SPX: 880 to 1075

I find the weekly S&P 500 chart very interesting. We've seen the SPX move from 880 to 1075, nearly 200 points, yet, volatility (VIX) remains the same. What does that mean? It means that traders aren't buying the move up as a change in directions, rather, perhaps this is just a part of the pullback of a bearish market?

Using a high of 1576 and low of 666, 50% retracement is at 1121. We aren't that far from it with the high of 1075. That's less than 50 points away, after a 195 pt move up. The market often likes 50% retracements. Will it here? The other points are 38.2% and 61.8%. It's passed the 38.2%.
This is a daily perspective of the SPX. The darker blue diagonal line is the bigger trend. If it breaks the lighter blue trend line, watch to see if it will fall to the darker, which is around 1000. I find trends very interesting. It's not always 100%, but it does often hold true.

Whether this is a daily, weekly, hourly, minute-by-minute, follow your rules. I have not been following mine, as I go back to review my trades. Instead, it's been more emotional based trading, which isn't good at all. Time to get back to basics.

So, if I were going to place a trade, I'd go short if it breaks the light blue line, and long if it bounces off it going up. My targets up would be first 1075ish, then 1120ish. Targets to the downside would be first in the 1025, then 1000 areas.

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