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Its not quite had the follow through I was expecting yet. Could still happen.

Thats what I was going for, but it got stuck

Yeah that was strange! I was really expecting that move the other way at that point. Not sure if its a good opportunity to build up on my short or wait for it to go higher now

I use the 12 and 24 EMA mostly. I use them to determine my entry and exit points. For example in a downtrend I will look to open a position just after a bounce down from an MA/resistance level, and then close the position when oversold and too far from an MA. I wouldn't look to open a short...

NQ and ES are both looking a bit oversold on the 4 hourly. I am staying short here, but I can see a move up or sideways until the moving averages catch up a bit, then a continuation down.

Probably this, the moving averages and the trend lines combined help loads.

Those three 1 minute bars really change the hourly and daily patterns now. Makes the last 2 days look more like a retracement than a continuation to the Jan lows

I reckon it could be people getting out of short positions around the amazon earnings.

ES Weekly: ES Daily: Just not sure if I got the fib levels quite right

Arent you staying in for the longer term?

Higher time frames said short and look at that move I just dont understand why it didnt happen sooner

For ES, looks like a bounce down off the weekly 12 EMA and possibly a 0.618 fib level, but trapped by the daily 24 EMA

Looks like a nice NQ bounce down off the daily 24 EMA, but then stuck due to the 4H 12 EMA. On the weekly, looks like the weekly EMAs may have scared off some buyers.

Wouldn't "terrible" jobs numbers support the case for a long? Terrible jobs data might make people think that the Fed would be less likely to raise rates right?

Well the news is probably just released to fit what the big players are doing. So if the market does start to go south again soon, there will be some well timed news ready to help allow the masses to feel slightly more comfortable.

Its an interesting area. The SPX is very close to the 24 EMA and also the September high. I doubt it would happen, but if the Jan lows get broken, the chart looks like a giant head and shoulders.

I think the sellers might be coming back in now. When the price shoots up like that, I reckon its because the sellers are waiting for a level to return

I was expecting way more sellers to come in around the 12 EMA

Down right after i closed