Buy signal for what exactly?   The VIX bounced back into initial resistance yesterday and is now pulling back again.  

    Based on the comments on

    Posted by Trendie on 3rd of Aug 2022 at 12:14 pm

    Based on the comments on your own BPT chart. I guess that would be a $VIX buy and a market sell.

    The lower close you highlighted 

    Posted by steve on 3rd of Aug 2022 at 12:29 pm

    The lower close you highlighted  would be in reference to a a VIX has moved above it's upper and then reverses down (creating a buy for the SPX).  The buy and sell relates to the SPX not the VIX.  

    The VIX is NOT below

    Posted by steve on 3rd of Aug 2022 at 12:15 pm

    The VIX is NOT below it's lower BB today - that occurred a few days ago and led to the market pullback.  

    Steve, I really commend you

    Posted by arun on 3rd of Aug 2022 at 12:28 pm

    Steve, I really commend you  guys for keeping us on the long side though you believe markets will eventually go down. I have quite a few subscriptions and some of them are super bearish and still kept recommending only short ideas. Thanks again for your work

    Ditto, I would have panicked

    Posted by flredsox on 3rd of Aug 2022 at 12:37 pm

    Ditto, I would have panicked out of my longs on that earlier today pullback; but, I kept repeating to myself, "I believe Steve, I believe"

    SPX main target zone is

    Posted by steve on 3rd of Aug 2022 at 12:40 pm

    SPX main target zone is 4170s for today

    Thanks arun - this rally

    Posted by steve on 3rd of Aug 2022 at 12:37 pm

    Thanks arun - this rally has nothing to do with improved fundamentals, it's simply a rebalancing of trader's positioning after getting off sides.  

    Ok. Sorry. I guess I'm

    Posted by Trendie on 3rd of Aug 2022 at 12:18 pm

    Ok. Sorry. I guess I'm misinterpreting the signal steps then. I numbered them on the chart based on the three steps. Perhaps they need to occur on three consecutive candles.

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!