Good Afternoon,
We had a relatively quiet day in the financial markets, but with the "above average" volatility, we still saw some action in the forex markets.
Overall, I am still to neutral to bearish, knowing the risk is to the upside. As I was talking to a trading buddy, I told him I am not trying to call the direction of the markets from their current levels - I am just looking for really oversold opportunities or to play defense at the right levels.
Here is a look at the "above average" VIX:
Since it was an "inside day" and pretty quiet in the equity markets, let's go right to the forex markets and show the BUFFALO BOUNCE that occurred:
Let's see what happens over the next few days - maybe we get a "false rally" heading into next week's unemployment report which would be just fine by me!
Happy Trading and Be Environmentally Cool
Coach Brian
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