It happened, and now the 50 MA has also crossed above the 325 MA as well as the 200! I took profits on the rip up Black Monday, and rebought long this morning. TVC:VIX AMEX:UVIX AMEX:UVXY commons & calls. Still looking for much much higher!
Downward megaphone, markets built a bear flag since Black Monday's drop. Perhaps we will see $500 AMEX:SPY next, finally!
TVC:VIX Golden Cross that I've been watching and waiting so long for, has finally happened! Volatility short squeeze, fear and panic in the markets! How high can we go? I'll only be looking for pullbacks to add to my TVC:VIX long positions. AMEX:UVXY AMEX:UVIX commons and calls swings, AMEX:SVIX puts swing. Woohoo!
CRYPTOCAP:BTC is closing in on my PT FWB:42K area rapidly! Could result in a massive cup and handle pattern, if it doesn't fall through that support.
I'm swinging AMEX:BITO puts. Even though the stock market squeezed shorts on a flat FOMC today, CRYPTOCAP:BTC seems to have responded more accurately. I'm looking forward to seeing if AMEX:SPY NASDAQ:QQQ follow suit & sell off heavily tomorrow as well.
The right shoulder price target for the Head & Shoulders pattern on the daily & weekly time frames is in today. Now we need confirmation for the next drop, bearish continuation!
Big sell off in the markets today, and especially right after close! Pushed below major support and trend lines. Market looks super bearish to me now, I don't see another bounce possible for bullish continuation, from here.
Very important week for technicals. Tech/ AI has to either bounce here to determine bullish continuation; or crack under for bearish continuation. I personally prefer to day trade & swing trade the leveraged NASDAQ:TQQQ instead of NASDAQ:QQQ ; it has a cleaner pattern, and often better option contracts, imo.
CRYPTOCAP:BTC is closing in on a potential death cross on the daily and weekly time frames. Still in a daily channel / bear flag for now. Rejected from $70k, heavy resistance area. I'm day & swing trading AMEX:BITO ETF options both sides, instead of holding $BTC.
TVC:VIX is coiled tight into the wedge, and holding support. The 21 MA is very close to crossing the 200 MA, and I'm watching for the 50 MA to follow. Golden Cross potential on the daily, and weekly chart! 🤞
TVC:VIX is bouncing at the moment, on the 15 minute chart, which is my favorite time frame to trade anything on. I'm really liking the volatility lately. Flirting with the top monthly trend line, but holding support into this curl up. Tuesday's FOMC could be the catalyst. See daily and monthly charts posted prior.
On the daily chart, TVC:VIX is in great shape, even though it's down ~11% today. SP:SPX AMEX:SPY NASDAQ:QQQ etc. are building into that right shoulder of what appears to be a head and shoulders. So I expected TVC:VIX to be crushed into it. Obviously if the H&S patterns play out, TVC:VIX should spike.
Volatility short squeeze potential for TVC:VIX and VIX related products such as AMEX:UVXY AMEX:UVIX etc. 😎