4000SPX is magnet for Friday 9AMQuick follow up to my 1-3 month analysis found here.
My vol premium selling thesis from that analysis has footprints in the SPX options chain.
This can be seen in the JAN20 SPX expiry 4000 strike.
The amount of puts and calls could theoretically cancel each other out but over 300k options on the strike.
I expect to stay in the ranges I outlined at least until Friday.
S&P dealer gamma exposure remains positive.
Today is Vix Expiration, but I think that was front run on Friday last week.
You know the drill.
Keep Calm and 4k On
4000
Bitcoin in only 5 months could collapse to 4000 USD The most probable trend in Bitcoin will be collapsing sharply to 4000 USD until end of the year.
According Fibonacci channels of the Bitcoin historical trends and the economic situation of the world, bitcoin will dramatically fall to the 4000 USD until end of the 2022.
Ethereum TOWARS $4,000 ??Ether started to retrace earlier in the week, following a failed attempt to sustain price action above $3,600. It became difficult to hold support above $3,500, resulting in a further deep to $3,400. correction was healthy for Ethereum , whose bulls needed to take eth to $4,000.
SUMMARY ::
Trend: Bullish
Support: $3,400 & $3,250
Resistance: $3,850 and $4,000
Current ETH S/R levels 1 Hour Chart Notice, you we have an average of $40 between each support and resistance level. Great chance fo make a little swing money!
HOLD THE PHONE... ES to 4000+ by November ???In short, I am no longer short.
The recent additional QE measures and absurd position of the Fed to continue to expand it's balance sheet with no regard of the consequences tell me a few things. A. The fed and talking heads know that they have pretty much convinced THE HERD that blowing a bubble inside of a bubble is not only logical, it's our saving grace. B. That this will end badly but, not yet.
If you look back to the '29 crash that was also fueled by a careless debt-fueled cycle, you will see that prior to the main collapse, there was one last blow the top off-pump... That is what I believe began on March 23rd and will continue through the election.
Nothing that has happened this year has been a surprise to the powerful elite. The real Bull/Bear battle here is political in nature, nothing maters but staying in control. I believe we are in an impulse 5 wave and will break ATH in the ES in the next 5 weeks. We are collecting under the top end of the all-important megaphone pattern and I believe we are about to breakthrough. After reaching ATH, matching the NASDAQ's pattern, then we will get a nice retracement to the top side of the megaphone pattern. From there a weaker and potentially very powerful bearish pattern. Perhaps a H&S pattern like BOEING's chart prior to the Feb breakdown.
If Trump loses the market, he loses his base and the election. Therefore, there is nothing this "team" won't do to keep the party going for another few months. They have made that very clear and it's only 20 weeks away.
I can see it now... Donny loses the election with markets at ATH's. like 4150 in the ES. Crazy numbers... He waves goodbye and signs his name on the V shape recovery he promised. Then, with the country in Biden/China's hands, we will see the epic collapse of our bloated state.
156% valuations to GPD might look small by November.
... or maybe we get rejected here and tumble, however, last I checked the money machine is still working.
Food for thought or comment:
What would happen if Biden wins and tries to clawback corporate tax cutes? Can he do that?
What if the US's credit rating is downgraded internationally?
What happens if we are no longer the reserve currency?
The reason why we're not going to fall bellow 6000Is this pitchfork that I've drawn to the downside. As you can clearly see we went through it. The last opportunity for the crash was on 1st of October. Just take a good look at it, it would be a perfect timing. A lot of people say explosive move is coming to the downside or upside, but I disagree with all of them. I think we're just gonna continue sideways and hold the 6500 support. When we break out of the triangle I suspect a move to the upside to 7400 (previous high) and an immediate drop back to 6500. We're in the accumulation zone, it's going to take a while for BTC to start setting new higher highs.
2014 CRASH COULD HELP PREDICT HOW 2018 WILL PLAY OUT!This chart is just too perfect. The time-adjusted overlay of the 2014 crash with the current bear trend matches spot on. If it continues to play out it suggests a rally to ~12k before making new lows and eventually a nice round bottom before starting the next big bull run in 2019. Going to keep following this and will post updates. Happy trading!