10/01 Week, page-6

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Ewebute

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10/01/22

10:06

Post #: 58744287
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Originally posted by TheFadz: ↑

Friday night should have had markets explode
US vix dropped 4% but had no effect on US markets (very strange)
This could be a bull trap but..

Ftse seems to be the strongest indices that I'm tracking atm (ignored the US dip)
Ftse is now ahead of the xjo again (their futures are even 10 points higher than where they closed)
Dow was flat
Nasdaq & small caps had the biggest drops (again)

ASX currently thinks it's the nasdaq & our futures tracked the dip down again Friday night, however did manage to bounce back later in the night session
If we had tracked the ftse, we would've broken the fence & reached 7530

If that volatility continues to stay down for this week, we have until 15th January before the 19th January attempt at another death spiral vix spike next week (US markets)

US vix futures could open with a gap up (ignoring the move from Friday night) & continue with a death spiral
Has done this before
This is the path bears will want

But I don't know how much longer the nasdaq can sell down before bouncing
That will have to explode soon
Way oversold atm

Scratching my head with all the out of sync indices, but it'll all balance out again soon

Btw, bitcoin has continued with its attempt to grind higher overnight
4hr chart has now turned bullish
Next target will be above 46k on the daily chart to be considered bullish
Otheriwse it'll just keep trading sideways until the next big drop again

XJO fence today will be 7460 (open) & 7440 (close)
If it fails to break through that, it could end up back at the lows of 7375
Breaking through the fence & we have the 4hr & daily charts return to bullish trading ranges for this week & bears will need to create a new fence (again)

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Well thought out commentary so a great post (but I still disagree with the sentiment)

XJO Value at posting: 7,453.2
1 Upvote

0 Great analysis

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