Charts 9-27

I got the sense late today that the slight retrace from the rally earlier was not complete, that it would either finish at the close, or early in tomorrow's session.

So I re-checked the economic calendar, and noticed that we have two big news drops early tomorrow during RTH: Chicago PMI and Michigan sentiment.

Here's what I'm proposing: we'll stall flat or drop a couple of points at the open tomorrow, until the PMI number is out.  If it's great, we will rally, and if it's a big miss, we'll rally anyway.  This mood of inevitability will then carry into the top next week.

If the sketch on the SPX chart actually plays out, it will be a wonder if UVXY can stay above $20.  I show the lower Bollinger on the daily VIX to be about 12.66, so if we were to trigger a buy signal on the VIX, we would need to close a candle down there, followed by a candle back above the band.  A move like that would gut what's left of post-split UVXY -- I hope we get it!

This is a terrific podcast of Dmitri Orlov, which I think every collapse observer should hear.  I am also looking forward to his next book.

In the Blogger stats, I notice the steady string of visits from Costa Rica.  Ahoy, Stoney, hope you are well.

SPX 9-27

20 day