The markets BITO, FXE, GLD, TLT are all under extreme downleg compressions. A resolution or resolution failure could cause an extreme reaction in any or all of these markets. If there is a marked retracement in any of these markets an out of the money call position could offer an exceptional opportunity even if only one of these markets complies, IMHO.
The long term zero slope pivot MA and the containment MA together warning of imminent and perhaps significant if not lengthy rally. I am in preemptively and also have some dry powder if/once triggered.
Not sure I've seen too many better upside pivot setups. I'm already long preemptively with tight stops. The real juice is just above with zero slope MA and containment MA now also roughly zero slope.
As from last night and from last week or so posts, this was as clear rupture up through the pivot band. I would expect follow through, possibly significant and possibly for weeks.
SPY trapped between 2 very significant long term pivot bands. Today was a thrust towards the one above. Let's see if this time we get a true rally through the nearby above resistance.
USO right between the short and long cycle pivots. Let's see what provocation we get to nudge it one way or another. Supply side shock? War? An unexpected number maybe Friday morning?
Happy to trade this range between support and resistance but suspect that a breakout from the channel might be very significant.
To even imagine the US defaulting on any of its debt is just unthinkable. But here are my pivot points for it coming true or fearing that it might come true and the relief when the recurring debt default silliness is behind us once again. The move in either direction might be rather significant and I would be happy to be on board for either direction.
Are we at the right shoulder and headed down or just consolidation before a move higher?
It's a MAD world out there but it looks like we get some resolution this month. SPY pinned between zero slope MA of lows above and zero slope MA of highs below. It's a tight range and this consolidation is over a year in coming. The breakout could be significant. I'll trade whichever direction it gives me!
2:1 containment ratio with the MA of medians and 3:1 containment ratio with the MA of highs. The cycle median is about 3$ higher. I'll be a buyer preemptively and on a break higher as well.
With USO down near where it was when OPEC throttled supply recently, will they do it again or something even stronger? With USO 11 days under the 8 day MA of median prices, a > 1:1 ratio, I am paying close attention to this market.
Are we done? Lower long rates with a recession? Or a collapse with default fears or other economic reasoning? I have my MA levels and will wait and watch.
Well, rejected by the zero slope MA of lows. A serious resistance level. But if we get through a real reason to buy IMHO. I'll be watching closely.
Several months ago at a recent significant high, price came right to the MA of 456 day of lows the zero slope MA at that point and was rejected. Friday, price came right to the current zero slope MA again, the 510 day of lows. I would argue if we penetrate higher this time we could see a significant rally. Many would like to know would we then go on to ATHs. ...
The 479 day MA of lows is the zero slope MA. Similar held a few months ago. I would see it as a line in the sand. Otherwise will look to trade to the downside with relevant signal.