Yes, I've said that to myself numerous times...Go back to last week when we bottomed at 1990 area...retracements were next to impossible and 60 min bars (down) would be completely retraced on the next bar...felt like the entire arsenal was unloaded just for that Wednesday close.
Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
Yes, I've said that to myself numerous times...Go back to last week when we bottomed at 1990 area...retracements were next to impossible and 60 min bars (down) would be completely retraced on the next bar...felt like the entire arsenal was unloaded just for that Wednesday close.
LOL, seems like an excercise in futility at this point, your right.
take a stab at EMD, Max...those futures trade in a pretty good range and even with NQ/ES/YM going parabolic, they are still inside this week's range.
I dont like trading instruments i dont know, and should also say i shouldnt even be trading the ES, but this is a classic blow off top at this point, its something i look for on a daily basis in stock charts, ES went up and up and up, so im just thinking to myself, what would i be doing if i was long this whole move today?
In my head im just thinking, it would be almost impossible for me to not sell this gap up if i was a bull coming into today, but the indexes dont seem to respect gravity like stocks do so i wouldnt be surprised if i end up scratching my short today.
LOL, seems like an excercise in futility at this point, your right.
Yea its futile it seems, but downside volatility will come back at some point, the market is playing a game of cat and mouse with the fed. The market is essentially calling the fed's bluff by dumping risky assets and crashing the market each time they threaten to hike, the fed backs off every single time and the cycle repeats itself again. The fed is basically a joke, the market literally owns Janet Yellen.
Yeah i noticed the same thing with the fed, lately the market just starts going up 5 days before the fed, and a couple days after then we slowly consolidate, then go up before the next fed meeting, its just a totally rigged market, all because everyone knows the idea of a rate hike is just a joke.
Moment of truth for the ES, if we take out the highs of that leg, im most likely in trouble, if we keep selling here, its most likely good for atleast a couple hours of selling this morning.
Market doing exactly what i thought it was going to do yesterday, AMZN, and GOOG selling off from the gap up, already made more on those two than the ES could possibly hit me for so at this point im happy.
Market doing exactly what i thought it was going to do yesterday, AMZN, and GOOG selling off from the gap up, already made more on those two than the ES could possibly hit me for so at this point im happy.