My previous reply was incorrect. Longs have been accumulating between 74 and 75 for the past couple days. Not when we have traded below 74. When I see this type of action in the ES, it usually precedes a short term top or bottom. In this case, it would be a bottom. Nothing is 100% guaranteed but it does look to me that we are setting up for a move up and buying in the low 74s is a good R/R. IF the people who accumulated longs start bailing, QM would then trade lower. Like I said...I have only been watching the QMs for a few weeks so you guys are the experts here. Just sharing my thoughts.
CL Redux
- Thread starter schizo
- Start date
My previous reply was incorrect. Longs have been accumulating between 74 and 75 for the past couple days. Not when we have traded below 74. When I see this type of action in the ES, it usually precedes a short term top or bottom. In this case, it would be a bottom. Nothing is 100% guaranteed but it does look to me that we are setting up for a move up and buying in the low 74s is a good R/R. IF the people who accumulated longs start bailing, QM would then trade lower. Like I said...I have only been watching the QMs for a few weeks so you guys are the experts here. Just sharing my thoughts.
Anybody want to buy my Mar 75 puts?
WTF happened did the fed raise rates or something?
Quote from usman88:
Exited half lots at 73.20 for 170 tics average profit per lot. Holding rest for 72.75
VERY NICE. The accumulated longs all bailed out as we traded below 73.5 in the QMs.
Yeah, say that twice and you'll get a warm reception at the poorhouse!
Just woke up to find out that I got stopped out. Needless to say, I am little stunned that we could drop so much. But then again, I was bitching about a lack of flush out last week. I guess it's one big confusion at this point. Maybe 70 is the target after all.