SPX is getting extremely interesting, now that VIX has spiked for more than 5 points on the current market decline. I'm monitoring the decline to catch the exact bottom in the market, which I think can end up matching the bottom in oil, and the energy sector, and a great chance to add to my EEM longs too, and acquire more latin american stocks. I updated my time at mode analysis for SPX in the yearly timeframe, and there's a target at 2987usd, so, we might end up seeing that after the correction bottoms.
Best of luck,
Ivan Labrie.
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SPY has bottomed for now. We had a 75% retrace of the recent VIX spike Promising for our longs.
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Support holds...
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We approach the end of the time required to rally again. Keep an eye out for VIX today, the bottom might take place today.
Trade ist aktiv
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The correction looks to have ended, but the signals here call for a breakout after the 24th. I'm long SPY from 236.19.
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Looking at SPX...we hit one of the long term targets, but we still have time to potentially continue the rally
@timwest, thanks Tim, let's see if we can catch the bottom.
wien
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Hi Ivan, from the daily chart, do you think there would be a small bounce first very soon before the correction carries on? Also, where do you see the bottom of this downtrend would be?
IvanLabrie
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@wien, I labeled all support levels on chart, we had a little bounce today, but there's risk going into the news and the end of the quarter.