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Shorted 81.75. Stop at 90.

This comment requires elaboration. :) The algo? Just checking in after a few hours of sleep. Looks like it stalled after that 5300 push and failed breakout of that level. My hypothesis still looking attractive to me, i.e. back down to 5200 or more. Let's see what the London Open does.

BREAKING OUT. Congratulations @schizo and other longs. :) I even took one myself on this push. Still think that pullback lower can come, but hard to say when it tops out. Could have been it on this push above 5300.

Maybe I'm getting reminded of my early days as a permabear. ;) I just 'know' that a day like today usually see a test of the lows or at least the close before higher the next day, so I do think this is just an initial leg higher before lower again. In other words, I don't think this gaps up...

You guys are crazy. :) Putting stop at 77 and a limit buy at 5205. + 23 points in two hours. Not very impressive all things considered. It's possible this overshoots and stop me out before turning, but I'd be mildly surprised if we don't at least test 5219 in RTH tomorrow before any move...

6 point loss on my baby short. Re-shorted 71.25. I may get rekted here. EDIT: Giving it a 5 point stop. It's only 5 micros, so no real harm done.

Shorted 64. 6 point stop. If it blows past this area we might just squeeze to 5300 straight way. I have some confidence in a deeper pullback before the RTH Open, but hard to know how high it goes first.

Stopped out B/E. Will take another short in this area or a bit higher. Targeting 5200/5180 or more by tomorrow's RTH Open.

USD/JPY looks like it's on the move.

Upside momentum fizzled out. Moving stop to B/E. I'll be around for a bit to monitor and look for re-entries if stopped. Timewise, I suspected I was a bit too early, but doesn't look too shabby now.

Slow market, so okay. Shorted 65 with a 6 point stop. Baby size. Will leg in a bit more if it drops. I'd like a drop to 5200 by tomorrow's RTH Open, but I suspect I may be too early.

We were promised a crazy bullish first day of the month, too. It was literally in the bank. Market sold off 2 % instead. It's not that long ago you said the market will never sell off again and there's been a lot of other outrageous claims, too. Everyone knows that a big rally will eventually...

Direction is higher for now. Still think this fizzles out for a deeper pullback in the next few hours. Soaring inflation and higher rates, I believe...? Overnight limit is 7 %.

A short overnight for a test of the lows looks like a sexy trade to me. Too wild of an environment to be posting trades, but that's what I'll be looking for tonight. Wouldn't mind if it pushes a bit higher first making it even more juicy. I think any big relief rally will have to wait until...

So, ES closed down 2.92 % today with the prior close also being down. And going as low as 4.28 % on the day. The last time we saw something 'similar' was in 2022. Before that we need to go back to the corona plunge in 2020. If these statistics mean anything, tomorrow favors a green close, but...

Could be. I shorted 5212 on that 15:38 spike with 1000 contracts, though. ;) Holding for the dump.

I'm just 'guessing' at this point and not taking any trades, but this 'looks' like a dump into the Close. Wrong around 5225.

FWIW, the major correction in 2022 went as low as 27 % from all time highs. The correction from August/October was around 20 % from the prior swing high. SPX. Who the f''k knows at this point. :)

Curious. How do you arrive at the conclusion that this is an 'algo driven sell-off geared to scare the weak hands'? Personally, I've always thought that the type of selling we've seen lately and culiminating today must be driven by something more fundamental than merely algorithms. There must...