Short

$Spy

I think we head to 510 next week and most likely lower...

Here's vix
2hour chart (Log)
Pennant here showing. My price target next week is 45. Fire works over 35

daily RSI
Rolling over here at resistance

Spy daily chart
Pennant resistance trendline at 21ema is at the same spot 540 ish.. if price can close over that before a break below 520 then this correction has taking a break and we will likely head to 547 and over that 565

Ixic (Nasdaq)

Same analysis as Spy

I'll update this more over the weekend but I just wanted to get this out there before the close.... Any longs are risky below the 21/20 moving averages

Note

financial sector
We just finished earnings for all big banks and they are either flat or have given up the gains..
Daily chart, price closed right below the 200sma and H&S neckline

XLF RSI at resistance

This is the 3rd largest sector here on on Spy

Note

XLC
Price has unfinished business down to 82.00 .. with reporting tonight and reporting Next week I think we are on our way back down

200sma and H&S neckline around 94 area, bearish underneath

Note

Charts aside, I think this index is headed for a rough month once that economic data starts to roll in early may.. price is headed back to 160 support by end of May

This scenario only changes of IWM closes back over 200.00

Short term resistance is 190.. will most likely only break above 190 if Spy can get over 540.. over 190 and 200 comes..
Below 182 and the big short begins

Note

Good morning!..
Two words.. "CONTROLLED SELLING"

price may try to push back up to 439.. I like puts there with a stop over 441.00
Next target is 422

Note

shouldn't get back over 520.. next stop 505

still consolidating below 35.. I'm looking for a breakout to 40+ by end of week

Note

Good morning... so much info on the charts but I'll just cover spy

Note

Price is back at pennant resistance at 540..0ver 541.00 and 546 is next up..

Below 538.00 and it's a pullback to 535.00 support. As long as 535.00 holds its a dip to buy.

ContraryTrader

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ContraryTrader

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