An Update On The VIX - 3/25/19

TL;DR

Dale Pinkert analyzes short-term charts, predicting a potential sell-off in the stock market and a breakout in crude oil, while also highlighting the negative response of the bank sector to the Fed's interest rate move.

Transcript

hi traders its Dale Pinkert Twitter handle that Forex stop hunter I'm gonna start with some shorter term charts I want to start off with US dollar yen as you know I've been talking about correction in an ongoing bull market all the way back to when we were trading above 112 and my targets were the 110 80 level then eventually 109 40 this is close e... Read More

Key Insights

• 🎞️ Dale Pinkert predicts a potential sell-off in the stock market and advises caution, waiting for a bounce to sell rips.
• ☠️ He emphasizes the negative response of the bank sector to the Fed's interest rate change.
• 😮 Pinkert analyzes the crude oil market, pointing out a rising wedge pattern and potential rally opportunities.
• 🫰 Divergences in various market indexes, such as the Nasdaq, S&P 500, and Russell, indicate possible market weakness.
• 🛀 The VIX chart shows resilient relative strength, suggesting a leaning towards risk-off sentiment.
• 🚾 Pinkert suggests potential shorting opportunities in crude oil and cautions against the VIX closing back under 14.50.
• 🉐 He encourages traders to consider not only their trading gains but also their overall blessings.

Questions & Answers

Q: What is Dale Pinkert's analysis of the US dollar yen pair?

Dale Pinkert highlights an ongoing correction in the pair, with targets at 110.80 and eventually 109.40. He advises against stepping in front of a falling knife, waiting for a potential sell-off in the market.

Q: What does Pinkert expect from the market due to the Mueller report?

Pinkert anticipates some relief in the market following the Mueller report, hoping for a bounce to sell rips into in the stock indexes and crude oil. However, he maintains a cautious approach due to various market divergences.

Q: How does Pinkert analyze the crude oil market?

Pinkert observes a rising wedge pattern in West Texas - crude, with a new high at the $60 level. He suggests waiting for a rally back to the confluence level before considering recommitment. A move towards $60.50 is possible if the stock market makes new highs.

Q: How did the bank sector respond to the Fed's interest rate move?

Pinkert notes that the move in interest rates by the Fed was not favored by the bank sector. He advises looking at charts of the Bank index and bearish ETFs like FAZ to understand the negative response of the sector.

Summary & Key Takeaways

• Dale Pinkert discusses the ongoing correction in the US dollar yen pair, with targets at 110.80 and eventually 109.40.

• He anticipates a sell-off in the market, potentially accelerated by the news of the Mueller report, hoping for a bounce to sell rips into in the stock indexes and crude oil.

• Pinkert points out divergences in the Nasdaq, S&P 500, and Russell, while also emphasizing the negative reaction of the bank sector to the Fed's interest rate change.