Good Morning
SMALL THREAD
While we did call the
NDX weakness & top, at that time we didn't think it would be as bad as it got, at least I didn't.
Last year we really thought
VIX would break out & the markets would collapse. Our original expectations didn't pan out but we, mostly I, changed as more data came in.
We called a bunch of bounces & tops, ALL DOCUMENTED, BUT our best call was becoming BULLISH in late September on
DJI & Bullish on NDX in October.
Since then we've been cautious Bull with a few bearish calls but ultimately, we were/are still bullish.
During this time theVIX was forming a HUGE Symmetrical Triangle that we posted on countless times.
We were biased and thought theVIX would break out and #stocks would be cremated. Obviously, were bullish after Sept 2022 but we thought there would be an eventual harsh crash that made 2022 like a walk in the park.
When #VIX broke down we were SHOCKED! That's when we knew that the can was being kicked further down the road. There's a lot more at play that we've been discussing on occasion.
SPX has been on a tear but it is currently in a consolidation phase as seen on a daily chart. However, as you can see, RSI can remain overbought on a weekly for long periods of time.
VIX is slowly closing in on a major support level. While it can break through, IMO, don't think it will do it the 1st time.
#VIX will likely get a nice bounce. This bounce will likely be strong and could mean possible weakness for #stocks, soon.
SMALL THREAD
While we did call the
NDX weakness & top, at that time we didn't think it would be as bad as it got, at least I didn't.Last year we really thought
VIX would break out & the markets would collapse. Our original expectations didn't pan out but we, mostly I, changed as more data came in.We called a bunch of bounces & tops, ALL DOCUMENTED, BUT our best call was becoming BULLISH in late September on
DJI & Bullish on NDX in October.Since then we've been cautious Bull with a few bearish calls but ultimately, we were/are still bullish.
During this time the
VIX was forming a HUGE Symmetrical Triangle that we posted on countless times.We were biased and thought the
VIX would break out and #stocks would be cremated. Obviously, were bullish after Sept 2022 but we thought there would be an eventual harsh crash that made 2022 like a walk in the park.When #VIX broke down we were SHOCKED! That's when we knew that the can was being kicked further down the road. There's a lot more at play that we've been discussing on occasion.
SPX has been on a tear but it is currently in a consolidation phase as seen on a daily chart. However, as you can see, RSI can remain overbought on a weekly for long periods of time.VIX is slowly closing in on a major support level. While it can break through, IMO, don't think it will do it the 1st time.#VIX will likely get a nice bounce. This bounce will likely be strong and could mean possible weakness for #stocks, soon.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.