Just a short FYI update. VIX, touched the top end of the 20 to 22 pullback target zone. This was accompanied by a bounce in the S&P 500 to 1988 and subsequent fade (+.23% at 1973.88 at time of writing).
We were roughly looking for SPX 2040 and VIX 20-22 as a potential bearish setup. VIX hit 21.51 earlier today.
20 pages, a little Tin Foil, a lot of historical facts and some logical deductions. NFTRH 359 out now.
A simple progress report on SPY's bounce. The initial rally today put SPY back above the resistance line roughly equivalent to SPX 1975, which was Resistance #1 to the bounce…
So far the correction is generally going to plan. SPX dropped out of the nose of the Diamond pattern, lost both the 50 and 200 day moving averages and dropped to support. That was all according to plans.
Stock Market Here is the current SPY chart from this morning's pre-market update, on which I had drawn a candle based on the pre-market's projection. SPY opened around that level…
China is again in the news as its Caixin manufacturing index hits its lowest reading in 6 years. Dutifully, world markets decline by around 2% on average. Clicking the graphic…
The bounce has made it to target #1. Higher potential remains at 2050, but this is a valid bounce target as well. If SPX is going toward 2050 however, that…
VIX is approaching the target of 22 per NFTRH 357. As noted in that report I have been chomping at the bit to show you this chart by an update,…
What a week; and I am not talking just about the markets! I spent all day on jury duty yesterday and by the time they finally unshackled me I saw just how volatile things had been. I also saw that my ‘bounce’ gains had evaporated into the close.
A quick roundup as one of the commitments I have this week is to go to court this morning and sit in a pool of people hoping not to get picked as a juror.
Using the SPX chart below as a guide, we see that US markets have now challenged the October lows (some held above and others poked below) and the test is on. It looks like a logical bounce is trying to get going in pre-market. Click graphic for live quotes…
YTD most markets are down. I am even. Okay, who cares? Being a cranky risk manager, I've underwhelmed for a long while now. But it gives me the feeling that…
Friday we did them over at Biiwii and today we'll catch up with gold's ratios to other items here (where charty type posts are the norm) on day 2 of…
A friendly reminder to the bears. Though what is going on in the markets seems awful and indeed could be signaling macro changes to come, the US stock market is…