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Seller at RUT 65 did not capitulate overnight. I though the banks would carry RUT back through 65 hence my KRE focus. Maybe not. I have RUT 45 if 65 Held Offer.

Big moves in currencies always complicate the US order flow into the Europe equity close at 1030 CT. In that environment the banks and energy often try to go one way while tech and retail try to go the other. So you don't get clean risk on/risk off moves.

Scaled into TF 56.50 Failed Offer as mentioned earlier, last piece offered at 61.30, still negative for day though. But put KRE back on full position with one third off at 39.39 to 39.43 now. Still 40 or better objective by end of week and maybe a little more into Fed meeting.

TF seller is relentless...

Still focused on TF 56.50, trying to scale in for re held.

Exit KRE on TF 56.50 Failed Bid. Wrong side of history for me.

KRE exit then reenter avg price 39.26 again. Partial at 39.44. Europe close taking over now I think. Watching for TF 56.50 Held Bid.

Really feels like they want RUT 50 Touched out of the way here.

Exit TF

Exit second third TF with seller at 58. Rest for 61 or under 56.50. KRE avg price now 39.24, exit if 39.18 retouched before 39.44.

Long TF half size third off for Cash Pivot test in line with Europe Cash negative trend line fail. TF must stay above 56.5 now.

Add KRE must move now to 39.44

Exit TF for news.

TF heavy so short for 0900 ct. Will exit KRE if 39.20 Failed Bid.

KRE add at 39.20 inflection. Europe better, watching for intraday negative trend line test there as catalyst for Cash Pivot tests across the board here.

Scalped TF for Cash Pivot test on opening drive, out now as Europe is not cooperating. Long KRE again, smaller size give worse location with avg price at 39.20, partial at 39.44 and then observe. Exit 39 or add if Held Bid above 39.20 after 0840 CT.

Confluence at SPX 70 that coincides with your next big cleave ammo...

RUT 65 Held Offer infers RUT 50 before 80

Ouch. TF seller at 65 is not giving in. Exiting my second attempt at KRE with 39 retouched. AUDJPY looks ominous, so I wonder if Asia is going to be a problem overnight...

I put KRE back on at 39.06 half size for 40 with partial below 39.50. Bias still RUT 80 by end of week.