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This may go as high as 37.25 before turning over...being very patient on scaling in

Current avg cost on 1/3 of full position 2603

Scaling in short 2597 - 2630

Price tested rising wedge support at 85. The more this support is the higher likelihood it breaks

Flat 87 and waiting for RTH open Move was very suspicious overnight as there was no significant news to justify testing last weeks high. I would rather wait for RTH to test overnight high for higher entry and tight stop.

FWIW, that late day selling bounced right off the rising wedge support line. I lightened up some of my 88 short at 78 and have my stop in should it break out to the upside. If it breaks down, I still believe it will move hard and hopefully give me op to add.

Short 88

Frisky Cat posted the chart right after I sent my original post. See it the same exact way he is seeing it.

Broke the latest trend down based on what i follow

VX futures telling a different story. We may very well test last weeks high and maybe poke through but if it fails, watch out below.

A true test of this rising wedge support

Both holding the wedge support premkt...see what happens at RTH open...like u said one day at a time.

Flat the 2580 put for 4.5 pts. Not as good as the underlying but better than a kick in the head.

The rising wedge is still in play with 2600 as strong resistance. If banks disappoint this week, we could be down 2.5-3% in one day.

Thanks for sending that out...seeing it the same way

You will need catalyst such as US gov opening back up with border wall funding and China trade agreement. Keep in mind Q1 earnings starting this week...could also act as catalyst in either direction...with declining volume in ES my bet is still down

Stopped out Friday for 14 pt loss. Bought 2580 put expiring close on Monday for 4 pts in case we get catalyst over the weekend. I see 2600 holding as strong resistance

I believe this rising wedgewill resolve with some increased volatility next week. Let’s see what congress can muster up as a catalyst over the weekend.

I currently don’t have access to computer and pain in the but to post from phone. Look at weekly chart and you will see the level where it acted as support and resistance throughout last year. When I get in front of computer tonight I will send it out.

You were spot on with this!