Purple wave - 50sma
White wave 21ema
Some things I notice happened this week.
1.Daily MACD crossed over bearish
2. Daily CCI curling over
3. Daily RSI breaking uptrend
Those 3 things spell out bearish Technicals for the VIX.
Bounced off 18.00 friday with a hourly RSI at 20 and A oversold CCI on 1hour and 2hour..
I'm looking for a bounce up to 21 and 50 MA early next week and then we will see if the ADP non Farm will break vix out from under resistance or send it back back to 18.
If we break 18 this week the next strong support is at 17... if you go to your monthly chart and draw a trendline from 2017 lows until now you'll see we recently bounced on Feb 2 lows. Can't see thus market going back up 4300-4400 unless vix breaks back below 17
So I'm long until 20.30 , then let's see what happens
White wave 21ema
Some things I notice happened this week.
1.Daily MACD crossed over bearish
2. Daily CCI curling over
3. Daily RSI breaking uptrend
Those 3 things spell out bearish Technicals for the VIX.
Bounced off 18.00 friday with a hourly RSI at 20 and A oversold CCI on 1hour and 2hour..
I'm looking for a bounce up to 21 and 50 MA early next week and then we will see if the ADP non Farm will break vix out from under resistance or send it back back to 18.
If we break 18 this week the next strong support is at 17... if you go to your monthly chart and draw a trendline from 2017 lows until now you'll see we recently bounced on Feb 2 lows. Can't see thus market going back up 4300-4400 unless vix breaks back below 17
So I'm long until 20.30 , then let's see what happens
