Good afternoon trader!
Here is the state of the market for today:
20 days trend: Up, getting weaker than yesterday, but still pretty strong.
VIX: 18.7, the mounting of the VIX is very consistent with the drop in the markets... further movements may be tell us about a posible recuperation or fall of the market.
Market:
After the fall and rebalance of yesterday, the market decided to keep trending lower for the day, reaching a new local low. We sill do not have a confirmation of a VA forming on our current position, but we might see it in the next few hours, is either that or a suden movement up or down. From here, the most likely three scenarios are:
1.-The market trend down, kicks the weak hands from the market, and comes back, starting to trend up.
2.-The market trends up directly from our current position, letting, but with less strenght than in the previous case scenario. it gets rejected sooner, and keeps trending up.
3.-We fall lower, and reach a new local lower.
At this time, I'm willing to go long if we reach 4104.75. Wrong at 4080.75. TP at 4147.
Here is the state of the market for today:
20 days trend: Up, getting weaker than yesterday, but still pretty strong.
VIX: 18.7, the mounting of the VIX is very consistent with the drop in the markets... further movements may be tell us about a posible recuperation or fall of the market.
Market:
After the fall and rebalance of yesterday, the market decided to keep trending lower for the day, reaching a new local low. We sill do not have a confirmation of a VA forming on our current position, but we might see it in the next few hours, is either that or a suden movement up or down. From here, the most likely three scenarios are:
1.-The market trend down, kicks the weak hands from the market, and comes back, starting to trend up.
2.-The market trends up directly from our current position, letting, but with less strenght than in the previous case scenario. it gets rejected sooner, and keeps trending up.
3.-We fall lower, and reach a new local lower.
At this time, I'm willing to go long if we reach 4104.75. Wrong at 4080.75. TP at 4147.