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CONUNDRUM: Bullish Charts vs VIX/VXX Buy


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#1 dTraderB

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Posted 10 June 2018 - 08:44 AM

I looked a few times just to confirm what was my original assessment: SPX & DOW charts are very bullish, thus one has to be bullish, especially of SPX 2760 is taken out and SPX 2860 support holds next week. 

 

However, my VIX/VXX buy (SPX sell) was triggered last week and is still in effect. 

 

In addition, the weekend geopolitical events have so far proven to be bearish (G7 or G6 plus 1 or...) , and the stealth factor that could derail everything is the rapidly escalating emerging market crisis. 



#2 dTraderB

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Posted 10 June 2018 - 08:47 AM

Trump economic adviser: Trudeau 'stabbed us in the back'

 

http://thehill.com/h...-us-in-the-back



#3 dTraderB

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Posted 10 June 2018 - 08:55 AM

Assorted TA stuff from my weekend reading:

 

Bullish sentiment hits highest level since February as stock rally charges on

https://www.marketwa...s-on-2018-06-08

 

https://www.marketwa...rama-2018-06-09

 

https://www.project-...-rogoff-2018-06

 

 

https://seekingalpha...rld-burns?ifp=0



#4 dTraderB

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Posted 10 June 2018 - 08:57 AM

More important than other TA stuff is this from Carl:
 

DP Weekly Wrap: Market Approaching Overhead Resistance
Carl Swenlin |  June 08, 2018 at 06:03 PM

http://stockcharts.c...resistance.html



#5 dTraderB

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Posted 10 June 2018 - 09:04 AM

Mark says trend is up but flashing VIX SELL while Tushar says we are in the Summer Rally and asks how high.

 

http://www.traders-t...-short-2x-sell/

 

http://stockcharts.c...mmer-rally.html



#6 dTraderB

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Posted 10 June 2018 - 09:11 AM

And, this one, anyone has more info on "SELLING ON STRENGTH" ? data last week?  Inn-ner-esting (Bourdain's pronunciation) chart below 

"Stocks closed at a new daily cycle high on Friday. However the over 2.7 billion Selling on Strength over the past 6 trading days warrants caution.

 

While stocks closed at a new daily cycle high on FridayThursday remains as the daily cycle peak. Unless stocks break higher, day 24 would remain as the daily cycle peak. Therefore a break below 2760.16 would form a daily swing high to signal daily cycle decline. A break below the daily cycle trend line would then confirm the daily cycle decline. Stocks continue to close above the upper daily cycle band indicating a daily uptrend. Stocks will remain in their daily uptrend unless they close below the lower daily cycle band."

 

CHART

http://imageshack.com/i/pmzOiFgdp



#7 robo

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Posted 10 June 2018 - 11:46 AM

Most of the indicators/data  I use is warning me to stay nimble this late in the cycle, and not hold long positions. I still think we move under the 9 dma  this week, and that's my trade for now.  

 

Good trading.

 

I mainly use VXF when charting and position trade with it ( mainly swing trading this year) . I use VXF  because I mainly trade small caps. The VXF trades are also free at Vanguard. Trading TNA/TZA - TQQQ/SQQQ - JNUG/GDXJ when I like the set-ups on other accounts.

 

Some things below beside the buy backs that will cause some moves this week. You pointed out some news events. This has been the best short-term trading I have seen in years. LOL... I'm waiting on the next market moving tweet to trade.

 

http://www.forex-cen...on-calendar.php

 

https://www.nasdaq.c...c-calendar.aspx

 



#8 robo

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Posted 10 June 2018 - 11:48 AM

 

For the record: Most of the time I'm VST or day-trading using 30 minute charts are less...


Edited by robo, 10 June 2018 - 11:56 AM.


#9 robo

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Posted 10 June 2018 - 12:00 PM

Good trading next week!

 



#10 robo

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Posted 10 June 2018 - 12:17 PM

Good trading. 

 

http://www.etf.com/e...fund-flows-tool


Edited by robo, 10 June 2018 - 12:24 PM.