We’re still in consolidation and formed a doji day on all indices and many sectors. It’s not necessarily bullish or bearish. It signals that the market is taking a breather. The 20-day MA remains as sufficient support and most stocks have not broken down and closed below that level. The VIX has followed through with the breakdown below it’s 20-day MA. The key thing to note is a clean breakout or breakdown from the present neutral range we’re in right now.
SPX 1-day
SPX 3-day
SPX 10-day
SPX 6-month
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Just want to remind people with peanut-sized brains to form their own opinions if they’re smart enough. I provide the bluprint.
You do nothing of the sort, young man. You are, in fact, a brainwasher of the first order, secretly trying to make everyone buy BEAV. I know your type.
I’m showing the same resistance on the SPX as you did. great work!
Also, have you noticed the Vix has drifted to the lower end of its channel, 49-52. A spike below that signals a short term reversal is near.
-gio
btw… welcome King!
Hey! Congratulations on becoming King of the PG.
I look forward to learning from your charts.
Nice work TA mafia.
I will look forward to your reign.
Congrats to the new K of PG. I always look forward to your updates.
Nice job!
hail the new king!
Where’s the cat?
Here’s your cat!
Gio – yup, with an initial target of 43-45 for the VIX @ 50-SMA
No ‘WTF’ either? Sad, sad day.
Actually, maybe you could put it so that it encloses the whole day. As in, WTF is everybody doing? Can’t just take the day off for an election pre-party!
Congrats to the King!
That being said – all those pictures are going to look really nice when the market decides to do what it will.
Dow to 6500!
SPX to 500!
I was wondering what you thought of gap ups and gap downs. Considering the resisitance we have identified would a gap up throught the resistance be bullish or ppt fuckery and how would that figure into your calculations?
This morning we gapped through resistance on the idea of hope and change…I’m thinking get short here with a closing stop of 1055 S&P…any thoughts?
good time to sell short-term long positions here..VIX as hit the 50-day MA
Thanks for the cat
Congrats on the monthly title TA!
Now I must buy some BEAV!
Congratulations, John. Well earned.
BTW, you everyone a drink. Sacred King of the PG tradition.