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Monday, October 25, 2021

Market Update 10/25 - The week in review, and a look ahead at the week ahead

Looking back at Friday's market action. 

Remember the 5 min. $VIX chart we had been watching? We'll about the time that chart broke, we started seeing some selling, and we ended flat on the day. 

Even the 10 min. $VIX chart needed an update, before the end of the day, and I think we're going to be looking at a pullback before the end of the week, as possibly as soon as Technical Tuesday. 

$SPX - doji reversal candlestick spotted 

China finally took out my upside target - as tweeted   

$DJUSFN (Financials): 

Short term Financials look really toppy.  

Tech - The 3X FAANG bear looks like it's ready to rock. 

$SOX looks toppy. 

Energy stocks rallied to a lower high, after breaking the st trend last week. Probably weekly OPEX was the only thing that held the sector up. 

 $DJUSEN (Energy)

$DJUSEN - another view of the same thing, but shows where support was bought. The green lines are what's known in the business as stair stepping, which is a well known technique for pumping stocks higher. There's nothing natural about it. This will continue for as long as Goldman Sachs and Citi, and/or whoever else is rigging the energy markets want....  

Exxon Mobil  is an energy name to watch - looks like a crash could be in order 

Oil can go to $90 

$BRENT - target looks like 91.25, but it could chop around in this range for months  

Natural Gas - seeing it up quite a bit this morning.  

$UNG (Natural Gas Fund) - if it opens above 19.50, then the bears are going to remain trapped for a while. Currently futures are only pointing at 19.40. Pattern is a down-turned triangle (seen in black)

guess that's about it  

Still waiting to see what the pullback looks like 

Good luck, AA 

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