11/09/2020 UVXY - update
Hi All,
Tomorrow will be a very interesting market. We got strong hammer candle on VIX/full bearish red candle on the SPY.
The interpretation of the two candlesticks is simple. A lot of buying activity is happened on UVXY price around 12, thanks to JGM0706 who called $12 as a bottom months ago.
On the other side, SPY, we have a full red candle without a wick at an all-time high. This can be perceived as longs started to realize their gains/buyers exhausted their momentum. Due to the huge red candle, I'm expecting inside green bar tomorrow, or Harami pattern, which would give confirmation that probability of S&P500 heading to the south is higher.
Candle formation on UVXY/SPY tomorrow will decide market trend for at least a week.
Tomorrow will be a very interesting market. We got strong hammer candle on VIX/full bearish red candle on the SPY.
The interpretation of the two candlesticks is simple. A lot of buying activity is happened on UVXY price around 12, thanks to JGM0706 who called $12 as a bottom months ago.
On the other side, SPY, we have a full red candle without a wick at an all-time high. This can be perceived as longs started to realize their gains/buyers exhausted their momentum. Due to the huge red candle, I'm expecting inside green bar tomorrow, or Harami pattern, which would give confirmation that probability of S&P500 heading to the south is higher.
Candle formation on UVXY/SPY tomorrow will decide market trend for at least a week.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.