STEVE/MATT,With VIX headed back down and this chart formation,
would we expect semiconductors to be headed back up after tagging
the 200 MA? Thanks for your help interpreting. If SPX is only
wave 4, then we expect one more move down? Thanks
again.
The SOX formed a divergent low on 15 minute chart and then a
rounded bottom which led to a bounce...simply trade your plan on
the time frame you trade. Likely to get a higher
retrace of the decline (maybe some type of abc bounce). Focus on
the instrument you are trading first and foremost instead of the
VIX. Maybe it forms a RS and rolls over from there - keep an
open mind and simply respect your triggers on the time frame YOU
TRADE. The 15 minute charts today indicated some type of
bounce was likely. Not sure what you mean by SPX wave 4 - focus on
the patterns and triggers. My guess is a down open tomorrow
followed by another bounce attempt - just a guess
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
STEVE/MATT,With VIX headed back down
Posted by mdgfain on 4th of May 2020 at 03:33 pm
STEVE/MATT,With VIX headed back down and this chart formation, would we expect semiconductors to be headed back up after tagging the 200 MA? Thanks for your help interpreting. If SPX is only wave 4, then we expect one more move down? Thanks again.
The SOX formed a divergent
Posted by steve on 4th of May 2020 at 04:04 pm
The SOX formed a divergent low on 15 minute chart and then a rounded bottom which led to a bounce...simply trade your plan on the time frame you trade. Likely to get a higher retrace of the decline (maybe some type of abc bounce). Focus on the instrument you are trading first and foremost instead of the VIX. Maybe it forms a RS and rolls over from there - keep an open mind and simply respect your triggers on the time frame YOU TRADE. The 15 minute charts today indicated some type of bounce was likely. Not sure what you mean by SPX wave 4 - focus on the patterns and triggers. My guess is a down open tomorrow followed by another bounce attempt - just a guess