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Even on a micro level, seeing the bullish wave patterns. We have met the minimum target for wave 5 so could be getting close to exhaustion in short-term. If you look at my prior chart, this is breaking that entire wave 5 that began this morning into its subwaves. But again, still with...

S&P rallied right into that gap area. I lightened up on some of my positions I have added along the way but still holding some from last week. Still operating under same assumptions, though.

Not exactly. They made a boatload predicting that the market would run up wildly and crash in '87. Basically they figured out that the market was acting like 1929.

Since this is ES thread, here is what I'm seeing. ES testing prior high. My best guess is we push through but stay flexible.

NQ is the one I'm watching now as it is starting to lead. Looks like we could get some continued upward movement but stay flexible. Again, operating with assumptions which could prove to be incorrect. Just trading what I see for now.

Yes - moment of truth here.

What I like about how you think is that you're looking at possible scenarios and not getting locked into a stubborn, biased view. Definitely a professional approach.

Good post! Preparation and flexibility is key here!

Still liking RTY here on the equity futures side. Feels like 1500 level needs to hold there, though.

Fairly strong bearish seasonality today -- that, combined with the ST overbought conditions, seems to be more responsible for the sell-off than the debate. I'm still operating under the assumption that last week's lows may be meaningful. Stay flexible everyone!

Agreed. I really don't think any big money traders are wasting a lot of time worrying about positioning based on the debates. Also, a lot of folks are going to get left behind if last week's lows were it. Just feels like the max pain may be still to the upside. That's my take for now but...

I know this is ES journal, but I like to look at NQ or RTY to figure out what I want to trade and overall market direction. RTY looking more like completion of A-B-C with that 1490 area as support.

Good call. And if just does the opposite of what he feels, he will probably do well. Seriously, try it with a small position.

I hear ya for today. This is one of those days when I try to look at ES, NQ and RTY and see if there is anything that makes for an easy set-up in one of those. Sometimes they all look really different. The best thing I have seen so far was RTY at the 1490 level which I have as support --...

This is called the "Availability Bias." (Overemphasis on most recent data and thinking each tick provides worthwhile new info). We may still have much more to go on the upside in this move off last week's lows but the morning prediction wasn't based on anything but the bias and emotion. Best...

It sounds like you have a good perspective on trading and life. Even on this site, you see folks with issues involving egos, insecurities, etc. I'm not sure why so many folks here have an issue with showing kindness to others but there can be a lot of negativity. Still, there are some good...

Seriously, you just need to figure out what feels like the most uncomfortable trade to take and do it.

Yes -- always surround yourself with good, positive people that encourage you to be the best version of yourself. I have a handful of traders that I periodically chat with (most of whom have access to my trading room) but only one other am I aligned with and actively collaborate with. We trade...

There is a lot of truth here. Seriously.

Rickshaw Man -- I'm a believer with you, brother. Every time I hear someone who says they don't hold overnight I take that to mean that they really don't understand the markets.