sp'60min'1b - holding under the 10EMA
Summary
So... what about today? There is no scheduled news of note, and even though there is QE, it is not enough for even yours truly to get concerned about.
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What is my plan for today?
I am looking to pick up an index short, for a day trade only...seeking a move from 1845/35, to 1815/10.
I will look to exit ALL short positions into the Friday close (that is just something I prefer to do, especially since I am an options trader).
I would still seek to pick up another index short/ VIX-long, next Monday..and trade on the short side until sp'1770s.
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Video update from Mr Carboni
Oscar is now a seller of rallies, and it'd seem (although he did NOT say it) would probably be seeking a hit of the 200 day MA, which is Dow 15700s, with sp'1770s.
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Yesterday was pretty entertaining. It was especially pleasing to see the bull maniacs get a smack down, not least after the stupid fed minutes bounce.
I will be frankly delighted with ANY weekly close <1838, which would give a closing RED candle on the 'rainbow' weekly charts...
sp'weekly7
A hit of the lower weekly bollinger is what I want to see. It would give clarity to the bigger picture, and offer up a large H/S - much like 2011. If that is the case, it is going to be an incredible summer, one that will make up for the last few years.
It will also be interesting to see how the cheer leaders on clown finance TV cope with the sp' back in the 1700s.
Sincerely..good wishes to all of you out there. The weekend is almost here!
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8.42am.. I should note, I did see sp-11pts earlier, which would give 1822...just 10pts shy of a level many are now seeking.
Certainly..we could be 1815/10 today....whether sub'1800 today...or...next Mon/Tuesday..doesn't concern me.
Right now, I'd look for VIX to open somewhere in the 16.50/17.00 zone.
9.10am.. sp -8pts... 1825.... I just wonder how the VIX will open.
I'd like to drop at least one of my two blocks..could probably buy back later in a few hours...along with an equity short block.
Regardless....we ain't opening higher. ;0
9.28am... set for the low 1820s.
9.32am. EXITED VIX block'2......might exit block'1...
9.35am... looking to get kicked on second VIX long (will likely buy back later today)
9.37am... tightened VIX stop...likely to be OUT within minutes
EXITED VIX block'1......
I'm am FULLY out... seeking to pick up index short AND vix -long...in 2-4 hours
9.40am... BLACK-fail candle on the VIX.....equity bears...beware.
9.45am.. VIX turning lower....market set to rebound...1835/40 or so... within 2-4 hrs.... that will make for a superb re-short level.