Good afternoon traders!
A pretty volatile market, with a coming back to look for the low of the trend. Our current trend is still up, and getting weeker every day taht goes on, VIX has been a little unstable the previous days, getting higher than last wee, which accounts perfectly for the fall we had, so we can say that we are currently on real value of the market, not over-sold, not over bought.
Currently, we are trading just bellow a huge volume area, which in my opinion will make it very hard for the market to push back up, but non the less, this is a possibility. als we could fall back, and even lower than the previous flush, which is very low probability, unless we see some important news in the few next hours that upsets Mr. Market. In my opinion, the most likley scenario, will be we bounce from previous VAL, to current VAL, and then back, may once, or twice, until the market gets the strenght to push trough. I'll be short from 3896. wrong at VPOC (3907), TP at 3867.
A pretty volatile market, with a coming back to look for the low of the trend. Our current trend is still up, and getting weeker every day taht goes on, VIX has been a little unstable the previous days, getting higher than last wee, which accounts perfectly for the fall we had, so we can say that we are currently on real value of the market, not over-sold, not over bought.
Currently, we are trading just bellow a huge volume area, which in my opinion will make it very hard for the market to push back up, but non the less, this is a possibility. als we could fall back, and even lower than the previous flush, which is very low probability, unless we see some important news in the few next hours that upsets Mr. Market. In my opinion, the most likley scenario, will be we bounce from previous VAL, to current VAL, and then back, may once, or twice, until the market gets the strenght to push trough. I'll be short from 3896. wrong at VPOC (3907), TP at 3867.