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8 times since 2008 including yesterday. As such - it's my view that yesterday's late session reversal was a distortion or some kind of insignificant 'news shock' seeing how the markets held up so far overnight. It's possible with one more day of consolidation - but we're going higher by end of...

Reversing to a new low this late in the session is a fairly rare pattern.

It does look heavy, but I stand by my original call of a net positive close on the day. Zooming out a bit - we're still above last week's high and didn't even test yesterday's low. We could very well be seeing a consolidation here before the next push higher. (scratch this if we break the...

I did not. But I've seen things in the past and I know it happens. :)

Please tell.

Target? Current price action is a bit messy, but this looks pretty bullish to me as long as we're holding above 44/46 and even 40 on a new push lower.

We're still in the green for the day after a large day up yesterday. Currently flagging/wedging/consolidating. Just not sure how much upside we can reasonably expect on a day like today. Had my eyes on 60-62 in the event we get an Inside Day. If we can take out yesterday's HOD - maybe 2970...

Thanks. I knew we were in a good support zone there. I might have trailed myself out too soon, though.

Stop @ 50. Risk free trade from here. Will see where the day takes us. Could be an Inside Day. Could take out yesterday's High. Let's see. EDIT: Stopped @ 50 for + 9,0. I'm still thinking higher from here, but it's uncertain. Would be a bit surprised to see us sell-off and make a new LOD from...

They do happen once in a while. Outside days too. But usually not.

Inside Day so far. And a 23,25 point range is way below the recent average. Something's gotta give, right?

Stop @ 42. Locking in one point.

Long 41. Stop @ 37,50. Targeting 2960 or more.

Tough to get a clear view. On one hand - it may seem like a consolidation before another push higher. On the other hand - it seems like we can roll over and sell hard from here. Flat and watching. Still long biased, but definitely seeing the short side too.

Agreed. But if my main bull scenario holds - we shouldn't go that far down. Let's see now.

Powell testifies @ 10:00. Will there be volatility? My best bet for today is that we will trade above yesterday's high and as a minimum print 2970,50. Next target would be 2984 and finally 3000. All that can easily happen today and I feel quite confident we'll close net positive on the day...

Not really. The whole point of adding to a winning trade is that you reduce risk on your initial entries. After a successful breakout and subsequent test of that breakout - you can trail your stop on your 1st entry to breakeven such that your 1st unit is essentially risk-free. I see that I...

I have noticed. Not sure if anything is up other than people getting positioned prior to the Open...? I only day trade RTH, but days like today makes me re-consider and think I should start to enter in ETH too.

I want both big profits and small losses. :) The market is dynamic. You may for example enter long on a breakout, but the evolution of the trade is uncertain. It can be a fake breakout or it can pick up momentum. If the latter, you miss out by not taking your first signal. Let's say price...

I'm flat at 64,75 from my entry at 2923,50. :) Should be interesting to see what tomorrow brings as today in many ways resemble last Monday. Both days were fairly bullish with a breakout of a range and a following reversion back into the range. I was bullish going into this week, but can't...