Top 5 Weekly Trade Ideas #4 - VX S/R Flip

Big move up for VX after bouncing near 18.40. This is mostly due to some weakness in semis after leaked earnings on ASML. 19.40 will be a key area on VX moving forward. If it goes up there and fails I'd be looking for longs on ES/SPY. If it's able to break above and continue higher, I'll start looking for shorts.

Overall, the range is from 19.40 - 18.40 so I'm looking for the top end of the range to fail or a breakout above if it doesn't hold.

Note

19.40 target hit. That'll be key tomorrow.

Above 19.40 = Bearish ES
Below 19.40 = Bullish ES

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