Post-market, Monday, June 7, 2021
Updated
Good afternoon traders!
Here is the recap of the market for this afternoon:
20 Days trend: Up, and quite strong.
VIX: 16.41.
Market
Direction: The market low relative volume shows that we might not be ready to jump to higher ground (but we most likely are seeing a market that will go higher)
For this reason, I'll be betting on going with a horizontal direction for the market on the short term, and take a short from 4230 with target at 4199 (but very likely it will be repositioned in the morning) and a stop at 4250.
Here is the recap of the market for this afternoon:
20 Days trend: Up, and quite strong.
VIX: 16.41.
Market
Direction: The market low relative volume shows that we might not be ready to jump to higher ground (but we most likely are seeing a market that will go higher)
For this reason, I'll be betting on going with a horizontal direction for the market on the short term, and take a short from 4230 with target at 4199 (but very likely it will be repositioned in the morning) and a stop at 4250.
Note
The quick push down on the markets during the night confirms the idea here mentioned last night. this quick push also talks how the market does not like the lower prices any more, and now is likely to push higher.
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