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market is pricing in a poor report.
ES Journal Archive (2006 - 2008)
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market is pricing in a poor report.
no, market will go down irrespective of tomm.. unless the number comes in much stronger then expected. Gut is telling me market is in trouble for a week or so.
just light stuff..waiting for tomm.. will try to do a video of nfp trade....
I'm expecting this move to bottom out at 1414...
the problem with the trade is most everyone knows the news is bad, so the predominant position placement will be on the short side, and insti's have been preventing a break for the shorts to really capitalize on it.
its a cycle of 'entrainment' where the picture is painted for a period of time(days) and then in 1 or 2 days, a sharp rally squeezes those positions.
for the market to make headway to the downside, the predominant positional bias should be on the buyside.
support...
Long at 1456.75 looking for a scalp. RSI was crazy low at the bottom of the bollinger band.
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