There are some signs of a sharp price movement coming, either long or short.
Bearish View
• VXX 4hrs RSI could make a double bottom;
• SPY 4hrs RSI could face resistance;
• VXX chart could make a double bottom;
• SPY chart is at resistance.
If these patterns don’t materialize, then it should be very bullish for another few days. We should have a confirmation at the end of the next 4hrs candle.
Cheers,
Bearish View
• VXX 4hrs RSI could make a double bottom;
• SPY 4hrs RSI could face resistance;
• VXX chart could make a double bottom;
• SPY chart is at resistance.
If these patterns don’t materialize, then it should be very bullish for another few days. We should have a confirmation at the end of the next 4hrs candle.
Cheers,
Note
It is about to move again, potentially in about 30-45 minutes. It could be either way; reversing long is very possible, however i am leaning to the bearish side with the info i have atm. I won't be able to trade or update, i will be gone all afternoon from now. Cheers,Note
Unless a last minute strong rally, we should have a daily red candle tomorrowNote
There is a big fight, not the time to get in, better wait tomorrowNote
The fight was won by the bear at the last minute imo. Some selling tomorrow, gap down Friday. That's what I see for now.Note
Looks like we are going down in the AM. I may add on my shorts if there is a good opportunity. Lets see.Note
I sold my short, it is not a good spot. Could turn out to be bullish, i'm waiting mid day to re-assess.Note
Too bullish in the AM, now that the market reset from the open, my idea of selloff in the morning still stands. I am short for another 1.5-2 hours at least.Note
In a triangle right now, it's going to move soonNote
Unless of a last minute strong rally before the close, most likely to have a gap down at the open tomorrow followed by steady selling.Trade closed manually
Totally wrong the gap down open. However, I was able to make some decent cash on the daily calls. The situation has changed a bit, i will update later with a new chart. Take care.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.