[Market News 08/08/2024] THE MARKET IS IN A PERIOD OF STRONG VOLATILITY

Some important notes:

– The VN-Index has recovered in the last 2 trading sessions but has not yet erased the bearish candle from August 2, 2024, and theoretically, it is not yet considered a positive pattern. This “recovery” looks more like a dead cat bounce than a strong start to a new sustainable uptrend if we don’t overcome barriers like erasing the red bearish candle from Monday and accompanied by an increase in volume. Given the scale and speed of the decline in the past few days, there is certainly some trapped supply out there. At the very least, we are likely to experience more volatility, which we usually avoid like the plague. Until the market stabilizes and setups begin to appear, we are largely sidelined as observers. These types of trades could last a few days, or a few weeks.
– The return to price increases for the Real Estate group is also a good sign because this group has been continuously declining in recent months. We believe that rotation is necessary at this time.

– However, as shared many times: A market bottom is a process, not a single trading session.

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SOURCE: AAS RESEARCH

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