Quote from bsparkyman:
I was wrong, the downside breakout occured on Thursday and followed through today after retrace. Only saving grace for me was a long off the low. Lesson, don't have a bias.. Was short at 12687 on the ym and coverd for 20 pts (12667, right above 12666!) looking to get long even after I saw the breakout, all because of bias.
Or prepare for a huge rally by the end of the week, or we could close the week at 12666, put your bets down and show us a picture your new Lexus on Monday. Todays price action left no clues, swings in each direction off resistance and support and closing exactly where we closed yesterday. If you can produce a statistical analysis of said price action that results in a big selloff by the end of the week then make a trade, go short, buy puts and make some money. I say the breakout range was defined today. I will trade the upside, but tread lightly on the downside.
