AH, or tomorrow -- fingers crossed
|
|
|
Post by theMist on Jun 21, 2017 12:42:57 GMT -5
What time does oil market close?
2:30pm EST?
I believe so
|
|
|
Post by theMist on Jun 21, 2017 12:57:06 GMT -5
Next S&P support SP2430
VXX filled morning gap to 12.91 and need it to drop back hard down to 12.70 range
|
|
|
Post by theMist on Jun 21, 2017 14:01:54 GMT -5
Need Buyers to step in final hour
Nasdaq has been running
and oil market now closed which is good
|
|
|
Post by theMist on Jun 21, 2017 14:49:30 GMT -5
450M TO BUY SIDE
TTYL
|
|
|
Post by walnut on Jun 21, 2017 17:25:54 GMT -5
VXX is still really following that trend line up. It is resistance now, was support. I think we will get to Mists 2468. But this vxx uptrend is telling us that something might be brewing for now. I think...
|
|
|
Post by theMist on Jun 21, 2017 18:45:47 GMT -5
Walnut - draw a slightly rising line on your chart that touches all those bottoms then draw a slightly descending line that touches all those tops
|
|
|
Post by walnut on Jun 21, 2017 19:01:45 GMT -5
I think I see what you are thinking about the trend continuing down with lower highs. But the absolute trend from June 9 through tonight is positive. It is upward sloping. I don't want to make too much of a case out of it, but vxx up-trending generally precedes moderate corrections. Who knows but I'll keep an eye on it myself.
|
|
|
Post by walnut on Jun 21, 2017 19:29:19 GMT -5
Emperor Trump is speaking
|
|
|
Post by huh on Jun 21, 2017 21:11:09 GMT -5
LOL RE: VXX - IMO, that pattern would become bullish if it were to now break above the upper line (~12.91) - in which case it would then target to ~13.39
|
|
|
Post by walnut on Jun 21, 2017 21:16:40 GMT -5
LOL RE: VXX - IMO, that pattern would become bullish if it were to now break above the upper line (~12.91) - in which case it would then target to ~13.39 If it does that, we will have already lost money, and well into a modest correction. Trying to predict in advance. Every 10 cents up is at least $2000 lol It got to 12.90 just today
|
|
|
Post by huh on Jun 21, 2017 21:18:31 GMT -5
All things considered, that kind of move would be an "amount to nothing" kind of pullback for the S&P. Maybe a single % down? Maybe?
|
|
|
Post by walnut on Jun 21, 2017 21:22:21 GMT -5
Yeah I suppose, but 5% up for vxx regularly turns into 20% up in a day or two. Usually a few times a year. Trying not to get caught in one of those.
VXX uptrending is a symptom of that. I am not saying a big SP crash is coming.
|
|
|
Post by huh on Jun 21, 2017 21:30:14 GMT -5
Here's 3 things I'm watching for signs of a more than normal pullback in S&P (if you can even call them "pullbacks"). Not saying these will happen, only that if they did, then bulls would have to be on guard for a bit: If XLF or IWM lost these upper support (red) lines ... or AAPL confirmed its possible H&S by losing its lower red line
|
|
|
Post by walnut on Jun 21, 2017 21:30:39 GMT -5
I'll drop the vxx scary talk haha It only matters much if you are short large positions in the scams.
But going to continue to be careful. Been trading smaller anyway
|
|
|
Post by walnut on Jun 21, 2017 21:33:53 GMT -5
When Huh capitulates is that a major contrarian signal? haha just kidding love ya man
|
|
|
Post by walnut on Jun 21, 2017 22:38:11 GMT -5
Forget all that vxx stuff I just wrote, ES looking like it has put in very solid bottom today.
Back to DEFCON 4.
|
|
|
Post by theMist on Jun 22, 2017 6:19:24 GMT -5
Walnut - this is what I was talking about Huh sees it The usual break (lower tan line) is downward and if does so should take VXX back to test all time low 12.50 Also, if you look closely VXX left a gap at 12.84-12.85 in premarket when it dropped - usually those little premarket gaps get filled. Keep in mind sometimes the premarket charts make little mistakes unfortunately I'm starting to get really frustrated again with Scottrade because I'm missing juicy moves from 6am EST - 7:20am EST 7:20am EST is when their trading desk gets in VXX yesterday in premarket was at 13.06; today was at 12.90 VXX 15 min premarket chart
|
|
|
Post by walnut on Jun 22, 2017 7:13:01 GMT -5
I know, I saw that too on the expected rising wedge type break down. It has to do that, or vxx has a problem.
And that is a really juicy move that I am hoping we get some of today.
|
|