Hello Everyone,
Quick Notes: Yesterday afternoon we saw the SPX coil into a tight pattern building energy for its next move. Well today that energy was released with a gap and go to the downside (trend day down) with the SPX losing nearly 90 points on the session. The VIX surged higher today out of its 15 minute coil and served as a good barometer all session and once the SPX lost 4100 support it never looked back and dropped down near its 50 day MA. Bloody red day for almost all asset
classes. Then in after hours, Elon Musk tweeted that they would not be accepting Bitcoin for the time being which caused Bitcoin to move sharply lower with many coin stocks being taken to the woodshed after hours (continuing their recent downtrends). On a positive note, both the NYMO and NAMO closed below their respective Bollinger Bands today so trail down stops on your shorts in accordance with your plan.
Please take a moment to look at the trade ideas.
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5/6: SPX DVT = 4107, 2 day candlestick chart 4065