Futures/Index/Ichimoku: S&P Mini-Futures/SPX: 7-8-07: Turn date

July 9 according to the seasonal charts is a possible turn date.
The seasonal chart for SPY shows it going down on 7/8 for a couple of days.
The seasonal chart for VIX shows the VIX going up from 7/9 to 8/11. From 7/9 to 7/23, you have 7 out of 3 years where the VIX went up. From 7/11 to 8/5 you have 8 out of 2 years where the VIX went up. Therefore, the seasonal show the VIX is going to make a move up between 7/9 and 7/11.


Let’s look at the charts now. Here is the VIX chart. What is interesting is that the Ichimoku system still shows it is bullish.
vix_7_8_07_d_.png
Here is the SPX chart. Price is now right at our blue Gann line. Also, we have gone up .886 from the 6/15. We are at a very key value.
spx_7_8_07_d_.png
I am actually going to short the spx/spy tomorrow.
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About the Author Manesh Patel