We are tracking two key trend models for confirmation of a turn. There are dire ramifications for the market from a reversal down for QQQ and from a reversal up for VXX. As soon as a key level breaks, and/or trend model trading signals are triggered, new charts and recommendations will be posted to this site. Again, timing is wide open, it could happen today, tomorrow, next week or after Labor Day, but based on all measures of momentum and sentiment, it more likely sooner than later. QQQ Hourly The Wave 2 Up channel still in tact, but the S&P 15 minute chart below is developing a bearish wave pattern - five down, followed by three up - that could be the first "tell" that something has changed this week. We should know by close Friday. SPX 15 Minute - five down (i), three up (ii). VXX 180 Minute Still no life in the volatility indices, which is correctly keeping us from prematurely entering on the long side. When the time comes, it will be the beginning of a wild ride, so be patient, but ready. Check the PRO web site on any sustained VXX rally above $22. There will be two separate new volatility trades, a more aggressive shorter-term strategy for this PRO Service, plus an intermediate term trade into the Premium Service. I always split my risk capital in cases like this, half into each strategy.
