Vix is currently below MA50 and MACD is giving a sell signal on hourly frame. However, watch out for the daily positive divergence forming soon. That will give us the signal to short markets.
SPX Chart
Spot on !
The call for yesterday's low near 1200 was met. SPX hit 1202 on 19th Dec, made a positive divergence in hourly timeframe and reversed up today.
Market gapped up today and we should be rallying this week aka the Xmas Rally...
The next turning date should be made between 22nd to 23rd Dec. My initial price target is 1250-1255. But let's see how fast and furious this rally goes. If its powerful like we see in Oct or late Nov, then 1300 range will be met.
I try to avoid giving price signals as this blog is mainly for timing signals. Price or even the direction is not a guarantee. Sometimes, price cycle inverts.
For Singapore investors, those who bought Noble yesterday must be laughing all the way to the bank now... :)
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