Posted by timebandit on 22nd of Sep 2022 at 11:21 am
$VIX is up 1% now. So far bounces today have been shorting
opportunities. when I reviewed charts last night, I did not see
oversold extremes in P/C ratios or McClellan oscilators. We're
getting there, but if this is a Wave 3 down, it may be most extreme
of all. That remains to be seen, but one thing I did note is that
you often (but not always) get a divergent double bottom in the
McClellan oscillator when it gets below the horizontal green line
on this $SPXMO chart. Note that the MACD is crossing negative well
below zero. When that happened in early May (vertical dotted blue
line), it didn't bottom for another month, though there were a
couple healthy bounces along the way. So keep an open mind
here.
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VIX IS DOWN TOO, ABOUT
ES futures
Posted by shellson2 on 22nd of Sep 2022 at 10:32 am
VIX IS DOWN TOO, ABOUT 1%
$VIX is up 1% now.
Posted by timebandit on 22nd of Sep 2022 at 11:21 am
$VIX is up 1% now. So far bounces today have been shorting opportunities. when I reviewed charts last night, I did not see oversold extremes in P/C ratios or McClellan oscilators. We're getting there, but if this is a Wave 3 down, it may be most extreme of all. That remains to be seen, but one thing I did note is that you often (but not always) get a divergent double bottom in the McClellan oscillator when it gets below the horizontal green line on this $SPXMO chart. Note that the MACD is crossing negative well below zero. When that happened in early May (vertical dotted blue line), it didn't bottom for another month, though there were a couple healthy bounces along the way. So keep an open mind here.