GAMEPLAN FOR MAY 31,2022
Soy is trying to reach the 430 area level as futures showed strength yesterday. ES touched $4200 seems a great possibility, but we need to see what happens on pre-market as always. Market sentiment can change.
Overall, the main thing to consider is that VIX is at support, and if VIX breaks, that support area market will see a massive jump to 430 areas. If not, then rejection will create a new low as basis points will increase and interest rates. Also, AAPL is on the resistance level of 150 area, which can make a sell-off if it gets rejected and if not, we will see spy 430 with the market remaining green.
Soy is trying to reach the 430 area level as futures showed strength yesterday. ES touched $4200 seems a great possibility, but we need to see what happens on pre-market as always. Market sentiment can change.
Overall, the main thing to consider is that VIX is at support, and if VIX breaks, that support area market will see a massive jump to 430 areas. If not, then rejection will create a new low as basis points will increase and interest rates. Also, AAPL is on the resistance level of 150 area, which can make a sell-off if it gets rejected and if not, we will see spy 430 with the market remaining green.