Looks like SPY is ready to make a HUGE downward move.
I think it's possible that the RSI might even break up out of that wedge, but would subsequently fall.
You can see a similar, but less dramatic effect on the daily.
This, and converging moving averages on the VIX, and a shrinking ATR all tell me that the bands are narrowing, things are coiling up.
A big move is coming, and probably soon. If I were a betting man (full disclosure, I am.. I'm here after all :) I'd be playing vix calls and shopping for SPY puts. These charts tell me there's a huge pile of tinder and fuel, just waiting for a spark.
I think it's possible that the RSI might even break up out of that wedge, but would subsequently fall.
You can see a similar, but less dramatic effect on the daily.
This, and converging moving averages on the VIX, and a shrinking ATR all tell me that the bands are narrowing, things are coiling up.
A big move is coming, and probably soon. If I were a betting man (full disclosure, I am.. I'm here after all :) I'd be playing vix calls and shopping for SPY puts. These charts tell me there's a huge pile of tinder and fuel, just waiting for a spark.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.