Markets did what I expected to have some wild swings , in our room at www.nwatrading.com we got all members to buy the drop in SPY at 114 also with TNA at 37.5 and rode the markets up into close were we sold positions - huge gains made in just a daytrade.
I were selling all my swing trade positions in TNA from 36$ and sold them at 42.5$ - I really thought we would see some higher levels - and there is also a possibility we rally higher on Monday next week , as my target SPX 1220 were the first target.
But either way Im happy with profits , its not everytime you can make profits and as long I make 10-15% everytime on swing trades thats great ! Hope some of you people bought the fear last weeks , it has been an amazing trading week both up and down.
Right now I'm becomming more bearish than bullish , also that the bullish sentiment is widely increasing.
I started a position in TZA for a swing trade at 47.3 and will add if we rally next week in size position.
The next move in markets could take us down to either 1080 first , or 1040.
The VIX is also holding up great - I would think VIX would go a lot lower , but seems like VIX is consolidating somehow up here for another move higher, possible we get some news with Greece and its bailout package which wont work.....who knows.
The thing is also that my MONTHLY chart suggest the dollar could see a MASSIVE rally from here over next months and that the dollar has bottomed - so as long the lows in dollar holds then dollar should go higher , we are quite near this lows , but lets see....
A higher move in dollar is the same with a lower move in stock markets.
Thanks for the sharing, Sqwii. It seems that your view for the next week is slightly different with SC, does it? SC hasn't update his newest cycle for next though. I remember he mentioned bullish for next week. Or maybe not the whole week though. How is your time frame for this bearish cycle? Or what's your view about metals? Thanks very much.
ReplyDeleteHi Roger
ReplyDeleteMy cycles tells me that we should see more downside over the next weeks from here - the thing is just that we are still on a daily buy signal in markets and markets may have a last push up early next week.
Overall it seems to me though that VIX is consolidating sideways/down with the markets choppy lately after a big move down.
This tells me that OFTEN when markets have been moving down a lot , then having a pennant pattern or triangle - seems like we could break down.
I still think that gold and silver could fall saome further in a correction - but lets see.
I will update as soon I get a sell signal in markets , for now every index is on a buy signal.
Above 1200 (bullish) below 1130 again... very bearish imo
Are you out of TNA?
ReplyDelete