whether we blow through this vwap and smash though the sss supple zone, or pull back to retest sssma and trama, it looks like the upper nadaraya watson envelope gets touched again. im waiting on another sell signal from that strategy. it seems like theres this scenario where the vix gaps up and takes off, but more measured and muted drawdown has been the norm for...
vix and vix products are selling off outside upper envelope. if we remain in a daily uptrend there could be room to jump back in but my guess is the market is bouncing for now.
either we hit this weekly sss demand zone and bounce, or we blow through it and make new lows. we are at bottom of envelope, and it appears to be turning. if sss signal stays red and we break 362.17 i thikk were in for 350.77 if not much lower around 320. if we bounce off that 363 level, and we get over the 377 range ithink were in for 396 maybe 405. horizontals...
if we ride the top of this envelope higher we could visit 201, if we reject from those levels and drop further btcusd is still in a bear trend.
i wont be surprised if the greenback looses steam around the top of this envelope and revisits trama, bounces to form a lower high, and rolls over to form a h&s. the key is getting a sell signal near the top there.
were at the lower end of this nadaraya watson envelope, and it looks like nasdaq is at least going to pull back to SSS moving average or TRAMA. if we get a buy signal near the lows i think price could follow this path.