ES Journal - 2014

There is this gap @67 that's needs filled sooner rather than later.

If that gap is filled this am, today will look a lot like yesterday.

I see that as a template to stay wary of
 
If I had to guess, I would say yesterday was more a distribution day more so than shorts starting new positions. Any shorts that did start positions were probably squeezed out on yesterday afternoons move.

The problem then is, that a 10 point gap up today doesn't leave room for a short squeeze, while longs are afraid to enter as we are near all time highs. Historically, the 3rd, but rather 4th test near a high (on a daily chart)produces a strong breakout near the open.

So where are we right now ? Lots of uncertainty. People unwilling to pull the trigger, and no fear or greed. Minimal opportunity.......choose your positions wisely. Don't give up yesterday's profits trying to eek out a point or two in this crap! Staying flat is sometimes your best friend.
 
EsKiller said:
If I had to guess, I would say yesterday was more a distribution day more so than shorts starting new positions. Any shorts that did start positions were probably squeezed out on yesterday afternoons move.

The problem then is, that a 10 point gap up today doesn't leave room for a short squeeze, while longs are afraid to enter as we are near all time highs. Historically, the 3rd, but rather 4th test near a high (on a daily chart)produces a strong breakout near the open.

So where are we right now ? Lots of uncertainty. People unwilling to pull the trigger, and no fear or greed. Minimal opportunity.......choose your positions wisely. Don't give up yesterday's profits trying to eek out a point or two in this crap! Staying flat is sometimes your best friend.
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nice analysis:cool:

no cascading selloff but a quiet walkdown here, so stealthy almost won't notice:D
 
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