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I am not saying the wedge won't breakdown, but any bearish ideas has not work well since the beginning of the year unless you have prefect timing or average in like ammo does.

The price action is neutral at the moment in my opinion. Need to break 1373/74 or 1364/63 to have a directional move. In between is just noise.

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At least a day where they don't buy the dip and blast to a new high above today's Globex high of 1373.75. And, possibly have a down day, but so far it looks a range/whipsaw day.

I wish I knew the answer.:)

Right now the picture on the ES is confusing IMO. Was the pre-market a real reversal or is this just another buy the dip opportunity that they grind the ES up all day?

Haha, flat open.

A better question is what kind of trend after a gap up or down. A gap up or down does not necessarily signal the direction for the day. Look at today's gap down. Today was an uptrend day from 15 minutes after the open.

Last week, I thought we would just see a retest of 1370 and quickly reverse. Now, I am not sure, and, I agree, tomorrow may be a key day for the reversal thesis.

Ammo, thanks for your feedback today.

Ammo is obviously much better at adding/reducing than I am.:)

That is correct, but there is obviously an art to adding/reducing before hitting the maximum loss.

I agree, and short trades just get mowed over.:)

You basically add at resistance and reduce at support. I understand the concept, but the key is getting the add/reduce in the correct size before reaching the maximum position size and maximum dollar loss. Thanks.

Thanks for the explanation. Every time try to counter trade lately, I breakeven or take a hit since retracement are very are small. My problem is that I add too quick. Can give me an example of how you add to a trade? Thanks.

From seeing you post your trades, you mainly trade short side. You add to you position as it goes against you. Do you a max excursion point? Just trying to understand how you trade. Counter trend trading does not well in the current market.

I agree, if there is no significant reversal around 1370, then the slow grind up will continue. I am not getting in front of the train before there more evidence of a reversal. So far, I view it as just a possibility if the ES does not blast to another new high and stays above 1370, then some...

I would surprised if the ES rolls over before testing the Sunday night Globex high of 1369.75. Maybe they are trying to suck in more shorts before they pop the ES above 1370 to clear out all the stops before a real reversal occurs. Globex highs/lows eventually get tested during regular trading...

I admit that this slow grind up is not my type environment. I am much better when volatility is higher. Ironically, so far this year all my profits has been on the short side. Go figure!!!!

Going long here for a multiday swing trade is just as nuts as trying to short the ES for more than a few hours. The ES could easily retest/exceed the Sunday night Globex high of 1369.75 by a little before starting a correction on the daily chart. I view the downside higher probability for the...