Updates for Friday 8/21/20

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Below is a time-delayed excerpt from our live updates for members.

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Updates 3:50 PM EST - Friday 8/21/20
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Updates 2:18 PM EST - Friday 8/21/20
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Updates 10:02 AM EST - Friday 8/21/20

Short Term
Both $VIX $VXN appear to have finished their morning tests of their upper channel edges.   They are likely to drop down into the lower zones of their channels now.

This means $SPX $NDX are likely to climb higher from here.  

Updates 9:43 AM EST - Friday 8/21/20

Short Term
Both $VIX $VXN are likely to retest the upper edge of their channels again this morning.   

• $VIX to retest 24.5
• $VXN to retest 30

If $VIX $VXN don't exceed these upper edges, those are low-risk places to enter long positions based on $SPX $NDX.

Updates 9:19 AM EST - Friday 8/21/20

Short Term
Overnight $VIX tagged its upper channel edge.   As we discussed, that's a bullish setup for $SPX $NDX.

IWM is likely to rise a bit today too, but it is continuing a steady march down.  This bearish divergence is an advanced bearish warning, consistent with the advanced bearish warnings issued by market internals.   

Again, keep this in mind for the big picture, but focus on trading the short-term swings.  It looks like for $SPX $NDX, their up swings aren't quite done yet for today.   They are likely to climb a bit higher.

Updates 12:00 AM EST - Friday 8/21/20
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