Volatility S&P 500 Index forum
US100 We have a Double Top Weekly TF in play:With a Classic ‘no body’ Doji turnaround Daily candle on Tuesday, More than 2 4hr Breaks of Structure, a flurry of Lower Highs on the 4hr.
Today we completed a Daily Break of Structure which has ALREADY BEEN retested during todays session.
So our friend has turned around IMO…..
What’s next?
Well….I mentioned earlier in another post that now we have a Daily Break of Structure and because of that I am only interested in Daily+ FVGs. From a swing trading perspective, I consider everything else noise in this circumstance.
I also mentioned earlier in another post that the NAS was very efficient in closing gaps whilst we were stuck in the range….
I actually do most of my charting on
QQQ as it excludes the Out of Hours Candles.On QQQ there is a small Weekly FVG between 507 - 510, which is around the 21000 on the NAS.
Due to the two months of consolidation, I believe that the bearish moves will be powerful and fast.
With this in mind….I have been unable draw a logical path to get me to 21000 quickly, considering the tight price action over the last week.
This is highly speculative and not necessarily technical but……
Another oblivion candle or a gap down may be on the cards to fill that weekly gap quickly. Or similar price action to the 18th December.
Quickly is the important word here because that is what will cause the volatility spike and make up for the week on inaction on the NAS and to get NAS pegged to a steep but realistic trendline I have drawn.
On the volatility note, Someone on Minds mentioned that the VIX is about to break out (Please nudge me with your mind link so I can tag you)….and it is!
VIXThere is a Daily Green Doji at the bottom of the VIX to contrast with Tuesdays and Wednesdays Doji candles at ATH on the NAS.
Also DominaJ has written some interesting posts about the Feb 21 OPEX and this certainly could be a catalyst for such volatility.
VIX Got a feeling vix going to 17-18 tmmrw
VIX INVERSE Head and Shoulders on 15/30 min VIX. If it succeeds to finish the right shoulder which looks possible the measure from the top of head to neck line would take us to the $16.83 resistance line.
VIX 📉 Volatility Alert! 📈
⚠️ Key Support: 14.90 📊
If the price breaks below 14.90, expect a strong sell-off 🚨📉
📍 But if it holds...
A bounce from this level could lead to a bullish move 🎯🚀 with a target of 16.50 resistance!
Stay sharp & trade wisely! 🔥📊
VIX you in a support zone for this just be careful