Important Level for $SPX & $VIX, Not that Pessimistic?!

$S&P 500(.SPX)$ Heisenberg's Chart Update:

What a day today huh?! First 2% drop close in god knows how long. Anyhow, we look forward bretherns! I can see a small mini reprieve bounce near term here.

And then we trek further lower to fill that 5,375 gap fill, causing the Daily RSI to hit oversold conditions similarly to April's 5% correction.

Heisenberg on X

Seth Golden: VIX has signaled a RISK-OFF event when 10-Day ROC crosses 40.

Historically, this has proven a $S&P 500(.SPX)$ BUY signal with forward 3 and 6-month positivity rates 84% and 91% respectively. If you have 3-6 months and cash...

Seth Golden on X

@TRIGGER TRADES : Watch for the 5467-5474-5496 area to act as resistance to produce another leg down.

As warned, $S&P 500(.SPX)$ sold the rally perfectly at 5586 resistance & already reached the 5445 target!

We are now near the 100% ext, so price is vulnerable to a 4th wave bounce, but the next rally is also expected to be sold.
$SPDR S&P 500 ETF Trust(SPY)$ , $E-mini S&P 500 - main 2409(ESmain)$ , $E-mini Nasdaq 100 - main 2409(NQmain)$

TRIGGER TRADES on X

@satymahajan: Gap below on $SPX ~5410 to 5375 to watch for support and a bounce.

If we lose that, I think we will likely see a Weekly 21 mean reversion similar to April. $Cboe Volatility Index(VIX)$ is key.

satymahajan on X