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CheelooTrader
May 24, 2022 8:22 PM

ES! - 200DMA seems to be holding Long

E-mini S&P 500 FuturesCME

Description

  • 3850 held today, which means selling seems to have subsided and price is finding traction.
  • VIX also behaved today and seems to indicate bulls making a comeback. Early but needs to be watched carefully.
  • SNAP news yesterday could have triggered final leg of this downturn, if that's the case, we could see short squeeze in some growth names. Indices will follow.
  • I am long in COIN, NFLX, and a buy order in SHOP at 312 (if it gets there)...will keep these on short leash until the price action improves.
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