rsitrades

10:14

rsitrades

The trendline structure from the top was reached FRiday and I believe we may rally back to it at open but fail. There are a LOT of traders calling for a test of the 200 ma again, but I'm not sure it will actually occur. Vix also did not fill it's gap on Friday which could be interpreted as bullish for the VIX

12:02

rsitrades Updated 

We are floating up on little volume. I believe qqq is a better chart for fibs and structure - so I show what I see there. VIX likely fills it's gap at 21.80 by the end of today. The close will probably stay bullish, but I think next week will be the start of a move down.

05:07

rsitrades

Watch for a bear trap into the close today as a C wave. Vix could reverse before filling it's gap. Chances are we reach the Bollinger Band at 5710 but they could have another down move on the SPX before that occurs.

07:49

rsitrades

Both the market and VIX are showing bullish and bearish signals. I try to explain what the possibilities are if we - rally higher, or sell down below 5550. Good luck

07:12

rsitrades

The move up looks finished. If it's correct that a C wave is next we will have minimal bouncing down to around 540 on SPY. Vix is now showing 4 hour bullish divergence, so an attempt at 28 resistance is expected (as of now)

09:34

rsitrades

A pullback is expected but a rally into the open first looks probable. If the pullback looks strong, it could be a C wave down with another move to 5700+ after.

10:39

rsitrades Updated 

A difficult and choppy day again. We did rally from the low to 5525 as I thought, but it's possible this was a squeeze to take shorts out before the bigger move down into the rest of the week. it's difficult to say with big earnings about to hit. The daily candle is forming a hanging man, and it could be a clue. We'll see how it looks tomorrow.

06:36

rsitrades Updated 

We came down to the top of the previous range and with the RSI as low as it got, the chances for reversal was high. I took profits and reversed long. I am now expecting 5600 and the 50 ma to finally get reached.

04:51

rsitrades Updated 

The market looks bearish this morning, but pattern wise nothing has changed just yet. If we are truly bearish, 5550 will not be surpassed and the overall pattern will have changed.

05:23

rsitrades

Both spy and vix reached a possible ending target today. We'll see what it looks like tomorrow but right now my feeling is either we topped or there will be one more final squeeze to 5600 tomorrow.

09:48

rsitrades

We're getting close to a top, but I still think 5600 will likely be attempted today or tomorrow. I will change my mind if they start getting under 5450. Vix broke out of a wedge, which is bullish for the vix but I don't think it runs up right away. I will change my mind if they get the vix over 28 again.

07:48

rsitrades

Nothing as of now is telling me the market is bearish, but a few developments on the VIX and SP500 is telling me we are probably close to a turn

03:06

rsitrades

Bias is still up and likely the wedge fills out today. A strong move up after open may be sold into.

13:28

rsitrades

A longer video of what may be possible. Remember, the bias is up and so any bearish ideas are only that for now. There does appear to be a larger wedge/triangle forming, I talk about it towards the end of the video. Have a great weekend.

06:50

rsitrades

Overview of the market and it's possible direction. We are over the 18ma so the bias is up, but we haven't broken the range yet.

05:42

rsitrades

Looks bullish, but no breakout yet. VIX also at double bottom support here.

10:04

rsitrades

Market is still biased to the upside, but the fact that the rejected again at around 5500 is bearish for the time being. A gap fill tomorrow seems likely, we'll see how the overnight goes.

06:30

rsitrades

The Bias is up but I also discuss the alternative bearish count. Vix is at support here, but it's bias is currently down.