Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Tuesday, October 2, 2012

VIX & SPX

FOR WEDNESDAY
I expect an big up day tomorrow if it moves >1446, which will take price to a HIGH of 1461 (or 1466-1467).
But watch out if it starts the day going higher without first dropping to 1442, because it is likely to give back all the gain by dropping to 1442 (when it gets to 1461 (or 1466-1467)), especially if the move up is too fast. But if it starts the day moving to 1442 before bouncing higher, then expect a strong close after an uninterrupted strong run up above 1446.

Levels to monitor at the start of trading tomorrow are 1444-1446
1). If it moves >1446, then expect a run up (but be careful in the second half of the day).
2). If it moves <1444, then wait for it to drop to 1442 before reversing higher. Bullish play should be made when it moves back >1446 for a conservative play (or >1444 for aggressive play).

VIX-DAILY

SPX-DAILY II

SPX-DAILY I

SPX-30MIN II

SPX-30MIN I

SPX-5MIN