Monday, April 24, 2017

perceived chaos that is actually very ordered - This looks like a 1 day reaction

Brief Update - Stocks pushed through the resistance but the Euro rally and the Gold drop stopped at resistance/support.  VXX hits NEW ALL TIME LOWS!


These big moves merely hit support/resistance and stopped.  So the big day will actually be tomorrow, when the price falls away or breaks out. 






Dow Jones - advance halted?



VXX - maybe supported



10Y Yield - bounced off the horizontal line and is currently below the descending resistance line.  This could breakdown in days.



DXY - descending bullish wedge?  not sure.  Is there a thing for shoulder-head-shoulder-shoulder? 
The lower highs and lows indicate bearishness, but the contracting range indicates the bearishness is running out of steam.





Gold -



It is important to note, the S&P seemed to breakout more legitimately, but it still a 4th lower high if it doesn't advance higher.