Good afternoon traders!
For this afternoon we have an steady 20 days average trend down, with a strong VIX at 28.6.
After something upseted Mr. Market at noon, we broke down the previous VA, and are currently looking for a Value Area, which might be around where we are right now, or we might fall further down and keep the down fall. Personally I think there is a pretty good chance of this market finding some Value at this point, or flushing out, and later coming back to this value, but obviously we always have the nuclear option, where everything keeps falling apart. For the momment I'm looking for a cautious long from 3721.50, TP 3774, wrong at 3676. Will not attemp to say we should have a direction here.
For this afternoon we have an steady 20 days average trend down, with a strong VIX at 28.6.
After something upseted Mr. Market at noon, we broke down the previous VA, and are currently looking for a Value Area, which might be around where we are right now, or we might fall further down and keep the down fall. Personally I think there is a pretty good chance of this market finding some Value at this point, or flushing out, and later coming back to this value, but obviously we always have the nuclear option, where everything keeps falling apart. For the momment I'm looking for a cautious long from 3721.50, TP 3774, wrong at 3676. Will not attemp to say we should have a direction here.