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Post by theMist on Oct 28, 2018 20:02:17 GMT -5
Jim's video
Interesting chart at the end of the last week. We see a series of bear flags, two small ones in a row, and a large one about in the middle of this downward move as it stands right now.
We also see another descending broadening channel. We went about 8 years and NEVER saw one of these broadening descending channels. This is now the third or fourth this year...
Something is changing in the last year and I suspect that, though not confirmed yet, it is not a good thing for bulls.
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Post by theMist on Oct 28, 2018 20:18:00 GMT -5
VXX Daily Chart There is a small unfilled gap at 44.17ish (green arrow) Possible VXX is going for that gap we'll see...  |
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Post by huh on Oct 29, 2018 6:45:44 GMT -5
S&P futures up ~1%, or >25 pts, to 2695.75 and tested the key FIB resistance @ 2700.75. Now we should find out if Friday's bounce from the low was a key pivot low, or only a dead cat bounce.  |
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Post by theMist on Oct 29, 2018 8:49:56 GMT -5
VXX filled the gap to Friday's lod 38.70 and should be dropping down
to fill the gap to 37.97 IMO
Shorted at the open
Bulls should have today locked
VXX 38.40 currently
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Post by theMist on Oct 29, 2018 8:56:32 GMT -5
Nice to see you Huh!
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Post by theMist on Oct 29, 2018 9:06:53 GMT -5
S&P Daily This Head and Shoulders pattern lacks a symmetrical right side which tells me Bulls have more legs to upside and that the move down was too fast and straight It's possible that S&P forms a bottom pattern and retests all time highs once again we'll see...  |
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Post by walnut on Oct 29, 2018 9:18:51 GMT -5
Stochastics and indicators kinda looked like do or die today.
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Post by dino on Oct 29, 2018 9:24:28 GMT -5
S&P Daily This Head and Shoulders pattern lacks a symmetrical right side which tells me Bulls have more legs to upside and that the move down was too fast and straight It's possible that S&P forms a bottom pattern and retests all time highs once again we'll see... Agree, but don't forget about that bear flag. To me that pattern is well formed and a back test of it will also come with heavy resistance from other technicals. The 200 day sma, 20 day sma, Jim's iH&S neckline and the 2800 magnet all currently converge in that 2765-2800 area. If bulls get there, it will be tough sledding imo. One other speculative (and market theory) note... If bulls DO get to that area and we start seeing MM's gapping up over night to get over this area, high odds this correction is over shorts start burning imo. But gotta get there first. |
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Post by theMist on Oct 29, 2018 12:02:08 GMT -5
S&P 15 min chart It's early to call but watching to see if this is a bottoming pattern  |
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Post by theMist on Oct 29, 2018 12:11:04 GMT -5
S&P Hourly chart S&P needs to breakout to upside of large descending wedge pattern Very bullish if S&P can get above that descending resistance  |
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Post by theMist on Oct 29, 2018 13:23:04 GMT -5
Bulls giving up
Breaking News earlier: More China Tariffs to come
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Post by dino on Oct 29, 2018 13:38:39 GMT -5
Yes, all these gap ups are getting sold off.
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Post by theMist on Oct 29, 2018 13:41:36 GMT -5
Today's S&P low 2652ish has got to hold for this to still be a 'possible' bottom pattern  |
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Post by clinton on Oct 29, 2018 13:52:28 GMT -5
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Post by theMist on Oct 29, 2018 13:54:51 GMT -5
More Bearish news
UK to tax Tech Giants
It just doesn't stop today
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Post by clinton on Oct 29, 2018 14:16:16 GMT -5
I bought some XLF puts this morning.
up 76% already.
schiff is really bearish the banks
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Post by theMist on Oct 29, 2018 14:52:21 GMT -5
That's a long bottom tail on S&P Hourly maybe...just maybe some hope for Bulls  |
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Post by dino on Oct 29, 2018 15:04:55 GMT -5
This market is NUTS! Lol
-1521 tick on the way down today. Second highest last 6 months or so.
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Post by theMist on Oct 29, 2018 15:10:35 GMT -5
Backwardation in vix futures turning this market into a casino  |
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