Yesterday we got a push down on US equity Indexes and an important VIX increase. I am still lowering the exposure to the long side. Next week might not be as strong as this one. I think that nobody can know with certainty.
Here you can review the updated charts after the close of each business day and you can notice that the weekly candle for the SP500 was negative. The advantage for me to review yesterday’s charts today is that I can create what-if scenarios quickly and know where my thesis is falling. The lack of volume yesterday was important. As well as the lack of volume today.
Most of us know that one day does not make a trend but after a period of consolidation. Bears had an opportunity that is clearly being rejected with today’s price action.