I’ve had number price alerts trigger today, all bearish (sell signals) breakdowns plus one bullish (buy signal) on that 60-minute bullish falling wedge pattern that I recently highlighted.
VIX 60m Aug 2nd
As you can’t trade the spot $VIX directly, here’s a 60-minute chart of VXX (S&P 500 VIX short-term futures ETN). VXX likely to run (& potentially scream, if mkt doesn’t like what APPL & AMZN are selling later this week) following this bullish falling wedge breakout. I’ve added some rough targets but always best to align entries & exits on VIX trades with the major stock indices.
VXX 60m Aug 2nd
Based on the 15-minute chart below, /NQ (Nasdaq 100 futures) is likely to have one last hurrah off the 15500ish support before taking that level out with conviction & giving up the ghost. As such, it might be prudent to wait until 15500 is clearly taken out or we get a bounce off this level first before adding to any index shorts or VIX longs.
NQ 15m Aug 8th
/ES (S&P 500 futures) is cracking below its 60-minute uptrend line but could have one last snap-back rally as /NQ is currently testing support.
ES 60m Aug 2nd
Here’s a screenshot of the price alerts that triggered today, many of which were recently highlighted as trade setups. More to follow soon.
Aug 2nd Price Alerts