Signals & Trading Plan for Monday 6/24/19

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Here is an excerpt from our trading plan.

Surge4 is ending; Dip4 is starting
On Thursday evening 6/20 we wrote about the sharp intraday drops and rises in $VIX $VXN:

“This sharp drop is actually the first in a series of complex moves by $VIX $VXN to build an under-the-hood setup to rise back up.  The move has started on the intraday charts for $VIX $VXN.  We are likely going to see some unpredictable intraday swings by $VIX $VXN over the next few sessions.  But basically, we are going to see them bounce around in these zones:
$VIX:    13.91 - 16.03
$VXN:  18.21 - 20.42
While $VIX $VXN do their funky dance moves up and down in these zones, $SPX $NDX $RUT are likely to keep rising.  And then at some point next week, $VIX $VXN will be ready to spike as Surge4 ends and Dip4 starts for $SPX $NDX $RUT.”

That is pretty much what happened on Friday 6/21. 

And at this point Surge4 is ending for $SPX $NDX $RUT.  We should see Dip4 start Monday or Tuesday.   So let’s take a look at market internals.

Market internals
Volatility:  The most important message from $VIX $VXN is this.  The Up Trend that started on 12/26/18 for $SPX $NDX $RUT is still intact for now, but Surge4 of this Up Trend is ending, and Dip4 is starting.  

On Monday or Tuesday, $VIX $VXN are likely to do one or two intraday swings, and then start to rise steadily up as Dip4 progresses.  $VIX $VXN are likely to run into resistance in these zones:

The rest of this article covers:
Volatility (more)
Market breadth
Trader sentiments
$SPX $NDX $RUT support & resistance zones during Dip4
Trading plan
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