The 10% correction is now behind us, as the market is proving resilient.
All short term technicals are back in the green (daily chart).
What we need now for a full resumption of the previous uptrend is:
- Volume confirmation of the current reversal
- A close above the triangle which I drew on the daily chart
Taking profits on my long volatility position (VXX) for now.
Looking at long trades to play this reversal.
All short term technicals are back in the green (daily chart).
What we need now for a full resumption of the previous uptrend is:
- Volume confirmation of the current reversal
- A close above the triangle which I drew on the daily chart
Taking profits on my long volatility position (VXX) for now.
Looking at long trades to play this reversal.
