Although there is a clear break in the Absolute Correlation between the VXN & NQ as there is in VX as a Complex... one which can easily be observed... it is irrelevant, as the Trend Itself will re-assert as Price begins to clear VIX Roll into a settlement next week.
Wall Street is positioning now.
As we continue into a very heavy MAcro Data Week beginning Wednesday with the FOMC and Jerome and his Minions posting up the Blah Blah and Yada Yada - Yoda routines... the Smart Money isn't buying it.
We see the NQ's reaction with the VXN substantially lower than Friday's lower range while Nq's Price is struggling the 50%.
Divergences are very clear and why we maintain the 200SMAs will be tested and Ultimately Busted - after the Potential for a 200SMA bounce and countertrend.
The Bots are running wild again competing on both TF's - there is a very real struggle to continue lifting the NQ which is having difficulties...
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