Pre-market, Wednseday, May 19, 2021
Updated
Good morning traders!
Here is the recap of the market:
20 Days trend: Down and strong.
VIX: 25.7.
Market:
The market has managed to come back to its previous values in the lows. We are now dealing with an interesting situation where I see two options, and most likely will depend on what the FOMC minutes say this afternoon:
We might go sideways from here, and try to regain high. Or in the event we get lower than 4040, I might think the market will faill from there.
For now, I'm long at 4060.
Target 4152
Stop 4040
Here is the recap of the market:
20 Days trend: Down and strong.
VIX: 25.7.
Market:
The market has managed to come back to its previous values in the lows. We are now dealing with an interesting situation where I see two options, and most likely will depend on what the FOMC minutes say this afternoon:
We might go sideways from here, and try to regain high. Or in the event we get lower than 4040, I might think the market will faill from there.
For now, I'm long at 4060.
Target 4152
Stop 4040
Note
As we can see now, the market completely rejected the lower prices, Making it look more like it was a flush to the lows. We did had some resistance in the area where there was some volume, but finally the market came through, and back to the point where we fell from value.
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