Daily Posts & Analysis

Trading ranges have come down and the market’s violent swings have abated. However, volatility remains high indicating we’re still very early innings in the rally.

Market retracing some of yesterday’s gains as focus shifts toward the China trade war. Trading ranges & the $VIX both remain elevated and outside normal operations.

The markets remain a full 5% off of their lows set early Monday morning. The $VIX still trades north of 50 and remains deeply overbought. The NASDAQ-100 Daily & Weekly charts are oversold.

Capitulation Monday is following the typical playbook. The QQQ has already rallied 10% off of its lows and we’re likely to see substantial more upside ahead.

All of the signs point toward the market setting a bottom in this very trading day. In fact, there’s a strong probability the market will bottom during the first few hours of trade today.

$VIX is up to the 40’s today as Market fear has fully taken hold. Market is now in the process of capitulation. Expect a bottom on Monday.

No extreme $VIX. No extreme $NYMO. We don’t have capitulation conditions, but we still have all of the reasons for why the market is in the bottom zone as outlined going into the week. That’s all still very much in play.

Another big intraday reversal piles on further evidence that the correction is nearing its end.

Market continues to rally off of deeply oversold territory. Strong evidence points toward this oversold rally going further than previous ones seen in early March.