Good morning traders!
20 days trend still up, and same solidity than last night, the VIX rose a little bit from last night, making the saml fall in prices for the night a confirmed "attack" of the sellers.
We are currently trading in-between the strange VA that has formed over this week. Since we got rejected on the unfair lows of this area, I will say we are heading higher next, but the change in options levels over night makes me doubt this, it makes me belive we might get a reversal from here, in any case, I don't see this reversal happening before we got to the unfair highs of the area, we might even trade a little bit up there, show some acceptance before we got rejected, or keep walking up the ladder from there. The market finally will do as it pleases, so for now, I'm lowering my TP from last night from 3840 to 3831. I'm willing to go short if I see a rejection in the uper area of this value. Short from 3904, wrong at 3911, TP at 3880.
20 days trend still up, and same solidity than last night, the VIX rose a little bit from last night, making the saml fall in prices for the night a confirmed "attack" of the sellers.
We are currently trading in-between the strange VA that has formed over this week. Since we got rejected on the unfair lows of this area, I will say we are heading higher next, but the change in options levels over night makes me doubt this, it makes me belive we might get a reversal from here, in any case, I don't see this reversal happening before we got to the unfair highs of the area, we might even trade a little bit up there, show some acceptance before we got rejected, or keep walking up the ladder from there. The market finally will do as it pleases, so for now, I'm lowering my TP from last night from 3840 to 3831. I'm willing to go short if I see a rejection in the uper area of this value. Short from 3904, wrong at 3911, TP at 3880.