A question, Samsh. Today we've dropped to the last target, but it hasn't gone below it yet; it remains above 5988. However, the VIX has been above 18.18 all morning. What can we expect in a situation like this? Thanks.
The 5988 level can act as a magnet with the VIX holding above its resistance. It's a tricky situation. Sellers would like to see a break below 5988 while the VIX continues to hold above resistance — a setup that can lead to further weakness and shouldn't be faded unless 5988 is reclaimed. Buyers, on the other hand, would prefer to see the VIX drop back below its resistance, which would create a safer environment for dip buyers.
At the moment, we essentially have a divergence — price is holding up, but the elevated VIX has the potential for weakness. The big caveat today, of course, is the upcoming PPI data release.
Appreciate you my friend! Love reading your thoughts!
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Thank you as always!
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A question, Samsh. Today we've dropped to the last target, but it hasn't gone below it yet; it remains above 5988. However, the VIX has been above 18.18 all morning. What can we expect in a situation like this? Thanks.
The 5988 level can act as a magnet with the VIX holding above its resistance. It's a tricky situation. Sellers would like to see a break below 5988 while the VIX continues to hold above resistance — a setup that can lead to further weakness and shouldn't be faded unless 5988 is reclaimed. Buyers, on the other hand, would prefer to see the VIX drop back below its resistance, which would create a safer environment for dip buyers.
At the moment, we essentially have a divergence — price is holding up, but the elevated VIX has the potential for weakness. The big caveat today, of course, is the upcoming PPI data release.
Thk s Smash🙏🏻. So, waiting for now🤙🏻🤙🏻
See how pivotal 6034 is for today people!
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Thank you Lito!
Thank you very much!
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