If we will not turn down here I see another 30 point upside before any significantl retracement (more than price channel width). However top of channel is close, shorts look tradeable even if we continue to upside. Upside breaks of upchannel are very rare.
Danger is that we will stay here...
Hm, magnetism of "big walls" - if we came too close it will be tested.
Therefore I do not see how we can avoid 1050 (200EMA monthly on SPY and motnly DML) but until 980 there are 2 other "big walls" and normally we do not slice more than one easily without getting freefall.
If everybody has...
I have the problem it started yesterday 5th September. I am on IB feed, I am receiving quotes for Nymex but not for Globex futures. It seems to me that problem are just Globex quotes.
Everybody with same problem, which feed you are using instead of IB (free or affordable), eventually to qhich...
Honestly I think it is attempt to kill "long guys" in Oil and secondary EUR. of course it affect ES but now so much. However, GREAT TRADING today, I hope high volatility will continue at least 2-3 days more....
We are above boolinger on daily and on top of channel. Shorting now is very low risk trade. I do not want say that it must starting falling today but my trade will end positive this is extremely probably. Long position can easily end 15-20 handles in red, no way with short.