DSIs all at extreme lows (5) with VIX DSI at extreme high (96).
Put/Call ratio at ATH (with the data available).
Cumulative distribution is extremely low, similar to 2002 and 2008. In both cases the SP rallied around 20% in 6 weeks or less.
SPX down >7% just this week with 490 of the components down.
Demark countdown exhaustions flashing in indexes 4h/3h/2h/1h time frames. Also daily in sensitive assets like crude (WTI/BRENT) and a lot of single stocks.
RSI formed positive divergence and bullish patterns in most time frames.
At the low end of the current downwards channel, and seems to be forming a bullish broadening wedge.
Current decline levels of support/resistance fit very well with most fib retracement levels from October's highs if it were to reverse here.
If the preferred path of recovery was to manifest, it would rally ~17% until the end of January.
The path is highly speculative, but I think there's a good R/R here.
Put/Call ratio at ATH (with the data available).
Cumulative distribution is extremely low, similar to 2002 and 2008. In both cases the SP rallied around 20% in 6 weeks or less.
SPX down >7% just this week with 490 of the components down.
Demark countdown exhaustions flashing in indexes 4h/3h/2h/1h time frames. Also daily in sensitive assets like crude (WTI/BRENT) and a lot of single stocks.
RSI formed positive divergence and bullish patterns in most time frames.
At the low end of the current downwards channel, and seems to be forming a bullish broadening wedge.
Current decline levels of support/resistance fit very well with most fib retracement levels from October's highs if it were to reverse here.
If the preferred path of recovery was to manifest, it would rally ~17% until the end of January.
The path is highly speculative, but I think there's a good R/R here.
Trade chiuso: obiettivo raggiunto