Hammer Time!
And what's about to get hammered is the $VIX, in a manipulated market, as usual.
Over the past several months; every time the $VIX has rallied above the 200 day moving average, it's been hammered back down, on the 3rd day, and guess what today is? It's day 3!
$VIX - Actually broke 19.60 support after I tweeted the chart (below). Next support levels: 17.50, 16.25, and 15.38. And these only need to hold into OPEX Friday. That's the whole point of not allowing the market to correct here.
$VIX pops above the 200 day ma, 2 days in a row. Nothing out of the ordinary. $VIX to gap down below support in the morning. IMO #NoFear pic.twitter.com/gE1qFQURNS
— Veteran Market Timer (@3Xtraders) September 13, 2021
Hammer Time!
Natural Gas:
I didn't realize it had popped higher, at yesterday's open, but once I realized it had I used that opportunity to add to my short bet. It's pretty obvious to me, retail investors are the ones buying at these levels.
$UNG (gas fund) this is the easiest way to buy Natural Gas. Still looks like a blow-off top in wave 5, of C, of P-D. Seeing a 18.75 target this morning.
WE saw a little bear attach in FAANG stocks at yesterday's open. Probably bulls, trying to shake the weak hands, as they return from vacation. Cramer knows what he hears on the street, so that would explain why he's looking for more downside. I used yesterday's bear raid, as an opportunity to take profits on some short bets. When I see the bears get squeezed, I'll be a seller again.
The rest of the market remains pretty dull:
Russell 2000 broke my green line, but found support at the 50 day moving average. That's the level to watch, and below there, the 200 day ma. We're just not seeing much risk of a risk-off environment.
Bull flag:
That's about all I got for today.
GL, AA
No comments:
Post a Comment