Good afternoon traders!
Here is the recap for the market:
20 Days trend: Up, Strong.
VIX: 15.66. We saw a very interesting movement down that has yet to be matched by the market.
Market:
Direction: Up.
We are seeing a market that was rejected on friday above the VAL level, which means there is some strenght on the buyers side, and maybe we are ready to go to the next thing.
From here, I will like to see the market going higher, but be cautions if we reach the VAL level, buyers are certainly in troubles.
Long from 4232.
Target at 4260
Stop at 4216
Here is the recap for the market:
20 Days trend: Up, Strong.
VIX: 15.66. We saw a very interesting movement down that has yet to be matched by the market.
Market:
Direction: Up.
We are seeing a market that was rejected on friday above the VAL level, which means there is some strenght on the buyers side, and maybe we are ready to go to the next thing.
From here, I will like to see the market going higher, but be cautions if we reach the VAL level, buyers are certainly in troubles.
Long from 4232.
Target at 4260
Stop at 4216
Comment:
We have been seeing a market that is certainly bullish, but not at the speed we got used to see in previous months. Market didn't had the power to push all the way down to the VAL, and afterwards, we saw a new ATH, followed by the correction of this movement, and what seems the creation of a new VAL. at this point, it seems more profitable to stop looking for new ATH, and start to trade this seemingly sideway market from the outside to the inside, always giving more meat to the long side than the short side.