Short Term Trading Week Starting: 26th Feb, page-208

Interesting swings by DOW. Been underestimating the magnitude of these swings in both upwards and downwards directions...starting to feel a bit more like Bitcoin lols.

Anyways two things I think is key to watch imo
DOW can it find support in that yellow region. If so will bode well.


VIX: Tapped green breakout perfectly, pushed quite quickly off. I assume this will make its way back up as DOW moves into support region. Would like to see the VIX get rejected from old levels.
The combination of this with DOW finding support will be nice ST-MT action.


As for our markets, were looking excellent and very nicely setup. Those three bars, decreasing in spread, nice soft push down after quite a stretched push upwards. I'm assuming DOW will drag the XEC down back somewhere between those two blue horizontal lines below and ruin the setup.
If we can show resilience today will be a great sign but I'm not counting on it.


Just another chart I found on Mark Minervini's Twitter, historically we don't go into recession "crash" (Highlighted in grey) without the leading economic indicators posting a swing, which doesn't look like occurring for this year at least.


Cheers