Looks like we are not done.
1- The chart on the top is my SP500 chart, with a short term pitchfork I had plotted on top of the macro ones, that added confluence to my previous SP500 idea.
2- The drop managed to cross the golden pocket of the fib from the last "fakeout" out of the rising wedge.
Now can expect it to go either test the 0.786 level and breaking that level of ~4300 (more likely), or see a gap up tomorrow from above the golden pocket.
A few reasons for that assumption are:
3- SP500 did not see a >5% correction for too long now.
4- VIX is currently at 27.54 which is a very turbulent level that will require more than a couple of days to subside.
Personally 18-20 is my "heads up with your longs" level. Anything over 21, immediately changes the long short ratio of my stocks portfolio and crypto positions.
5- Analyzing the VIX can help understanding the SP500 volatility cycles.
The chart on the bottom demonstrates the comparison between two possible volatility cycles and might help us predict what's coming next.
The gap up, for me, is a strong indicator that this week will be hectic and just possibly, as mentioned before in the previous idea, a very Red Rektober.
The premarket for the SP500, as another technical angle, with all of the above just helped me ladder in more shorts.
Especially on BTC and ETH with most of my targets met as depicted in a few of the recent ideas I posted.
360 degree is a must.
20% of the data you need is not in the chart you are looking at.
Trade safely friends!
1- The chart on the top is my SP500 chart, with a short term pitchfork I had plotted on top of the macro ones, that added confluence to my previous SP500 idea.
2- The drop managed to cross the golden pocket of the fib from the last "fakeout" out of the rising wedge.
Now can expect it to go either test the 0.786 level and breaking that level of ~4300 (more likely), or see a gap up tomorrow from above the golden pocket.
A few reasons for that assumption are:
3- SP500 did not see a >5% correction for too long now.
4- VIX is currently at 27.54 which is a very turbulent level that will require more than a couple of days to subside.
Personally 18-20 is my "heads up with your longs" level. Anything over 21, immediately changes the long short ratio of my stocks portfolio and crypto positions.
5- Analyzing the VIX can help understanding the SP500 volatility cycles.
The chart on the bottom demonstrates the comparison between two possible volatility cycles and might help us predict what's coming next.
The gap up, for me, is a strong indicator that this week will be hectic and just possibly, as mentioned before in the previous idea, a very Red Rektober.
The premarket for the SP500, as another technical angle, with all of the above just helped me ladder in more shorts.
Especially on BTC and ETH with most of my targets met as depicted in a few of the recent ideas I posted.
360 degree is a must.
20% of the data you need is not in the chart you are looking at.
Trade safely friends!
