04/04 Week, page-165

US vix isn't a death spiral but it still closed on the bearish side (only just)
VIX closed lower than where it opened but didn't reflect that on charts (I'm still surprised the US didn't bounce with a move like that. Very suspicious)
It could drop to 19.5 tonight as a result (be careful)
& then spike big again tomo for another market dump

I now have 7415 & 7475 as todays range at the close (7490 is top of channel at the open)
If we repeat yesterday we do 7415 first

There is the support line at 7450 that Bensh mentioned
So if it bounces off that first & then towards 7475 (if it actually breaks through bear fence, then just wow is all I have to say. Haha)
If that support line doesn't hold it'll close at 7415 instead (maybe lower)
I can't see support line holding with that drop in the US (although the ftse seems to also be ignoring the drop)

It would be a good day to reach 7380 & complete the pullback (maybe it'll do that on the open when everyone is trying to guess the bounce)

If the US vix starts dropping so futures are high by the time the US begin to trade, they could squeeze all shorts from last night (as the vix showed it should've done with a bounce last night. But it didn't)

I'm not sure tbh
This doesn't follow the recent market drops/pullbacks
Who knows, we could get 1 of those 3% drop days. Haha

I wouldn't commit to a new position if it isn't going my way
But that's all the key levels I'm watching for today
Same rules with long /short positions based off ema level success & rejection