Amigos, do/examine this/these. ...... Vix refuses to go lower than 8.56 Vix alltime historical LOW occured at 8.56 on when? Yep, as far back as November 24, 2017. That's 2017 amigos. Then came 2 higher lows. 4 contact point trendline from Nov 2017 you guessed it, sloping upward. Doji on 4/17/19 Down trendline from 12/21/18 now being attacked ferociously. RSI same ditto trendline = breakout!!!!!!!!! Macd ditto TL = breakout!!!!! Not to mention the same pencil/ruler Vix breakout signal on 1/16/18 when the 200-day got simultaneously hammered breakout. Surely you remember Jan 26, 2018? The BIG TOP in US/world. Vix Trendline called it 10 days earlier than all markets. Sentiment nails it every damn time. Creme de la creme from Vixie is the projectile fired from extrapolating 2/6/18 top + 8/9/18 low + 12/24/18 top to give a precise Egypt Pyramid calculation 61.8% on April 17th, 2019, just 7 trading days ago. Of course niemand was or is awake to notice these things. ---------------------
Amigos notice this too. ... an oddity, a real oddity, so odd that it does not compute. ...... ask a layman about US markets and they say, "yeah, going straight up forever" But traders/investors ought to know nothing goes up forever, there's got to be at least a correction. Here, even THAT is not acknowledged. Even the big drop from Oct 3 had an upward correction. Many here are going to be in a ton of hurt with the inevitable 38.2% - 61.8% correction EVEN if the presumed bull then continues. They also didn't notice the nice juicy RSI(21) trendline that clearly defines SPX rally from Dec 26, 2018. Hugging the line so beautifully. Break that and the correction is underway in a jiffy. Macd trendline already broken. SPX daily Trendline already broken, now hugging the underside, going up. Of course nobody noticed the triple top
Yeah, I hope you put a huge position on because you are so sure of what is going to happen next are you? LOLOLOL
Any trendline can be broke on a minor correction and then resume. It doesn’t mean a crash. triple...cuadruple...tops can be blasted right thru by bullish pressure. Wedge tops can fail over and over again. Fib lines lie quite often. Listen. Markets go up. They go down. They move sideways. They do these things in different ways. Generally money can be made in any senario of up..down..sideways. The most important skill a trader can develop is how to determine, by price action, who has the upper hand. The bulls or the bears. Next is how to structure and manage a trade. Third is being psychologically adept.
(1). Your trendline and mine are not the same. Yours are run of the mill standard fare from TA books = a good start like Algebra, Arith., but then you want to move on to Trig & Calculus. You yourself said to me that you are not a Wave-er. That's OK, nothing wrong, but without Waves you got zip. Trendlines based on Waves are a different breed altogether. (2) Yes of course, many roads lead to Rome. No disagreement on thousands of ways to make $ in markets. AND billions of ways to lose and lose big. (3) Your last para is straight out of the trillions of trading books that revel in standard yawn-type hocus-pocus. ------------------ You said "Price Action" right? And after all these decades you have NOT noticed that PRICE moves in WAVES? And you stated you're not a wave-er. Even the Bible, TA of stock trends has an entire section of Prce waves and ocean waves. One can of course go into Electromagnetic waves, etc., etc., Every pulse in the body is a wave, heart normal is sine wave rhythm. Atrial Fibrillation is irregular waves that are disruptive = corrective waves in Finance which by definition cause huge difficulty. ....... Look at USDJPY weekly. ...... = Atrial Fibrillation to the nth degree Learn Waves, amigo. Don't short change yourself.
SPX weekly from 2009 low all the way to current. ONLY 3 wave based trendlines in total. For a 10 yr span, just 3 TLs. The 1st got one out nicely before the crash of 2015. The 2nd got one out Oct 2018. The 3rd one is why SPX screams at me "bull trap". All weekly
Never understood the logic of fighting a strong trend. I really do! Think about it. The big investors and hedge funds are driving a stock or index higher and you want to stand in their way? Sorry, guy. You are going to lose everytime! They have $100 million to billions and how much do you have in your account? Not even a fair fight!