Two charts that should scare EVERY bear out there
VIX, daily
VIX black-doom candle warning of a top - and conversely a floor in the indexes. A move back to the low 17s late Monday/early Tuesday now seems very viable.
JPM, daily (earnings this Friday)
JPM I highlighted at the weekend, and it has found support at the target level. 'If' (and it sure is a BIG if) this is as low as JPM hits this week, then to me, it'd suggest the market might easily be back above 1400 by the close of this week. Just look at the daily MACD cycle for JPM, it is way low, it is due an up cycle.
I can just imagine the horror of the bears, if AA earnings please the market tonight, and JPM (along with WFC) start kicking the financials upward on Friday.
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Back later in the day, I need to consume a large amount of chocolate, and watch Game of Thrones (it makes for a nice alternative/break from watching the market).
VIX, daily
VIX black-doom candle warning of a top - and conversely a floor in the indexes. A move back to the low 17s late Monday/early Tuesday now seems very viable.
JPM, daily (earnings this Friday)
JPM I highlighted at the weekend, and it has found support at the target level. 'If' (and it sure is a BIG if) this is as low as JPM hits this week, then to me, it'd suggest the market might easily be back above 1400 by the close of this week. Just look at the daily MACD cycle for JPM, it is way low, it is due an up cycle.
I can just imagine the horror of the bears, if AA earnings please the market tonight, and JPM (along with WFC) start kicking the financials upward on Friday.
-
Back later in the day, I need to consume a large amount of chocolate, and watch Game of Thrones (it makes for a nice alternative/break from watching the market).
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