Morning Ideas November 13, 2019
Stuck in the middle of this upper balance.
It's a good thing and a bad thing for the longs.
It's good because we aren't rejecting this upper balance, we are still very much in the middle of the balance.
The bad news here is that we can still pull back to the lower end of the balance so if you're long, you may have to sit through some heat.
VPOC from yesterday is above us and this market is likely to be pretty choppy on the open because we are in an area of acceptance.
Refrain from chasing the market in such environments.
It's a good thing and a bad thing for the longs.
It's good because we aren't rejecting this upper balance, we are still very much in the middle of the balance.
The bad news here is that we can still pull back to the lower end of the balance so if you're long, you may have to sit through some heat.
VPOC from yesterday is above us and this market is likely to be pretty choppy on the open because we are in an area of acceptance.
Refrain from chasing the market in such environments.