The VXN has been extremely reliable. The range has expanded with NQ VX.
The same cannot be said for the VX Curve and VIX as it correlates to the ES,
the compression and clear attempts to collar it are evident.
We should anticipate lower Prices for both Today.
Tuesday's NQ/QQQ Put buyers were used and abused once again, buying lows
and having no chance to exit prior to RTH's NYSE open and vertical move off
the pre-market lows from Globex.
We doubt the same Buyers will attempt this again any time soon as they were
simply crushed, abused - their pockets picked, becoming immense fuel after
having gone all-in on the Crash for NQ.
Impatient, and now wrecked on this trade, the DESKs see the entire order book
and use it to their advantage every time, they never miss a beat in collecting
bad retail bets.
And make no mistake that bet was way offside near the Weekly Lower Support
and Trend Line. It was a blind bet with no real awareness as to where Price was,
simply a dart toss on who knows what.
Keeping a close eye on the VIX and VXN as we come into trade today will be extreme
in its importance as the next 24 hours are going to provide a great deal of information
as to whether this can continue or simply roll back over and head to the 200s.
Should Friday provide cover to run higher, things begin to change short term.
Unfortunately, we will not know until the Close of Trading Friday...
SOH here... Patience.
The same cannot be said for the VX Curve and VIX as it correlates to the ES,
the compression and clear attempts to collar it are evident.
We should anticipate lower Prices for both Today.
Tuesday's NQ/QQQ Put buyers were used and abused once again, buying lows
and having no chance to exit prior to RTH's NYSE open and vertical move off
the pre-market lows from Globex.
We doubt the same Buyers will attempt this again any time soon as they were
simply crushed, abused - their pockets picked, becoming immense fuel after
having gone all-in on the Crash for NQ.
Impatient, and now wrecked on this trade, the DESKs see the entire order book
and use it to their advantage every time, they never miss a beat in collecting
bad retail bets.
And make no mistake that bet was way offside near the Weekly Lower Support
and Trend Line. It was a blind bet with no real awareness as to where Price was,
simply a dart toss on who knows what.
Keeping a close eye on the VIX and VXN as we come into trade today will be extreme
in its importance as the next 24 hours are going to provide a great deal of information
as to whether this can continue or simply roll back over and head to the 200s.
Should Friday provide cover to run higher, things begin to change short term.
Unfortunately, we will not know until the Close of Trading Friday...
SOH here... Patience.