SoundsgoodTFtalks

Are you guys ready for the bull market? $SPX $ VIX $COIN

Short
SP:SPX   S&P 500 Index

We are running one step away from breaking out from the bear market structure. Are you guys ready? (I'm not :D). From the SPX, we broke the uptrend channel and speeded up, which normally indicated the market is trying to blow off the top or is trying to rush to the top. From the last Friday, SPX closed 4298.87, forming a "shooting star", we need to be much more careful about the movement after this kind of shape. Especially we'll have a big week:
Tue: 08:30 ET, CPI.
Wed: 08:30 ET, PPI. 14:00ET FOMC Statement. 14:30 ET, Powell speech/FOMC Press Conference
Thur: 08:30 ET, Retail sales.
Fri: 10:00 ET, Michigan consumer sentiment.


What we are currently at?
We are very close to the 4325-4350(around 1%), which so-called bull-bear boundary. As long as we close above 4350, that's a confirmation signal that we are officially entering into a bull market territory. (This means the lows from Oct last year 3500ish will be the past and we will not see it even if the market has a significant pullback. 3800-3900 will be the new pullback target to start buying).


Vix: Vix as a volatility index, usually the market rise or sideways vix will fall, if the market falls slightly vix will fall as well, but when the vix rises with the market, it indicates that the market is about to have a significant volatile and it might have a big pullback. Vix gapped up on Monday, which is similar to SPX. If the intra-day gap is not filled, indicating the short-term bottoming of the vix. we might see a significant move from Vix products. UVIX $ UVXY.

COIN: Still running in the downtrend. The lawsuit from SEC and Cryptocurrency platforms will not end easily. There will be a money squeeze like SVB, but I don't think Coinbase will be the next SVB, instead, I think Coinbase will solve the crisis and the stock price will drop to a golden price that we can buy the dip. (NOT NOW!). The ideal price to buy I would think at least around pre-lows area(29-34). Currently, all MAs are acting as bearish, which every bounce will be sold.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.