Pre-market, Wednesday, May 5, 2021
Good morning traders!
Here is the recap of the state of the market:
20 Days Trend: Up. After the reduction in the direction done by the deep the market took yesterday, we are starting to rebuild our direction in a stgronger sense.
VIX: 18.5. We got a reduction in VIX levels overnight, consistent with the movement up of the market.
Market
After the deep from yesterdays, the market has come back to the scene of the crime, with some bumps along the way, but nothig significant enough to go back. From here, there are a couple of things I would like to see before getting involved in this market:
1.-Market rejects around VPOC of previous area, and goes back to the top of the lower zone, and then come back all the way to the VAH of previous area.
2.-Market goes through the vokume of the previous VA, and gets rejected at the top, and do a tour around the volume bump.
A less likely scenario, with a small chance of happening at this point will be:
3.-The market goes to the bottom of yesterdays deep, and balances around the new lower VA.
For the moment I'll be neutral, and wait to see the development of this market.
Here is the recap of the state of the market:
20 Days Trend: Up. After the reduction in the direction done by the deep the market took yesterday, we are starting to rebuild our direction in a stgronger sense.
VIX: 18.5. We got a reduction in VIX levels overnight, consistent with the movement up of the market.
Market
After the deep from yesterdays, the market has come back to the scene of the crime, with some bumps along the way, but nothig significant enough to go back. From here, there are a couple of things I would like to see before getting involved in this market:
1.-Market rejects around VPOC of previous area, and goes back to the top of the lower zone, and then come back all the way to the VAH of previous area.
2.-Market goes through the vokume of the previous VA, and gets rejected at the top, and do a tour around the volume bump.
A less likely scenario, with a small chance of happening at this point will be:
3.-The market goes to the bottom of yesterdays deep, and balances around the new lower VA.
For the moment I'll be neutral, and wait to see the development of this market.
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