These two fibonacci retracements are signaling well so far.
SDS or SSO strangles could pay-out in this situation.
This could break either way, I'm betting down.
Is SPY forming an irregular, albeit Bullish, Three Drives harmonic, or a Bearish Head and Shoulders? ... Or is it simply showing decadent weakness, limping back from Fibonacci resistance?
USO backing off those highs. This rally could last two weeks; and I would still stay short. Something's just not right. The '08/'09 WTI lows are technically irresistible. And USO has depreciated from rollover since its inception.
I'm waiting to see if SPY can break through that 61.8% ~$205 to the upside. The daily charts are unconvincing to the upside though. But after today, who knows?
A new technique to analyze bullish/bearish ETF sentiment based on divergence of leveraged-ETF comparisons?
Posting for other technical chartists' input. Which ETF has more potential compared to the others? As an options trader, I only play SSO. However, SDS has quite a lot of rebound potential during a collapse. The real efficacy of this chart is lost w/o comparative volumes (b/c) positive-multiplied-leveraged ETF's over-excel during up markets of the underlying,...
Gold-miners about to break thru resistance. I am buying NUGT calls with a hedge (either long DUST calls or one NUGT put). Go crazy gold bugs!
The market is clearly exhausted. Another bounce higher to 2250 before the fall?
WTI Crude, and USO by extension, continue to hit and bounce and break through three key sets of Fibonacci projections/extensions. Overall sentiment is bearish. I Included the Fisher Transform, Vortex Indicator, and the Ultimate Oscillator as other relevant predictors of price action. I believe WTI and Brent are headed much lower, even to a 'one-day-only' $15...
WTI Crude, and USO by extension, continue to hit and bounce and break through three key sets of Fibonacci projections/extensions. Overall sentiment is bearish. I Included the Fisher Transform, Vortex Indicator, and the Ultimate Oscillator as other relevant predictors of price action. I believe WTI and Brent are headed much lower, even to a 'one-day-only' $15...