The Chop Zone

“An investment in knowledge always pays the best interest.” – Benjamin Franklin
We have been talking about expecting to see the VIX spike into the 13/15+ area before it manages a sub 9 daily close but little did we know that the fight would be concentrated inside the 10 to 9 range. Talk about chop and tight compression… as we have been saying, it’s just a waiting game; who is going to give up first.
On the currency front, as highlighted in recent video outlooks and charts, the focus remains around those 200WMA for most pairs with DXY giving you the best overview of the gravitation pull/pain trade currently in play.
In non 200WMA currency news, we would also start to keep an eye on this very important structural resistance on cable.
On the tech front, despite this aggressive o/n Nasdaq ramp (can’t stop won’t stop), we would still be keeping an eye on NVIDIA today and into the end of the week.
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