Futures green, ES looks like it wants a gap fill. Two gaps above now, at least one has to fill.
Tricky market to trade, you gotta be on your toes. Paying attention to the gaps really help, I told everyone ES gap up from Sunday needed to be filled, and it did. I was bearish yesterday afternoon and bullish this afternoon. I keep flip flopping because the market is whipsawing....but I was right, and made money off of it. If you like long term one directional trading, I suggest staying out. The market has NOT bottomed yet. This current market is for traders, not investors.
Assuming we get a gap up, my plan is to flip my calls and sit back and watch. Not sure what the market will do after it gaps up. I'll probably wait for indicators to go overbought or oversold.
There may or may not be an update tomorrow morning. Will post if the indicators show anything, I posted this morning because MFI went overbought which meant the market had to go down after open.
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Also if ES breaks the upper channel line then we may be looking at a small rally for a week or two.
Looks like we are reversing back up. Got a feeling and it looks like we will break the channel upwards today. Closed all shorts. GLTA.
BEJLnis
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So you still think it will go up?
BEJLnis
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@maxaus, so you still think it will go up? Doesn’t look like…
maxaus
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@BEJLnis, it is already ))) patience and patience. that's how you earn your $$$. btw, i'm not longing this. overall i'm bearish. I'll wait until this mini rally is over and short it again. possibly around 4050-ish. We'll see. this is a mad mad market.