The market is posting new high and we are cautions on the levels here â€“ we are still long. As shown in the charts the SP500 itâ€™s at record high with the VIX at a medium range trading around 14.
There is a possibility that we can trade all the way to 1900 where major resistance could appear. Until them and if we donâ€™t break lower levels, we should be ok taking the long side.
VIX (15min and day bars)
GOLD gave back some if it gains but we did not see the expected selloff â€“ for a continuation we would like to see a red bar in the weekly and above all on the montly chart.