This is the VXN at the 4 hour. The VXN found support once again in that green zone of mine.
It shouldn't be that big of a surprise. The P/C ratio for the NQ was at 0.37 this morning. That means there were so many calls from small traders that it was exhausting the supply of buyers. That aggravated the VXN at first.
When the supply of buyers ran out, the sellers came in the afternoon. That's how you can tell that a pullback was coming soon.
Judging by the action, I don't think volatility is done quite yet.
Why? It goes back to my NQ question. What will happen to big tech stocks after earnings when expectations are very, very high?
It shouldn't be that big of a surprise. The P/C ratio for the NQ was at 0.37 this morning. That means there were so many calls from small traders that it was exhausting the supply of buyers. That aggravated the VXN at first.
When the supply of buyers ran out, the sellers came in the afternoon. That's how you can tell that a pullback was coming soon.
Judging by the action, I don't think volatility is done quite yet.
Why? It goes back to my NQ question. What will happen to big tech stocks after earnings when expectations are very, very high?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.