Is the triple confirmation setup here?

Over the weekend we were looking for the following setups and price targets:

  • SPX: 2117, price to open and close entirely outside (below) its lower bollinger band
  • NYMO: two consecutive closes outside (below) its lower bollinger band
  • VIX: close above its upper bollinger band

Although we got a rip roaring rally on Monday when price hit SPX2119 (off by only $2 from our ideal price target) the S&P500 came back to that level 3 times now. But, now we can see the following

Price opened and closed entirely outside its lower BB today.

spx-daily-ti

NYMO closed up for the day, while the  NYA was down. It also closed back inside its lower BB, which is a good buy signal. In addition it dipped into our “buy zone level” on Tuesday.

nymo

VIX closed again above its upper BB

vix

Hence, the triple setup we’ve been waiting for is almost here and price has remained in our ideal SPX2140-2110 buy zone. As far as we are concerned this is as good as it gets. Now we need to see these setups come to fruition starting tomorrow.

If not, then SPX2090-2070 is next.

Re-posted in part from our daily update. Please click here to become a premium member too so you get all this info and more first, and have the edge.

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