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U need to put some labels on your chart please. Okay so it's downtrend, but very hard to read your chart.
I see it, but in July, the S&P made a lower high while the VIX made a higher low (consistent). So far last few days, S&P has made a higher high but VIX has refused to make lower low (inconsistent). So a bear suit may already be in fashion with this divergence as the tell. But given Friday's and yesterday's strength, I think the setup would be tighter with a failed test of yesterday's top or a double top of some kind.StrikePrice wrote:Check out the VIX (I like using a line chart) and compare the recent 10/14 & 10/24 swing with 7/8 & 7/22 swing with an RSI Indicator. Maybe that will make your Bear suit a little more cozy.Mr. BachNut wrote:The vix divergence bothers me. I have been looking for a lower low or at least a more convincing double bottom to go with a top. This rally still has some unfinished business IMO, but the market can do what it wants.
The dotted lines are the keytdo722 wrote:U need to put some labels on your chart please. Okay so it's downtrend, but very hard to read your chart.
agreedMr. BachNut wrote:I see it, but in July, the S&P made a lower high while the VIX made a higher low (consistent). So far last few days, S&P has made a higher high but VIX has refused to make lower low (inconsistent). So a bear suit may already be in fashion with this divergence as the tell. But given Friday's and yesterday's strength, I think the setup would be tighter with a failed test of yesterday's top or a double top of some kind.StrikePrice wrote:Check out the VIX (I like using a line chart) and compare the recent 10/14 & 10/24 swing with 7/8 & 7/22 swing with an RSI Indicator. Maybe that will make your Bear suit a little more cozy.Mr. BachNut wrote:The vix divergence bothers me. I have been looking for a lower low or at least a more convincing double bottom to go with a top. This rally still has some unfinished business IMO, but the market can do what it wants.
I think my point is not Bull or Bear. It is just that there is something about the S&P and VIX charts that doesn't look complete yet to ring the bell on this move.
es took 1238 in strong case. my plan may play out. the key here is to take 1242 asapsoku wrote:damn, the whipsaw is killing.
es is forming a potential hs. neck is around 1230-1232. this area has to hold or it will crash immediately. 1236-1238 is roughly 50% of today's range. it serves as the mid point for now.
my evil plan: go up to 1245 to trap the bulls then dip to 1235 for the next determination.
Thanks Al, gold just sliced through 1700! Looks like no resistance for a bit now? Just went long DGP @ 57. Good luck to you as well.Al_Dente wrote:PAGING WAVY
Thanks for “junk”…oooooooo…. must study later…
Keep eye on NYDEC 2360…but must see SH reach new bear hi… bye 4 today…good luck 2 u and all
StrikePrice wrote:Alternate Count to the one posted earlier, more Bearish, putting us currently in Wave 3 of A that appears to be a Zig Zag. We may complete the whole 5 Wave down and start the 3 Wave B later today at the rate this has been moving.
thankswaverider wrote:Thanks Al, gold just sliced through 1700! Looks like no resistance for a bit now? Just went long DGP @ 57. Good luck to you as well.Al_Dente wrote:PAGING WAVY
Thanks for “junk”…oooooooo…. must study later…
Keep eye on NYDEC 2360…but must see SH reach new bear hi… bye 4 today…good luck 2 u and all
Al_Dente wrote:PAGING L_T
The FCX point is …. WE’RE STILL WORKING ON THE DANG POINT…. what platform r u on?
After the correlation party I thought, maybe not so accurate, as EVERYTHING correlates these days, so, abandoned corr, and went to PERFORMANCE overlay charts on daily, then stretched out to weekly, then back to intraday 15 min, to see whom/what we could trust…. did u do any of those?….what did u see?
Can u bring something to the party? Otherwise I gotta wait for my FCX party-girlfriend Michelle
Am sure you are fine and handsome man…. but still…. u just a dude…just jokinggotta run 4 today
Just got back to my desk and had same thought "crap triangle" !!! Thinking we have one more high above 1260...StrikePrice wrote:So much for a Zig-Zag. Looks like a Triangle. That sux, could go either way.