The stock horizon looks clear

Taking into account hedge funds, peace is set on the horizon. The net speculative positions of hedge funds on VIX reached a zero level for the first time since January. After the February hedge-purchase boom, the current reading of the data suggests that the big Wall Street players are expecting a calm stock market development. Here are the specifics:

Let's look at the SP500

Technically, the index made a strong demand for promotion after the triangular formation broke upward with a gauge that was not closed nearly 9 hours after the opening of the futures. In addition, the price also marks a breakthrough in horizontal resistance, already in support. 50 is over 200SMA - positive for the price. RSI 14 remains over 50 - the trend is in place. A deal from current levels gives good input levels and a very good risk ratio of nearly 3 to 1.

SL: 2693.99

Alternative Scenario: If the price goes back below the support area and stays there in several successive bars, the positive scenario will break and more likely to see a decline in US stock prices.

Source: Bloomberg Pro Terminal

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