Pre-market, Friday, May 14, 2021
Updated
Good morning traders!
Here is the recap of the state of the market:
20 Days trend: down, and getting weaker.
VIX: 21.5, the movement down of VIX aligns with the movement up of the market.
Market:
The market kept a uptrend momentum during the night, and is still looking for sellers. We have not yet breached the big Volume bump from the drop we had during the week, so we can expect that if we are having the market fail, will be around there. From here, the most likely scenarios are:
1.-The market gains volume, and gets trough the volume bump, getting us higher.
2.-The market is not able to get higher, and instead, creates a VA aroung the volume bump we have right now.
3.-The market fails completly, and gos back to the previous VA.
I'm looking to go long at 4092
Target at 4124.50
Stop at 4077
Here is the recap of the state of the market:
20 Days trend: down, and getting weaker.
VIX: 21.5, the movement down of VIX aligns with the movement up of the market.
Market:
The market kept a uptrend momentum during the night, and is still looking for sellers. We have not yet breached the big Volume bump from the drop we had during the week, so we can expect that if we are having the market fail, will be around there. From here, the most likely scenarios are:
1.-The market gains volume, and gets trough the volume bump, getting us higher.
2.-The market is not able to get higher, and instead, creates a VA aroung the volume bump we have right now.
3.-The market fails completly, and gos back to the previous VA.
I'm looking to go long at 4092
Target at 4124.50
Stop at 4077
Note
As expected, the Volume bump from previous down was breached, and we managed to go higher. The balance in the uper side occured in between the weo Large Gama levels.
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