S&P 500 at the top of the channel - Looks overbought

٢١ يناير ٢٠٢١

S&P made a strong rally to the top of the rally channel. Broke above practically all my resistance lines on all my charts. I am see a strong sell from my SPX indicator and a buy on my VXX. Sometimes my indicator can trigger a little early so it may not be today but sometime in the next few days we should see a pull back. The 1d time frame still has not peaked yet, so watch that but it can be a little lagging compared to 4h. Take it with a grain of salt, but tread carefully.



VXX

٢١ يناير ٢٠٢١

ملاحظة

1:54pm update

٢١ يناير ٢٠٢١

ملاحظة

4pm close. Slow drop most of the day. Found support at the blue line and resistance at the green. The most curious thing that happened today was that both the S&P and VXX dropped in the last 30 minutes of the day. VXX made a very sharp drop after showing some strength earlier in the day, which is what it likes to do right before it rallies. On the 4h I see the RSI about to cross the EMA which is a major signal that some form of pullback/corection is comning. My suggestion would be to watch the opening bell tomorrow and look for weakness.

SPX



VXX

٢٢ يناير ٢٠٢١

ملاحظة

Friday 8:44am
So far, right on cue. Now will it continue.