SPX500: Monitoring the correction progress
It appears we will have a correction in SPX from here onwards. At least it's highly likely given the price action and prospect of a rate hike. Now, as far as the downtrend goes, most people would expect a gigantic crash, as they have been for a long time, but I'd pay close attention to the key levels below for buy opportunities.
Vix shows interesting levels where the smart money drove the market after interesting enough dips they bought. These levels when revisited, give us good levels to buy against, risking 1 daily range. Keep an eye on it, if looking to short, option traders might have good opportunities, but be ready to buy against support, while keeping the option trades as protection for your longs. Rgmov will lead the way, if we do see a large drop, the last time it caught the bottom with good precision, as called by Tim West in his KHL chatroom this year.
My signals clients and me are holding shorts, but we also have longer term long positions in hand picked stocks.
Contact me if you're interested in knowing more about my services.
Good luck!
Ivan Labrie.
Vix shows interesting levels where the smart money drove the market after interesting enough dips they bought. These levels when revisited, give us good levels to buy against, risking 1 daily range. Keep an eye on it, if looking to short, option traders might have good opportunities, but be ready to buy against support, while keeping the option trades as protection for your longs. Rgmov will lead the way, if we do see a large drop, the last time it caught the bottom with good precision, as called by Tim West in his KHL chatroom this year.
My signals clients and me are holding shorts, but we also have longer term long positions in hand picked stocks.
Contact me if you're interested in knowing more about my services.
Good luck!
Ivan Labrie.
Komen:
Despite the shake out, it appears the downtrend is starting now.
Komen:
It begun.