After seemingly forever BTC finally broke down through the famous "$8500 bottom support".. days later we're about to test that level again.. I believe we will bounce until around 9000-9500, then continue down bouncing down off of the previous bottom trendline that we broke recently. -- I do not think this is a bottom, I think it is merely a deadcat bounce
So as we all know, the $SVXY ETF's panic mode was activated after hours on mon 2/5/18 causing a, to put it lightly, TREMENDOUS sell-off in after hours trading. If SVXY opens down around the current levels, I am willing to bet that the the SVXY ETF will not remain 'broken' and will be 'fixed', so to speak, and retrace much of its after hours move (my guess is to...
NASDAQ FUTURES looking to be the strongest out of the indices. it is the only one that has held the 100MA firmly, expect a pop to 50MA on this one, or at the very least a pop to $6500 or slightly higher before switching from long to short.
Currently, the DOW futures are looking slightly better than the S&P500 Futures. I am looking for long pop back to 100MA then re-enter on the short side.
This is the S&P 500 Futures chart. Currently, we have breached the 200MA. If the SPY gaps below the 200MA tomorrow and does not break back above, then I believe we may be days away from the beginning of a bear market. What i'd like to see happen is the SPY holding its 200MA and possibly popping back up around its 100MA. If it does this I will enter a short position.
