VXX Long opportunityThis pair moves inverse to the US Stock market.
1. Hit a daily support level
2. 78.6 Fibonnaci retracement
3. S&P 500 is almost at it's D Extension.
This has the potential to make a nice move to the 1.18 D Extension.
DJP trade ideas
As the S&P500 finishes its 5th wave, the VIX may look to riseThe S&P500 has almost touched on its previous ATH, making a correction as the next move seem like the logical next move given economic uncertainty and a further pump under these conditions despite elements like efficient market hypothesis, may indicate an unhealthy expansion.
VXX/VIX - Looking for move above resistance today?To early to have the latest VX data for the day. However, looking at S&P and NASDAQ outlook for today I am going to say we get a good move to the upside today above the resistance line. If so, then this could setup a new support line and may indicate that VIX is looking for a larger break out later in the week.
VIX/VXX managed to stay above major resistance all dayThe VIX managed to stay above its major resistance level for the entire day to day. That is a very bearish signal that it is ready to make a move. I would assume it may be a large move to the upside given the major trend line, wedge pattern, and major resistance line from February. Too many things in one spot.
VIX/VXX - Currently above resistance - Can it hold??Note that it is above the resistance for 3 hours now. Unlike the one hour candle earlier. Is it going to hold and we could see a afternoon jump?
VXX/VIX - Is the bear starting to wake from his slumber?See chart for details. Looks like the VXX is about to make a move in the next day or so.
VXX/VIX Waves and Pennant Patterns - Breakout impending???Two pennant patterns converging in the same area for VIX. What does it mean?
VXX/VIXX looking for a breakout tomorrow?Update on my last two VXX ideas. So far everything is going to plan. As I thought, VXX is showing a "double bottom" in correlation to the double top formations showing in the S&P and NASDAQ. Looks like a wedge pattern and consolidating for a breakout. Should be one more small correction overnight or tomorrow morning before it breaks out. Using yesterday as wave 1, then a wave 3 could see a nice 15% upside. No clue what happens after that.
FYI, this market likes to through a curve ball every time I think I have it figured out. I am feeling pretty confident right now after 1.5 months of predicting a down turn and looking a fool. So, time for the market to make me look foolish again ;)
Hope this helps.
VXX/VIX made a move to the upside as predicted BUT will it stickThe VXX made a nice move to the upside today as the wave analysis predicted. It is nice to be right once and a while. It has been quite a while since I made an accurate forecast for VIX.
Now the question is will it keep moving up or will things calm back down again? I personally think the S&P and Nasdaq are headed for a moderate correction over the next few days and that should drive the VXX up more. However, I would not be surprised if we see some form of "double bottom" in the VXX before a more serious move higher. The RSI is showing a bull flag, so that is promising. However, I have been fooled by that before.
Hope this helps and good luck
VXX/VIX Waves - Looking to make a move upNote that I did the waves in reverse for the Vxx since it has an inverse relationship (3 waves up, 5 waves down). If that is true, then looks like VXX/VIX is looking to make a move in the upward direction. Could be a trash idea as I never saw someone use wave analysis like this for VXX.
$VXX daily-Falling wedge
-Multitude of bad economic indicators
-Volume falling with wedge
-RSI slight bullish divergence
-sitting on volume shelf
VIX/VXX Analysis since Feb - RSI divergence showing Bull FlagCurrent RSI divergence indicator is showing bull flag. This indicator has been right (4 of 6 = 67%) more than wrong.
VIX/VXX Almost exact pattern match to S&P 500 drop on June 11th!Update from Friday mornings analysis. If it goes just like June, then look for potential big gap up in VXX Monday, possibly Tuesday.
VIX/VXX Same pattern forming as S&P 500 drop in JunePattern looks almost identical. Something to keep an eye on.
VXX 07/31 30c1. Extremely oversold on RSI
2. 30 psychological support level
3. Bounce off lower BBand
4. SPX reversal on daily charts
5. Price target $35
LONG VXX (CFD)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
VXX - Back in Falling Wedge Failed Breakout? Building momentum to eventually break out? Not sure but back in the wedge, combined with the resistance the S&P500 just broke (island reversal from recent times negated), it’s looking like some gaps will be filled downwards. Still looking for 23-25 for a bounce.
VXX 14 CallExpires 12/18 I have a feeling our robinhood pro traders may get to experience the VIX ripping hard before then ;)
