GOOD POSSIBLE BUYI have my fib drawn different today and also I have been analyzing a bit more before I post here. $44.61 is a very strong support and a possible good entry wait for the confirmation, $44.22 is also a good buy with heavy support at that level as well. NYC open my show the direction of the Market after gap is closed. This also may be a good short term short.
WEST
QUICK REVERSALI was wondering why oil had bounced at the level it did and I could not figure out why. 1hr fib shows a perfect bounce at the $45.28 level like it did a few days before that. It has to hold 45.53 on the 15 minute in order to go higher. Stochastics looks like they may be lined up for a good push to the upside do not expect more than .50 cents but it may continue
Past VIX Spikes Analyzed from May 2011 to May 2013I have published this before, but this shows more examples of how you analyze the market for "Smart Money Buyers" that you can rely on. First you have to wait for a spike up in VIX of at least 5 points, then you wait for a pullback of 75% of that VIX spike. Plot the movement from the price low to the level the market was when the 75% retracement level was touched.
Who buys when VIX is HIGH? Smart money. People with a lot of money to manage who need to buy when there are a lot of sellers. Major, long term buyers buy when VIX is high because that's when prices are low. That's how the market works. Why? I can explain, but first please thank TradingView for this amazing software which has allowed me to find this great piece of market information from analyzing the data that you can get here so easily and graph and manipulate to your heart's content.
What I have also found in this data is that at the end of 2012 VIX was rising while stock prices were grinding higher, which implies SMART, LONG TERM buyers had a TON of stock to buy and wanted to buy it aggressively. I marked that extremely bullish setup with a purple box.
The other boxes are marked in bright green so you can see the movement from the lowest low of the correction to the point where VIX had settled back 75% from its run-up.
The way to utilize this information depends on your investing time frame. If you are a trader, I can see that there are some low risk entry points on pullbacks to the 75% price level, which is the top of the green box. Long term investors can rest assured that they are riding the trend when prices are above the bottom of the green box.
More "history" of the 75% VIX retracement SUPPORT LEVEL to come in subsequent charts.
Cheers.
Tim
9:33PM Thursday 7/23/2015
CRUDE WEST TEXAS SHORT @ 63.00The trend is up. Crude is rising. Possibly to the heights of $75/$80 per barrel.
However, the Day supply zone allows a counter-trend position from ~$63 with a risk of 100 points. The reward on this, to the opposing Week demand zone is 700 points (7:1). This will possibly be where a reversal to the upside begins.
EP: ~63.30
SL: ~64.30
TP: ~56.30
R/R: 7:1
WTI CRUDE OIL: incoming uptrendHi Traders,
WTI OIL is very close to the support in the area 75.62-74.94. The sputtering downtrend is "kicking the bucket" and the start of a new uptrend is only hours away.
TARGETS
First down to the area 75.62-74.94
then up to the area 87.53-87.62 (for a start)
ELLIOTT WAVES
The weekly chart shows that the A-B-C will be completed by reaching the area 75.62-74.94 where a new uptrend should kick in. The 4-hour and 1-hour charts are clearly sounding the bell as OIL is staging the very last sub-minuette wave down to the target.
DAX German Stock Index -Daily -"If the log rolls over". SELLDAX potential "smack down" from a 5-day time at mode signal ending on Thursday's close and note that the new 5-breakout-failure where a 5-day consolidation failed to lead to a new buy signal could be a sign of exhaustion up here ... A little drop and a sell signal is triggered (and CCI has crossed under +100 for a 4th time in this rally = typical of a bull market move. A main cause for concern is the "internal strength" of the rally as measured by my proprietary "range movement" indicator is saying this is a "weak rally" with a sub-par 50% retracement... So, I am looking to SELL under The previous 3-day lows and target 9080 minimum. 9291 last...
If we get a range completely above the purple "6" rectangle area, then a new buy signal will register. Cover any shorts and go long.