Trading chart updates - bonds (TLT), VIX and SPY

The SPY chart on hourly bars is showing positive RSI divergence, so the idea of a pullback wave 2 (or "b") up perhaps starting tomorrow through end of this week still looks viable for the S&P500 and equities indices. That would also be consistent with the ChartsEdge weekly cycle chart so it's definitely worth having in mind. [Update: I notice that Andre Gratian also spoke in his weekend update about some disagreement whether the downmove was completed, before expected correction upward - that comment looks prescient now. Check also daily SPY and QQQQ chart, the indicators are saying this may be a test level, so if you are playing it on the short side then be careful.]

On my VIX chart, it can be consistent with those comments regarding the equities indices. I may have to re-draw that upper downtrending line (or we can just use it for now, looking also at the Bollinger Bands and 50 dsma). The TLT chart shows today's day bar doing a nice kissback up to broken trendline and I'm still staying on the fence about the idea of bonds doing one more new high.

That TLT chart remind me, there are some Elliott Wave and other analysts looking for a third wave down in bonds, having counted the initial drop (that we followed here to the horizontal support area) as a first wave down. Well, maybe - as I said about gold in my update on that recently, "anything's possible." I just tilt to the idea that bonds will go a bit higher, and gold will go a bit lower. [PS - and if anyone wonders whether I think TLT's doing a 1-2-3 trend reversal to start trending down, I don't see it as fitting all the parameters of a 1-2-3 trend reversal which is why I haven't mentioned it yet.] I'm open to being proven wrong and will trade accordingly if and when the charts say so.

Speaking of gold, I posted the updating swing trading charts of gold and oil to my UBTNB3 site just now. They'll show up in the feed at right soon, or otherwise just click where indicated at right if you want to go right to it to see what's there.

All I can add for now is, don't get caught up in the idea that gold always has to move against bonds, or that equities always have to move with or against either gold, oil, bonds or whatever. There are times when some of these asset classes move either together or inversely, for legitimate fundamental reasons. There are also times when those relationships change, either for fundamentall reasons or technical trading reasons. (And remember, VIX options expire tomorrow, so even VIX may throw a curve ball right now.) So if you are investing in or trading any of these, keep on as we do, evaluating each chart on its own to make sure we're on the right side of the trade. Be careful out there and happy trading!