Tuesday, August 7, 2012

Charts 8-07: Weekly Bollingers

If we don't get more lift this week, we may need to bleed over into next week to make our top.  While that makes sense with August op-ex ahead, it bothers me because a top this week lines up well with a series of bottoms into the next 3 full moons.

Charting weekly candles on the SPX, you can see that in the past we have touched the top Bollinger band every time before putting in a significant top.  The upper band is at 1430, so I'm content to wait for it.

It would be nice if UVXY has a 4-handle by then as well.

5Y SPX weekly

1 comment:

sooner said...

Great Catch! I haven't seen this anywhere else! Keep it up!