Updates for Thursday 5/13/21

Entry/exit signals for SPY QQQ TQQQ IWM SPX NDX based on VIX.
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Updates 2:30 AM EST- Thursday 5/13/21
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​Perspective
Market was not happy about the CPI report on Wednesday morning.  As a result,    $SPX $NDX IWM all dropped sharply, and $VIX $VXN $RVX surged up substantially.

We shared with you yesterday warnings from various indicators:
It appears that $NDX is continuing the process of pulling back, much more so than $SPX and IWM.  There are important indicators sending out highly bearish messages about $NDX.   They confirm that the sell-off may be substantial.

Now we need to determine the potential scope of this major pullback.   Could it be a crash?

Table of Support & Resistance Zones
The S/R table below has been updated.   The green support zone is where this current major pullback may end.   The orange resistance zone is short-term strong resistance level.

Read the rest of this analysis, and get the latest entry/exit signals for SPY QQQ TQQQ IWM SPX NDX based on VIX here.

IWM
IWM weekly chart looks very vulnerable to a major drop.   It may not happen right away, but IWM is now sitting just below its 20-week EMA blue line.   Not finding enough support here may mean IWM eventually dropping down to its 50-week EMA red line near 190.​

Click here for our latest buy targets in Signal Trades.