Not In The Clear Just Yet... 🚨👀

Taking a look at possibly the 3 most important charts for any trader; VIX, SPX, and USD 🔮

With a massive rebound in equities, crypto, risk assets, we're seeing much chatter that "the bottom is in".

Although we've made some nice trades in this week's pump, we don't think we're in the clear just yet.🥶

You don't have to look too far either.

Looking at the VIX 1W chart. We can see we are approaching a sure-fire support level with a rebound all but guaranteed if you're just looking at the chart.

Line this up with the SPX 1W chart, and you'll see we're approaching significant resistance at the same time.

Combine these two with a bullish trending US dollar, and you have the perfect recipe for another leg down.📉

Now we can certainly push up further. We would almost expect it.

However, to say the "bottom is in" would be naive.

As always, we'll continue to look for intraday setups, but mid to long term we remain bearish.

Stay safe and happy trading!

-TucciNomics
Chief Overlord, AlgoBuddy