S&P500: Vix spike retraced after testing Key Hidden Level
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We had a significant rally after Vix spiked 54.47% in 3 days, and the S&P500 index landed right on a Key Hidden Level of support, caused by the smart money buying spree after older Vix fear spikes. Each time the smart money buys the selloffs, they retrace Vix spikes by 75%, and at that point we get these levels, which if they hold, show a bullish bias is a smart thing. In this case, we rallied from it and are now testing a low volume resistance, and showing signs of exhaustion in the intraday rally, on a time at mode basis.
There's a key resistance above, caused by the Brexit activity, which I expect to see tested soon. For now, I'm monitoring this progress, and holding some equity longs, but also adding to my longer term shorts in DB, FB and IBB.
I'll update this chart with more details as they come.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.43% on such information.
There's a key resistance above, caused by the Brexit activity, which I expect to see tested soon. For now, I'm monitoring this progress, and holding some equity longs, but also adding to my longer term shorts in DB, FB and IBB.
I'll update this chart with more details as they come.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.43% on such information.
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Following the script.Nota
Right at the Brexit day range expansion day mid point now: s3.amazonaws.com/tradingview/snapshots/d/dD8WAz90.pngKey decision level. Let's see how it goes.
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This should be the top zone for this rally.
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