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Wednesday, November 27, 2019

Market Update 11/27/2019 - Rigged Market Continues to Hold Up in Futures Trading

 Funny, how the market can only rally to a new recent highs, on light holiday volume, but we've seen this story before. A lot of short sellers take off early, because the charts become unreliable, but it's important to update your charts continually. Even if it's only a couple hours a day, you mustn't become complacent.

For instance we saw a washout on the st #VIX yesterday, and now you know exactly where fear is going to return. Doesn't matter if that's today, or next week, you need that breakout target (above 11.75)  in order to confirm the reversal, and you can bet the algos are already being loaded.... In the same way, $VIX resistance is going to tell you precisely where risk where the next risk-on trade is. It's so simple, but the $VIX can continue to be hammered down, as the powers that be, take profits. It would be unusual to see the $VIX break out on light holiday volume, but you never know.  
$VIX - 1 min chart tweeted out yesterday @3XTraders. 

$SPX - The 1 min. chart has become unreliable, so it has to go, and I'm afraid a 15 min chart isn't going to be of much use, for much longer.   

$SPY could touch 315. Looks the likely target.

$COMPQ - looks like it's trading into a broadening top.

We saw financials reverse a few days ago, ahead of the Deutsche Bank news. Not seeing new highs there. See: Deutsche Bank sells $50 billion in assets to Goldman Sachs amid overhaul: source - Reuters 

$GLD - Saw this little rally in Gold coming, yesterday, and this is where investors typically like to hide when the #SHTF. That's a tell, especially if that rally continues.  Gold is like the Alt $VIX, and I suspect something is about to spook bond traders, or currency markets. 

Who knew the Canadian Rail Workers went on strike? I never heard it reported, but I don't read the Wall Street Journal. Of course the Fake Financial News didn't waste any time reporting the good news, yesterday. The funny thing is the $TSX hardly even pulled back...

I'm out of time, and have a lot of charts to update, and stop hunts to track down.

Follow me on twitter for the latest up to the minute analysis @3XTraders 

Have a Happy Thanksgiving,

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