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Posted 23 May 2019 - 08:59 AM
Even at the lows so far this morning.....my delta VIX parameter (VXST minus VXMT) is still looking bullish so far.....delta VIX negative. Absolute desperation for inventory here I think. Can they really rig the tick below -1000 forever till they get it. So far it looks like the bulls are keeping the 20 min EMA on TQQQ above the VWAP.....that will be incredible.
Edited by LMF, 23 May 2019 - 09:04 AM.
Mark S. Young
Posted 23 May 2019 - 10:51 AM
Yesterday, the VIX P/C was telling you to look for weakness today.
Mark S Young
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Posted 23 May 2019 - 12:15 PM
This downswing on TQQQ reached the 38.2 retrace of what I would call wave1 up from the December lows. I"m not a wave counter, but the Dec 24 low was best I've seen since Aug 2015 as far as a reset. I use daily RSI(14) on the DJIA to gauge it. They let the gaps on the 60 min chart get pretty ragged.....at the low, they just filled one going back to Mar 13 I think. And there's still a handful left to fill at higher prices now.
Edited by LMF, 23 May 2019 - 12:23 PM.
