Pre-market, Monday, May 24, 2021
Updated
Good morning traders!
Here ius the recap of the market:
20 Days Trend: Down, getting stronger, the levels of this afternoon and the price action of today will tell if we are really going down.
VIX: 19.9. The continuos declive of the VIX might be a good sign for the longs, but it is something to keep a look at during the day.
Market:
The market had a very fast recovery, and we are now in a VA that overlaps with the one just befor the fall. from here, I see the buyers getting a little in trouble at 4150, our current VPOC, but if we manage to get throug, I see this market climbing to the previous ATH, at 4225.
From here, I'm long at 4175.
Stop at 4150.
Target at 4225.
Here ius the recap of the market:
20 Days Trend: Down, getting stronger, the levels of this afternoon and the price action of today will tell if we are really going down.
VIX: 19.9. The continuos declive of the VIX might be a good sign for the longs, but it is something to keep a look at during the day.
Market:
The market had a very fast recovery, and we are now in a VA that overlaps with the one just befor the fall. from here, I see the buyers getting a little in trouble at 4150, our current VPOC, but if we manage to get throug, I see this market climbing to the previous ATH, at 4225.
From here, I'm long at 4175.
Stop at 4150.
Target at 4225.
Note
Market managed to push higher from the current VA. The VIX started to decline, showing us this movement was for real, and the with this push up day, we now have weaker down trend for the 20 days range. From here it looks like market is doing a short break before climbing higher, like the 6th of May.
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