Good morning traders!
Our 20 days average keeped it's up trend with relatively the same strenght as last night. VIX on the other hand, went higher, which accounts for the expected fall we had overnight.
Market went down as expected, after balancing a little bit up there, and is currently fighting the resistance encountered at the VPOC. I belive we will be able to get ttough this, and reach the high of the previous value area. fromn there we have two posibilities, we either bounce, or keep going down, I belive there is more chance of bouncing, unless we get some news that get the market upset. Of course we can alway be rejected right here at the VPOC, but that is a smaller chance of that, than the cahcne to reach the Value High of previous area. I'll be long at the bottm 3887.50. Wrong at 3868.75. TP 3927.
Our 20 days average keeped it's up trend with relatively the same strenght as last night. VIX on the other hand, went higher, which accounts for the expected fall we had overnight.
Market went down as expected, after balancing a little bit up there, and is currently fighting the resistance encountered at the VPOC. I belive we will be able to get ttough this, and reach the high of the previous value area. fromn there we have two posibilities, we either bounce, or keep going down, I belive there is more chance of bouncing, unless we get some news that get the market upset. Of course we can alway be rejected right here at the VPOC, but that is a smaller chance of that, than the cahcne to reach the Value High of previous area. I'll be long at the bottm 3887.50. Wrong at 3868.75. TP 3927.