Good afternoon traders!
We have now a weakened 20 days trend, that seems to be wanting to tell us it is ready to get out of this patern, but let's see what happens. The VIX did a full U turn at 23, and came back up, leaving us at 24, bellow this morning values, somehow, we can see how the "fear" decreased, and came back up a little bit.
In general, the market went higher, and break free from previouys VA, and bouncing at the top VAL, and comming back to the previous VA, where we finished the day. from here, I can see the market bouncing once more to the VAH, and trying to find some kind of value here, maybe bouncing in the inside of this new VA, before going up. Of course, we always may come back down to test previous areas, or even slide through to the bottom. At this time, I'm long at 3878, looking to reach 3899, and looking carefully at 3870 area, where we can have eiter a quick slide and rejection, or acceptance and fully deep to 3830 area.
We have now a weakened 20 days trend, that seems to be wanting to tell us it is ready to get out of this patern, but let's see what happens. The VIX did a full U turn at 23, and came back up, leaving us at 24, bellow this morning values, somehow, we can see how the "fear" decreased, and came back up a little bit.
In general, the market went higher, and break free from previouys VA, and bouncing at the top VAL, and comming back to the previous VA, where we finished the day. from here, I can see the market bouncing once more to the VAH, and trying to find some kind of value here, maybe bouncing in the inside of this new VA, before going up. Of course, we always may come back down to test previous areas, or even slide through to the bottom. At this time, I'm long at 3878, looking to reach 3899, and looking carefully at 3870 area, where we can have eiter a quick slide and rejection, or acceptance and fully deep to 3830 area.