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Sunday, October 30, 2016 10:32:12 AM
Amateur Investors: Weekend Analysis
* October 29, 2016
The VIX has been exhibiting a potential Triangle pattern the past several weeks as its downward and upward trend lines have been converging. Currently it has risen back to its downward trend line so there are two possible scenarios to watch for in the weeks ahead.
The first scenario would be for the VIX to extend the Triangle for another 4 to 6 weeks as it retests its upward trend line (point A) before breaking out as we move into 2017. If this scenario were to pan out then the S&P 500 would hold support above the 2120 area and potentially make a slightly higher high before the end of the year (points B to C). This would then be followed by a decent correction as we move into 2017 with an eventual drop back to the late June low near the 2000 level (point D)
Overall I still expect at some point the S&P 500 will have a decent correction with the longer term upward trend line being tested which is nearing the 2000 level.
http://www.amateur-investors.com/AII_Weekend_AnalysisOct_29_16.htm
• DiscoverGold
Click on "In reply to", for Authors past commentaries
* October 29, 2016
The VIX has been exhibiting a potential Triangle pattern the past several weeks as its downward and upward trend lines have been converging. Currently it has risen back to its downward trend line so there are two possible scenarios to watch for in the weeks ahead.
The first scenario would be for the VIX to extend the Triangle for another 4 to 6 weeks as it retests its upward trend line (point A) before breaking out as we move into 2017. If this scenario were to pan out then the S&P 500 would hold support above the 2120 area and potentially make a slightly higher high before the end of the year (points B to C). This would then be followed by a decent correction as we move into 2017 with an eventual drop back to the late June low near the 2000 level (point D)
Overall I still expect at some point the S&P 500 will have a decent correction with the longer term upward trend line being tested which is nearing the 2000 level.
http://www.amateur-investors.com/AII_Weekend_AnalysisOct_29_16.htm
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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