The markets have been bearish since yesterday, and the worse than expected data is contributing to this bearish price action. $SPY has opened with a very bearish gap below the white resistance line, but is showing some upside below resistance. The weekly candle looks bearish so far, but there is still one more day of price action.
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There is a lot of volatility in the markets, and the VIX has spiked up 18% so far today. The VIX is attempting to flip this white resistance line into support around $21.75. The rise in the VIX suggests volatility, market fear, and uncertainty. I think there was a lot of uncertainty headed into today’s […]
Read MoreIWM has dropped back into the white zone, and is attempting to flip this white resistance zone into support. I think we are seeing a bullish rebound forming already, and the price needs to stay above $210.44 to remain bullish here. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreDivergence between Sahm’s rule and insured unemployment rate, which means the Sahm’s rule could be giving a false signal here. Should be interesting to monitor over the next few days and weeks. The market is having a positive reaction to this news. The unemployment rate improved slightly, as it decreased from 4.3% in the previous […]
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There is a lot of volatility in the markets, and the VIX has spiked up 18% so far today. The VIX is attempting to flip this white resistance line into support around $21.75. The rise in the VIX suggests volatility, market fear, and uncertainty. I think there was a lot of uncertainty headed into today’s […]
Read MoreIWM has dropped back into the white zone, and is attempting to flip this white resistance zone into support. I think we are seeing a bullish rebound forming already, and the price needs to stay above $210.44 to remain bullish here. Follow me on social media: https://linktr.ee/realchartchamp
Read MoreDivergence between Sahm’s rule and insured unemployment rate, which means the Sahm’s rule could be giving a false signal here. Should be interesting to monitor over the next few days and weeks. The market is having a positive reaction to this news. The unemployment rate improved slightly, as it decreased from 4.3% in the previous […]
Read More