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Good trade, @Buy1Sell2. You demonstrated some flexible thinking as you were originally looking for the market to break down and then you re-assessed and went long. Well done.

Just for reference, equal weight S&P500:

For sure. Bulls and bears can each make their case that they were right!

Here was that 3955 level. Got there quickly!

IMO, ES down to 3955 level would be buy zone on any initial sell-off. If we somehow roll down to 3900, I would back up the truck. Otherwise, just holding my current long positions from last week.

Thanks for sharing. My view remains that momentum and breadth are too strong for much else to matter. And this finally fell in line today:

What is the rationale? Just trying to understand.

I acknowledge we're a little ST overbought but we're not overbought if this is a significant move up.

Peter Borish once said "You can't stop a train with a brick wall." Right now, I view the market as an uptrending train. Pullback tomorrow or not, I expect we'll be higher next week.

So what are chances CPI comes in lower? :sneaky: Then we could really play the probabilities!

Applying @vanzandt logic, the easy thing here seems to be to sell this rally today and be flat going into CPI. So the hard thing to do is to hold long positions.

Can you elaborate why you're not convinced?

Or fight the momentum.

From what I can tell, the market has been acting fairly well here. Very possible that today's early declines were the last good entry point but we shall see. The other side of this is that we're getting overbought in short-term. But if market can still push higher despite that, that will be a...

Market retraced right where it should have. Breadth has been good since last week. Assuming bullish but a close below about 3865 on S&P index would have me re-thinking this.

Love it!

More reason to shop online.

"Stupid Fed!"

Some truth there. In the trading world, this idea of being "consistently profitable" is thrown around. The reality is that no one will know if they are truly consistently profitable until they stop trading for good.

Melchi: I just found this tread. Trading, in general, and trading Fx especially, is challenging. A small % of people ever find their way to profitability over time. The stuff that has worked for me and my approach is something I had to develop over years -- it's unique -- and the way I apply...