After-market, Monday, February 8, 2021
Good afternoon traders!
The market has started to go into a clear trend-up for the past 20 days, and the VIX is being trending for the past couple of days, that is showing how we managed to recover a little of stability.
After trading all day in a thight range between 3890-3900, we have pushed higher. Looking at the volume profile, we can notice that the market has done a good job liking this previous area, leaving us with a good ledge of volume. Now it shows us what may be the acceptance of a new upper area. This could mean we are looking to expand higher, or maybe we come back and fill the void in-between those two distributions. In any case, I won't advise to go against the trende here, I feel that if we go lower than 3875, the buyers will be in trouble in this set up. Looking to go long at 3890 area, with TP at 3900 area.
The market has started to go into a clear trend-up for the past 20 days, and the VIX is being trending for the past couple of days, that is showing how we managed to recover a little of stability.
After trading all day in a thight range between 3890-3900, we have pushed higher. Looking at the volume profile, we can notice that the market has done a good job liking this previous area, leaving us with a good ledge of volume. Now it shows us what may be the acceptance of a new upper area. This could mean we are looking to expand higher, or maybe we come back and fill the void in-between those two distributions. In any case, I won't advise to go against the trende here, I feel that if we go lower than 3875, the buyers will be in trouble in this set up. Looking to go long at 3890 area, with TP at 3900 area.