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Short ES from 1536.75, close stop.

Just back, catching up on my ES Journal reading. The short I left 3 hours ago was stopped out for a small loss. I see that we finally "closed the 4:15 gap" by touching 1531.25. Too late in the day to short again, so I'll see y'all tomorrow. The out-of-the-money SPY Nov 150 puts I bought...

Gotta go out for a few hours. Leaving my short on with a close stop. Hope to be back before the close. Good trading, all!

I'm now short ES.

Inded, if you define the gap as the 4:00 SPX close rather than the 4:15 ES close, the gap was closed.

Finally 15-minute reversal bar observed, suggesting that closing the gap is not in the cards. I will now be looking to go short on rallies.

Both express bearish bias. Neither advises to enter now. It's the difference between strategy and tactics.

Don't go now, just as it's dying down.

Did not get 15-min reversal bar, so did not go short. Bulls are impressing me here. They really want to close the gap in the worst way. The 1528.50 zone has been giving them fits, but it looks like they may triumph. Still flat.

Me too. I certainly didn't interpret it as "go short now." Apex always enters on pullbacks or inflection points, never chases.

It wasn't advice, either.

1528.50 zone seems to be holding. I now have reversal bars on the 1-, 3-, and 5-minute charts (but not 15-minute yet).

1528.50 reached. Looking for confirmation of a reversal (or non-confirmation).

Amen, Spec!

I'm flat, looking for a low-risk short entry. The two most logical places I'm looking to enter are: 1. 1528.50, which was strong support yesterday and then turned to strong resistance once penetrated. 2. 1531.25, which was yesterday's close (for a close-the-gap rally before the big fall)...

That wasn't a call. That was an expletive. If you're going to shadow a poster here, you need to learn the difference. :D

Well, it was a decent day of quick in-and-out scalps, but sadly no homeruns. Here's a comparison of ES charts for Monthly, Weekly, Daily, and Hourly. Note the significance of the 1528.50 support level. It doesn't take much imagination to visualize what happens if 1528.50 is breached to...

That does seem to be what happened...

Having trouble breaking through 1532.00 to the upside. I've closed my long and am back on the sidelines. We may just move sideways in a range from 1528.50 to 1532.00 until the close. Those both look like strong levels.

Reversal bar now on 15-min chart, and I am long.