Nas 100 Is making higher highs and the RSI is double topping as in the last correction .
This is the most stretched we have been from the 200 MA in the whole bull Run and we are apparently entering a santa rally at these stretched levels ?
When i look at the vxx chart i see that every index correction VXX was at the end of a descending channel and broke out as we were seeing bullish diversion on VXX and Bearish on indexes which we are seeing now .
Right at The end of each channel when all technicals were set and DSI was at high levels for Nasdaq and at Extreme lows for VXX We had negative news released about trade deal and tariffs , coincidence ?
It will be interesting to see if we see negative news at the end of this descending channel .
This is the most stretched we have been from the 200 MA in the whole bull Run and we are apparently entering a santa rally at these stretched levels ?
When i look at the vxx chart i see that every index correction VXX was at the end of a descending channel and broke out as we were seeing bullish diversion on VXX and Bearish on indexes which we are seeing now .
Right at The end of each channel when all technicals were set and DSI was at high levels for Nasdaq and at Extreme lows for VXX We had negative news released about trade deal and tariffs , coincidence ?
It will be interesting to see if we see negative news at the end of this descending channel .