I am looking at this daily chart of VANGUARD VSO ETF by applying Wyckoff Analysis. Please visit Vanguard website for further information in regards to this instrument. if you wish.
There is strength with the small caps index in our market if we look at the XSO ( Small Ordinaries Index ). XSO and VSO are pretty much copy cat of each other in regards to their technicals. PPT may also have similar behaviour as far as it’s technicals are concerned.
With VSO, we have seen the scout boy revisiting the creek twice and reaffirming it’s importance as SUPPORT ( marked as Must Hold Level).Close above the level marked with SOS ( Sign of Strength) on the other hand would be considered very bullish if and when happens with VSO.
In summary I would want to see the $42 hold as support as well as close above $45 which would strengthen the case for a further BULLISH BIAS.
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