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Post by theMist on Jul 19, 2017 8:50:18 GMT -5
S&P Hourly Futures This gap up and breakout didn't backtest as well In my book SP2467.19 is close enough and reason enough to celebrate a year long target of SP2468ish This has now become irrational exuberance IMO And the drop alone to SP 2418ish is going to catch a lot off guard
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Post by theMist on Jul 19, 2017 9:01:41 GMT -5
And there is it is SP2468!!!!
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Post by walnut on Jul 19, 2017 9:04:05 GMT -5
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Post by theMist on Jul 19, 2017 9:06:00 GMT -5
lol Walnut
VXX now has an unfilled breakaway gap with this morning's gap down VXX 11.47-11.54
If (BIG "IF") markets dump this afternoon, it will be a reversal day
Also, S&P has a small breakaway gap with this gap up this morning SP2463.54-2463.85
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Post by theMist on Jul 19, 2017 9:12:47 GMT -5
Time to FLY NOW MY BABIES!! FLY!!
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Post by walnut on Jul 19, 2017 9:14:59 GMT -5
Really tempting to buy some here
edit- And then it drops 4 cents to remind me that you don't buy vxx without some confirmation
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Post by theMist on Jul 19, 2017 9:21:46 GMT -5
Really tempting to buy some here edit- And then it drops 4 cents to remind me that you don't buy vxx without some confirmation The problem is the confirmation might come when VXX opens up at 13 one day Also, I can't imagine VXX doesn't close morning gap today
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Post by theMist on Jul 19, 2017 9:24:35 GMT -5
It's time for VXX to RISE!
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Post by walnut on Jul 19, 2017 9:28:51 GMT -5
Really tempting to buy some here edit- And then it drops 4 cents to remind me that you don't buy vxx without some confirmation The problem is the confirmation might come when VXX opens up at 13 one day Also, I can't imagine VXX doesn't close morning gap today I know. It is not easy to come out ahead. FWIW, in my experience, major corrections develop during regular trading hours. That does not mean that it is easy to simply buy and make money. Lots of head fakes. I agree, thinking VXX rises today
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Post by theMist on Jul 19, 2017 9:47:38 GMT -5
Does anyone here trade SPXU? Is it subject to a ton of decay?
Thinking about buying some for IRA
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Post by ipath on Jul 19, 2017 9:50:37 GMT -5
Does anyone here trade SPXU? Is it subject to a ton of decay? Thinking about buying some for IRA I have looked into SDS yesterday, but was wondering about the same thing
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Post by theMist on Jul 19, 2017 9:51:35 GMT -5
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Post by ipath on Jul 19, 2017 9:54:45 GMT -5
I see first signs of countertrending
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Post by theMist on Jul 19, 2017 10:00:09 GMT -5
I see first signs of countertrending S&P and VXX both left a gap this morning. If S&P sells hard this afternoon and closes red it will be a reversal day. If those gaps are left to be filled on another day, it will only add more to the coiled spring for when they do hit the SELL Button. Remember: S&P has to backtest that descending support (currently SP2418ish) at some point and has now hit its bullish targets. This has been the pattern lately. And out of nowhere the S&P will dump hard to hit that SP2418ish target (which is descending with time). Last time it took 17 trading days. We are 6 trading days into this current gap up and run up from 7/12. spot vix is currently in the 9.60 range
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Post by walnut on Jul 19, 2017 10:03:57 GMT -5
VIX just still dropping (9.63) There is no fear at all yet. Maybe today, maybe not
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Post by theMist on Jul 19, 2017 10:12:42 GMT -5
VXX Daily Chart VXX put in a complete candle outside its lower BB then It closed outside its lower BB again yesterday Today VXX is outside its lower BB again When this happens, it usually means a move (at minimum) back to its UPPER BB (green arrow) currently in 13.50 range
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Post by theMist on Jul 19, 2017 10:16:04 GMT -5
When playing the Bear side, don't make trades that are super time sensitive which if the pullback doesn't happen in next 2-3 days, you get burned. Or if you do decide to place a time sensitive trade, do it with spec money IMO
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Post by walnut on Jul 19, 2017 10:20:47 GMT -5
When playing the Bear side, don't make trades that are super time sensitive which if the pullback doesn't happen in next 2-3 days, you get burned. Or if you do decide to place a time sensitive trade, do it with spec money IMO That's why you almost never do it.
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Post by theMist on Jul 19, 2017 10:35:58 GMT -5
S&P and Nasdaq screaming higher still and VXX stauled at 11.37
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Post by walnut on Jul 19, 2017 10:47:28 GMT -5
VXX 15 min macd crossing bullish. Doesn't mean that VXX will rise though.
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