The lack of initiative sellers after another true gap down attracted responsive activity. The session ended with an upward spike, with a base at 3985, which will be the more aggressive level to observe short-term.
Thank you! It remains to be seen. The breakout singles will play a crucial role in the short-term. The short-covering rallies haven't had any continuation so far, as there hasn't been any new buying interest once the shorts have finished covering. Buyers definitely need to see a shift in that pattern.
Completely agree. It is a stalemate. Looking at earnings (middling) and rates (rising above threshold levels), I do not see any appeal in equities, while liquidity and 0DTE options are keeping markets from plunging.
Very precise analysis as usual. Do you think today's recovery was mostly a vol selling day? VIX and ES charts are literally forming an X if overlaid
Thank you! It remains to be seen. The breakout singles will play a crucial role in the short-term. The short-covering rallies haven't had any continuation so far, as there hasn't been any new buying interest once the shorts have finished covering. Buyers definitely need to see a shift in that pattern.
Completely agree. It is a stalemate. Looking at earnings (middling) and rates (rising above threshold levels), I do not see any appeal in equities, while liquidity and 0DTE options are keeping markets from plunging.
Very informative article! Thank you!
Thank You