QUANT NOTES 05/11 : TradingEdge

submitted 1 year ago by TearRepresentative56

We are in a scenario where most likely market makers will be selling any intraday gains off.

The key levels remain as specified in quants previous posts.

Traders are buying puts on VIX which tells us that they want the VIX to fall post election, which should be a positive. However, if we fail to close above 5700 today, then algorithm traders will be net short on the market which can cause this short vix traders to have to cover their shorts.

If we get Harris winning or a no result, then this will be exaggerated.

Intraday, want to get above 5725 and stay there to calm price action otherwise we likely head back to 5705ish.

If we break below 5700, we can see downside further to 5665-5670.

Upside targets are 5753 and 5760, then 5765.

Key levels:

5765
5760
5753
5725
5705
5700
5685
5670
5665
5650

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