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ER2 held at 732 while YM moved up 10pts. Then Both came down together back to the +123% fib. YM will bounce, but will it take out the previous high? THe DAX ended near its lows for the day and trended down all day. All longs should be YM, and shorts should be on ER2.

looking to short next high tick unless trend line is violated.

I see a tick short setup. ER2 is best for shorting. YM, ES have more strength. SMH flat.

dia at 50 ma, iwm at 200 ma. dia at 23% retrace, iwm at 38% retrace. daily trend still up. ER2 resistance 733, 736, 740 support 729, 726, 722, 717. SMH resistance 34.70, 35.00 support 34.20, 34.00, 33.60 small/mid caps more bearish. <img...

Well we did just that. Into the after hours. My initial trades for the day should have been held longer. One more chart,,I have to bang this into my head. DIVERGENCES!!!!!

Thanks Romik. I have some work to do on my scalp trades. The holding time is to long, and I let them turn into averaged down losers. I've been trying not to do that, but the divergence I saw between YM and ER2 told me that ER2 was going to bounce with the rest of the indices.

Here is a comparison chart of what would of happened if I went long YM instead of ER2. This is the second time I've made this mistake. I'm still trying to learn how to trade these divergences. I think I've come to the conclusion, if ER2 has bearish divergence, you stay away from long scalps on...

Trade summary= Averaged a loser, #1 mistake. Traded the closing 30min from an impulsive scalp, that went green to red and worse when averaged down. Should have left when I said I was going to. Very mad at myself. I'm really pissed that NQ, ES and YM bounced, but ER2 continued to screw me...

Well, I screwed myself bad. First losing day in 3 weeks. I saw bullish div. and started scalping long on ER2, look at my arrows, that's where I was buying. ER2 kept going down, but YM was bouncing. If I had gone long YM I would have made profit, instead of a huge loss. Also note, I tend to suck...

TICK bullish div. at LOD, currently too afraind to scalp any direction.

No volume on SMH bounce. things still look bearish. ER2 neg div.

guessing YM will close around 11770.

looking for possible long scalps when SMH finds support.

Ym hit 11750, bouncing on -23% fib. SMH still selling off. VIX bullish divergence. Possible long bounce.

3rd wave down complete, we got 50min left of trading, watchout for market reversals.

YM 11755 would be "ledge" for sell stops with targets to 11735. Volume picking up in SMH. Major market index at bottom of trendline.

ER2 at -23% fib, YM at support, TICKs at Lows,,,Wait for retrace if your thinking short.

Here's an update of SOX pattern comparison to last thursday. Who says the markets are random?

TRIN at LOD, TICK may break lower. Possible 3rd wave down short setup.

ER2 still bearish untill we break above 738.7.