Replies to post #132365 on SPDR S&P 500 (SPY)

[keepsinvesting]

No one believed to short the market, this was dumb money week as one of my trading friends told me.. I Actually lost some $$ this week due to geti g stopped out so many times...ridiculous... Xcept today.. Friday and market direction was clear. I wanna say we have a higher chance of bouncing monday due to the indicators in the downturn... Although we might still see a bit more low. I saw alot of bullish divergences on most of the time frames 30min and under... But every bounce was ridiculous.. Lost money there but gain some right before i lost it back again

[risk on]

Attenuated, yes. It's the ratio ( difference) in shorter term puts To calls. The reason for VXX not performing better is most likely EOW, and buying options on Friday for short term , uh, it's a long time Til Monday. Also the drop today probably surprised many given the am jobs report. But, the more honest answer is clearly the sentiment that not that many believe there is a bigger drop coming.

On the chart though, VXX hit a solid wall of proven support on the low 27s / high 26s. If it is going to pop , this is the place to springboard from.

If it pierces those previous lows , it's ugly time for VXX. All logic and tech view says it should fly, as always, we shall see.

On your trend line analysis , I have seen spy break that 50 and 200 multiple times over the past year, then put in a hammer or other doji like candle and pivot. So support lines ( trend lines 200 and 50) ain't as predictable as they used to be IMO