Updates for Friday May 5, 2023
Updates 6:10 PM ET - Friday 5/5/23
Sold SVIX because...
After hours analysis shows VIX is likely to rise sharply on Mon. We've decided to lock in our SVIX profit and re-enter Monday if SVIX dips substantially again.
Sold full position SVIX at 18.5 after hours. (This alert was shared live on Twitter DM.)
Updates 12:21 PM ET - Friday 5/5/23
Watch out for VIX bouncing
VIX dropped right after the job report. VIX is now below all the EMA lines. It may start to bounce after such a sharp drop. This is why we raised SVIX stop.
Entered SVIX per trading plan
VIX didn't spike up after the job report. Instead it just paused and then started dropping. We scaled into SVIX at the drop. (This alert was shared live on Twitter DM.)
Updates 1:30 AM ET - Friday 5/5/23
Explanation of Indicators
Background info on $VIX, $VVIX, ES, NQ RTY
Key S/R levels
The table below has been fully updated.
VIX rose higher on Thursday on fear of more regional banks collapsing. VIX got close to its 200-day EMA which is currently at 22.
Our indicators are still leaning mildly bullish. So we are projecting that VIX will spike up to test 22 after the job report. Then VIX will likely begin its multi-day descend. VIX may drop as low as 16.6 before it builds a W bottom to surge up again.
What will ES NQ RTY do while VIX drops? They are likely to rise up to retest R1. NQ may find enough bullish momentum to pierce R1, but ES and RTY are likely to run into major resistance at R1.
We may see VIX drop steadily towards 16.6 while ES NQ RTY go sideway around R1 levels.
Our Personal Trade Plan
We want to capture VIX potential drop from 22 down to 16.6 zone. Click here for our buy orders.
The information presented here is our own personal opinion. Consider it as food for thought. We are not offering financial advice. We are not promoting any financial products. We are not registered financial advisers or licensed brokers. We make no guarantee that anything will unfold according to our projections. You are proceeding at your own risk if you follow our trades.
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