Visa has been a market leader all year. No concerns about it getting bought up if there is a pop in the SPY. So attention needs to be on this very volatile time in the market. Expecting there to be some support around 286 on the SPY. Look for that number to line up with the 171 support area for Visa to go long.
These next three days will be important. There's one key thing to look for as to knowing if these last couple days were fractions of the sell off we are going to see shortly, or if it is almost over. That being if we see a strong bounce over the next couple days. (Think mid May) Or if we see a couple days of flattish consolidation where the market can't find it's footing, and boom, down we go. (Both major sell-offs in 2018). Regardless personally I don't think the sell-off is over period, but a 4-5 day long/retrace window could be opening.
171-171.5 is a good entry point on V, but two flattish consolidation days, means a break of the lower channel and likely impulsive sell-off. See how you can recognize the disaster and stop out before it happens? Otherwise, look for a bounce up to 179-180.
*NOT Recommendations, Always do your own analysis before making a trade!**
These next three days will be important. There's one key thing to look for as to knowing if these last couple days were fractions of the sell off we are going to see shortly, or if it is almost over. That being if we see a strong bounce over the next couple days. (Think mid May) Or if we see a couple days of flattish consolidation where the market can't find it's footing, and boom, down we go. (Both major sell-offs in 2018). Regardless personally I don't think the sell-off is over period, but a 4-5 day long/retrace window could be opening.
171-171.5 is a good entry point on V, but two flattish consolidation days, means a break of the lower channel and likely impulsive sell-off. See how you can recognize the disaster and stop out before it happens? Otherwise, look for a bounce up to 179-180.
*NOT Recommendations, Always do your own analysis before making a trade!**