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Would be ultimate mindf**k if this rally above 4200 from here. Unlikely, of course, but who knows anything, right? :)

Might be the best the market can do post QE. :) Lost steam up here for sure, but after yesterday's big move I don't think it should be a big surprise. Should be interesting to see where this closes. I would bet above 80, but I wouldn't be surprised if this rolls over and makes a new LOD...

It's possible that the powers that be will want to settle ES in the 4150 range for options expiration tomorrow. That could be putting some downwards pressure on this. Maybe some hedging take place here. What do I know...

Stopped at the 50 % Level to the tick for now. Some volume coming into the market on this drop. If 79/82 holds - assuming a test of the HOD and possibly higher is still possible by the Close. Selling off here for a move back down to 4150 wouldn't be a total surprise, though.

Flat at 88.50. Trailing stop. Overall a good day, but I was hoping it would be a great day and may have gotten too greedy not trailing aggressively enough on that last push. This initial drop off 4200 could easily just be some hedging taking place. Let's see where the day closes, but my hunch...

Another 10 point PB off the highs. The good old R10 rule still in effect. :) I can see this pull back all the way to 4180 before a new push higher, but I'm not going to risk holding through that. Happy to hold long below this last swing low, though. Probably tighten it up a bit on/if the next...

What's your view?

Near vertical rise on NQ. Not too shabby ES, either. Maybe word come out that the debt ceiling issue will be resolved? I've no idea, but this is clearly ripping on both ES/NQ.

Been a while since we had a 2 % day up on ES. 6th of January this year. 1% up = 4214. 2% up = 4255. Coming up at 4200 now. I think we keep going.

Ballsy. :) Swing trade or day trade? Is that double top your trade rationale or do you have something else supporting this?

10 point pullback, but I'll say it's still a trend day for now. Moved my stop on that PB, but putting it back at 85 for now and will not move it lower one more time. Let's see if there's enough strength to move to 4200 from here or not. I have some confidence we'll at least come close to 4200...

Did FED just announce they're re-starting QE or what...? :) Took me a few attempts with multiple small stop-outs this morning, but finally got a good entry and added a few on the way. Looks a bit overdone here, so watching closely for an exit now. Would be fun if we blow above 4200.

NQ coming into that swing high from August 16. Does not look like it's stopping there. I'm not counting profits yet, but if ES can break above yesterday's high and keep running, what's to stop us from 4200 today...?

ES stalled at last week's high for now. Long bias for me still as long as the day low holds.

Range low held on ES for now. NQ ripping to new yearly highs and closing in on that prior swing high. ES filled yesterday's gap now. Let's see if we keep ripping past that and take out yesterday's high now... :) I feel fairly confident we'll at least have a pop above 79. The uncertain part is...

Might have been what spooked the markets pre-market:

Stopped out. Maybe the ETH highs was a beautiful short entry for a larger swing? Waiting for the RTH Open now. My mind is a bit locked down on the bull scenario with continuation, but have to keep in mind that the mean reversion trade for a move lower seems just as likely. And we pulled back a...

Pulled back to yesterday's Close here pre-market. For some context, last week's high was 4169,50 which we broke above and closed successfully above yesterday in RTH. I'll be looking for the 65/70 area to hold on the Open. If we hit a bid on the Open I'm assuming continuation with the...

Mean reversion seems likely, but what if today is the day we actually have a successful breakout of 4200? I'm sure that'll have a few people caught by surprise.

Feel free to let us know when you decide... :) Personally, and that's just me, I'd rather wait to see what happens around a key level instead of making a decision in advance. So, for NQ, that means I can see we're in a potential sell zone, but I'd wait to actually see if there will be a...