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You know better than that, Lance. It's only a mistake to short an uptrend market if you lose money doing so. Lots of folks make lots of money making almost strictly countertrend trades. In fact, without countertrend traders, trend-following traders would be out of business. But you knew that...

Y'all have a terrific weekend!

:D :D :D Pretty impressive volume for a Friday. Options week is indeed bizarre.

Okay, fellas, how about finishing up with this retest so we can get on with our regular programming? :)

Gawd, you're SUCH a perfectionist!!! The right shoulder is only two ticks higher than the left one (so far, at least). Prolly just leaning into a crosswind... :) The right shoulder has less conviction (upvolume) than the left one, and a bunch less than the head. That's a promising sign (if...

Here comes the retest.

We'll just keep it our little secret. Mum's the word.

I agree, although the guideline I use is 5,000/min of UpVolume (for tops) or DnVolume (for bottoms). During the regular session, of course, not the Globex after-hours. I've also noticed that the best tops and bottoms often occur on the second consecutive >5M UpVolume or DnVolume spike.

Yes, that's why I decided not to get in when you did: Volume was too low to be the top. I entered right when the volume came in at 2:20pm, although my entrypoint wound up being only 3 ticks higher than yours. Where do you have your stop? Mine is presently 1 tick above HOD but I'm worried...

:D :D :D I have neither the cajones nor the cojones to hold over the weekend. :eek:

S: 1526.75 BS: 158.25 (1.5pts) PT: however low it goes by EOD/EOW (Not sure I have the cajones to carry over the weekend, if it comes to that.)

cfs? :confused:

Whoops, this one stopped me out of my short for a 1.5-pt loss. Looking for another short entry higher. This *is* volatile, isn't it? I think I'm going to take a break here and make myself an omelet. Back in ten.

Apex was your stop hit? Mine was missed by one tick. Still short.

Aren't the consumer sentiment figures due out any minute now?

Minor support zone 1520.00 to 1519.25. If we can get below that, next support is 1516.25 to 1515.50.

As I recall, you weren't oo crazy abou it yesterday, either, as it made a 6-point profit. I'm keeping the faith. The risk/reward is pretty attractive, even if the probability of success isn't the best. Plus, I always like to have the close-the-gap wind at my back during the first trade of the day.

Does anyone else hear that loud sucking noise down at 1515.50 saying "close the gap, close the gap, close the gap..."?

Actually, my thinking was "what would Apex do?" Entry is two ticks below his 1522.00-1523.50 resistance zone, and stop is two ticks above it. PT is based on resistance at 1503.50 (the 5/14 LOD). Of course, I might not be reading Apex's mind correctly this morning, but I'm giving it my best...