Posted by sbaxman111 on 11th of Jul 2016 at 03:47 pm
I was reminded today that the 161.8 Fibonacci extension off
of the 2007 to 2009 S&P high and low is 2138 and change .....
and is a very strong resistance point. So far, today's move has
stalled out very near this point.
The $Vix is currently closing back inside its lower BB line
after closing below it on Friday.
Today's daily CCI-20 indicator is above +200 at the moment.
This is an overbought place where, statistically, short-term
reversals have taken place - especially when accompanying 60 min
indicators ate also significantly overbought short term.
Posted by sbaxman111 on 11th of Jul 2016 at 04:12 pm
I apologize - I forgot to mention that I use a faster
formula of 1.5 as well as 2.0 - the faster line provides more
"heads up" reversal opportunities in my own research when paired
with my combination of various 60 min indicators.
161.8 Fib Extension
Posted by sbaxman111 on 11th of Jul 2016 at 03:47 pm
I was reminded today that the 161.8 Fibonacci extension off of the 2007 to 2009 S&P high and low is 2138 and change ..... and is a very strong resistance point. So far, today's move has stalled out very near this point.
The $Vix is currently closing back inside its lower BB line after closing below it on Friday.
Today's daily CCI-20 indicator is above +200 at the moment. This is an overbought place where, statistically, short-term reversals have taken place - especially when accompanying 60 min indicators ate also significantly overbought short term.
I don't see the VIX
Posted by EdZ on 11th of Jul 2016 at 04:05 pm
I don't see the VIX closing below the BB on Friday. What time frame are you looking at and settings on BB?
161.8 Fib Extension
Posted by sbaxman111 on 11th of Jul 2016 at 04:12 pm
I apologize - I forgot to mention that I use a faster formula of 1.5 as well as 2.0 - the faster line provides more "heads up" reversal opportunities in my own research when paired with my combination of various 60 min indicators.
Gotcha - thanks
Posted by steve on 11th of Jul 2016 at 04:14 pm
Gotcha - thanks
sbaxman - the VIX did
Posted by steve on 11th of Jul 2016 at 03:58 pm
sbaxman - the VIX did not close below it's lower BB on Friday.