Never underestimate Wall Street.
Although there is a clear break in the Absolute Correlation between
the VXN & NQ as there is in VX as a Complex... one which can easily
be observed... it is irrelevant, as the Trend Itself will re-assert as Price
begins to clear VIX Roll into a settlement next week.
Wall Street is positioning now.
As we continue into a very heavy MAcro Data Week beginning Wednesday
with the FOMC and Jerome and his Minions posting up the Blah Blah and
Yada Yada - Yoda routines... the Smart Money isn't buying it.
We see the NQ's reaction with the VXN substantially lower than Friday's
lower range while Nq's Price is struggling the 50%.
Divergences are very clear and why we maintain the 200SMAs will be tested
and Ultimately Busted - after the Potential for a 200SMA bounce and countertrend.
The Bots are running wild again competing on both TF's - there is a very real
struggle to continue lifting the NQ which is having difficulties...
We are SOH and waiting to see what shakes out.
We have closed our NQ Longs off 703 @ 777.
Although there is a clear break in the Absolute Correlation between
the VXN & NQ as there is in VX as a Complex... one which can easily
be observed... it is irrelevant, as the Trend Itself will re-assert as Price
begins to clear VIX Roll into a settlement next week.
Wall Street is positioning now.
As we continue into a very heavy MAcro Data Week beginning Wednesday
with the FOMC and Jerome and his Minions posting up the Blah Blah and
Yada Yada - Yoda routines... the Smart Money isn't buying it.
We see the NQ's reaction with the VXN substantially lower than Friday's
lower range while Nq's Price is struggling the 50%.
Divergences are very clear and why we maintain the 200SMAs will be tested
and Ultimately Busted - after the Potential for a 200SMA bounce and countertrend.
The Bots are running wild again competing on both TF's - there is a very real
struggle to continue lifting the NQ which is having difficulties...
We are SOH and waiting to see what shakes out.
We have closed our NQ Longs off 703 @ 777.