as I said last night, the move up looks like a wave 3, so I
would consider a pullback as a wave 4 at this time, then another 5
wave up.
use the 5 min SPX, working well, gave a nice sell signal
yesterday near the close,a nd a buy this morning when it got
oversold
and on the 15 min charts, the stochastics have not crossed
however that said, I think wave 4 should pullback more than this
ultimately, the VXX 15 min chart looks like a bull flag at the
moment, that could change however we'll see
VXX 15 min
Posted by matt on 14th of Jul 2010 at 09:34 am
Here's a chart with some comments on the chart, the 89 period MA has crossed over 20%.
VXX 15 min chart
for non-Stockchart members, copy and paste the following link
http://stockcharts.com/c-sc/sc?s=VXX&p=15&yr=0&mn=0&dy=11&i=p26710824333&a=203998450&r=5639
Projecting SPY from VIX
Posted by klatuu on 14th of Jul 2010 at 10:55 am
Since a 2% climb in the VIX would yeild a 1% drop in the SPY this would mean:
100 * (27.63-25.00) /25.0 = 10.5 %
so, (100 - 10.5/2) * 110.10 = 104.31 SPY
That's quite a drop.
Klatuu
Thanks Matt however I'm going
Posted by cspirit on 14th of Jul 2010 at 10:37 am
Thanks Matt however I'm going to pass on this trade right now ... My charts look like higher Market prices still ... Watching it only at this time!
as I said last night,
Posted by matt on 14th of Jul 2010 at 11:22 am
as I said last night, the move up looks like a wave 3, so I would consider a pullback as a wave 4 at this time, then another 5 wave up.
use the 5 min SPX, working well, gave a nice sell signal yesterday near the close,a nd a buy this morning when it got oversold
and on the 15 min charts, the stochastics have not crossed
however that said, I think wave 4 should pullback more than this ultimately, the VXX 15 min chart looks like a bull flag at the moment, that could change however we'll see
144 Stoch just poke thru
Posted by benjee on 14th of Jul 2010 at 10:04 am
144 Stoch just poke thru 20 level