Wow, what a slowly slowly and BORING week, cause of triple option expiration friday. Finally its over and they wont manipulate markets up more(not in the manner that they have done last weeks). Its over with all the option expirations and next week should be a BLODDY week according to charts. Everything is setting up more and more bearish everyday I look, and I am quite confident with a SPX target of 942 over next 3 weeks...
We will see but this looks VERY bearish for markets here and VERY bullish for the VIX. VIX is about to breakout above WEEKLY falling wedge, flash crash comming ? Probably... but a big move down comming and thats why I'm HEAVY short 1122 and staying short...
MACD ticking down on histogram on the SPX and very overbought with a TRIPLE bearish MACD divergence. So if timing is right we should roll over big time next week and I found out that why they holded markets up this time was cause of option expiration like all the other times..... Now they can finally plung the markets, bullish sentiment VERY high and so many gaps to fill so no support below us now, perfect to a crash comming...
My target short term still 1070-1080 and will see if it holds, but right now I dont think so... I think 942 is the next level to look for...
Have a nice weekend !
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