A Possible Scenario for the S&P500, VIX and VXX
Today/Monday, SPX could bounce from support @2393-2400 and late next week re-test the upper boundary of the short term downtrend. What happens if and then at 2420-30 is key for the next few weeks. But first, let's see how it behaves near
S&P500 vs VIX
Frequent readers know, that I'm expecting a 5%-10% drop in the S&P500 before we take off to Higher Highs and the flight to private assets intensifies. As mentioned in the update of June 2, "S&P500 vs VIX - Bearish vs Bullish Divergence", the key levels to keep an
Today, the S&P500 closed at 2350, +0.6%, a new daily All Time High and VIX went up by 11%....Indeed, also up, showing divergence with the S&P500.
Now, if we combine this with the next Cycle Time Window of FEB 17-23, Bearish Divergence RSI S&P500, Bullish Divergence RSI VIX, Wedge Up Resistance
I'm currently travelling across Europe and had some time left at breakfast to take a look at the charts. I updated two charts: the S&P500 vs VIX and Bitcoin and uploaded these charts here at the News Feed of eToro. Feel free to take a look at it. I like
Click here for the latest update of the S&P500 Strategy (4h, Daily and Weekly chart) and here for the latest changes in Portfolio.
Enjoy the day!
Pattern of Price: Lower Lows and Lower Highs. Price is clearly trending down, red trend lines, Triangle.
Short Term - 1h chart updated - Wave iii down of 5 down seems in progress, not finished yet. Lower Lows to come. Scenario invalid if 2022 breaks to the upside.
Medium Term - Daily Chart - Wave 5
Click here to see the PutCall Ratio and here to see the SPX:VIX Ratio.
Click here for the latest update of the 1h chart SPX including my strategy and positions.
Click here for the latest update of the 1h, 4h and Daily chart of the SPX, including short and long term Elliot Wave Analysis, Pattern of Trend, Risk Metrics, Cyclical Analysis, The Daily Higher Lower Strategy, Fibonacci Key Levels and of course, my own strategy for this week.
Click here for the full update of the 1h, 4h and Daily Chart.
Click here for the latest update of the short term S&P500 Strategy.
Click here for the updated SPX 4h Chart and SPX Daily Chart, including:
- Short Term Elliot Wave Analysis
- Long Term Elliot Wave Analysis
- Cyclical Analysis
- Current Positions and Strategy
- Analysis of Pattern of Trend and RSI
- Risk Metrics (SPX:VIX, PutCall and Open Interest).
Enjoy the evening and happy trading!
Click here for the latest update of the SPX 4h Chart, the Daily Chart and our medium term indicator, the SPX:VIX.