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Apex, question if I may: You posted two charts showing the 78.6% zone. One was of the $SPX showing the zone around 1413. The other was of the ESZ showing the zone around 1425. Seems like a bigger difference than accounted for by the time premium. Are those the correct figures?

Well, nuts. Stopped out of my small short from 1439.50 at 1438.00 for the munificent profit of +1.5. I should'a been watching reruns on TV instead. :(

Hehehe. Cutting close to the bone with that one. :D We still in the channel and on target, Chris?

Possible downside breakout here from ascending triangle (wedge).

Beautiful bounce off of 1440.75 50% retracement level. Short from 1439.50, small, close stop.

Sometimes by exercising extreme patience. Sometimes not. :)

The past hour has all the earmarks of a bear flag: steady plodding advance on very low volume. I'm on the lookout for a downside breakout, but hopefully not until we get to somewhere between 1438 and 1441.

Feels to me like you're committing one of my favorite sins on days like this: overtrading. It takes iron will to sit on the sidelines patiently waiting for that perfect setup. Apex is the master at this; I still succumb to my destructive urges to jump in. For the past 45 minutes, ES has been...

Stopped out at 1436.00 for +1.5. :( This decline is looking tired. Needs a pause to refresh. I'm thinking it might retrace to 1440 before resuming. That would be both a 50% retracement and coincident with resistance.

Out 1/2 at 1433.00 for +6.75. Holding other 1/2 short from 1437.50. EDIT: Attempted to add on at 1434.50 but didn't get filled.

Belatedly adding on short at 1437.50 (not my best entry). Sure looks like a lot of air below here to 1430 or below. Hope I'm right about that.

Short from 1439.75, small, close stop.

Remaining short hit trailing stop at 1442.25 for +1.75. Total for this trade was +8.5. Now flat.

Added to short at 1444.00. EDIT: Closed out 1/2 at 1440.25 for +7.25. Holding other half short. EDIT: CORRECTION: Fill price was 1440.75 for +6.75. Sorry.

Short from 1447.50, small, close stop.

An "ultrashort" or "double short" ETF is one that tracks -200% (that's a minus sign) of the underlying index, so it moves in the opposite direction with as the underlying index with twice the volatility. For example, SDS tracks -200% of the $SPX, so if the $SPX goes down by 3% then SDS goes...

For those who care, I just liquidated my holdings in QID (double-short NASDAQ ETF) for a lovely profit in my IRA. Decided to carry my SDS (double-short S&P 500 ETF) over the weekend--it's up huge, and I like its price action a lot better than QID. SDS made a new high today. QID didn't.

Same to you, my friend. We both deserve a few days off! :)

It frankly amazes me how you're able to follow and trade so many markets simultaneously. Of course, you've got a few years of trading on me, so maybe it's something that comes with time. I'm exhausted just trading ES on days like this (and especially yesterday). Exhausted and exhilarated.

Excellent choice!