Inverted head and shoulders on the SPX?

As I have noted before......major resting inventory for ES is down at 800.75 to 797's zone, so price will trade to this area soon imo. Hopefully we can test that area by end of day Friday. :cool:
 
We looked ready to crack at one point, now it looks like we'll stab at that 850 again. Is there any chance job numbers won't tank tomorrow? If they do tank, is there any chance the markets won't?
 
Sold several levels up to 847.00 on the first rotation up today with profit target fills down to 842.00. Sold 848.00 and 849.00 on the new high second rotation up today with fills down to 838.00 so far. All 847.00 entries have now been covered and still holding 2/3'rds of my 848.00/849.00 short entries with next profit targets set at 833.00.....828.00......818.00.

I am still holding my remaining 873/874 short entries for last targets at 803.00 and 793.00. Market unable today to break above yesterdays high and was sold again back into the range. :) Jobs number is the big event tomorrow, so in the mean time I keep cycling profits out of the range with all the range rotations.
 
Today I'm only doing daytrades on the Thai market, I don't want to buy near the high of the consolidation range and assume that will move directionally up, and then have jobs numbers move the market directionally down. I don't know if they have the power to do that, but a few bigger traders I watch seem to think they do. I'll be watching from the sidelines. New guys like me get knocked around at times like these.
 
Quote from AMT4SWA:

Sold several levels up to 847.00 on the first rotation up today with profit target fills down to 842.00. Sold 848.00 and 849.00 on the new high second rotation up today with fills down to 838.00 so far. All 847.00 entries have now been covered and still holding 2/3'rds of my 848.00/849.00 short entries with next profit targets set at 833.00.....828.00......818.00.

I am still holding my remaining 873/874 short entries for last targets at 803.00 and 793.00. Market unable today to break above yesterdays high and was sold again back into the range. :) Jobs number is the big event tomorrow, so in the mean time I keep cycling profits out of the range with all the range rotations.
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amt has played this well and has given a very detailed explanation of his trades before the fact(thats refreshing for a change- aint it?).I dont play futures nor have a total understanding of his 'inventory' strategy but thats besides the point as it is working great.Kudos to amt and his patience to hold winners and his conviction.
 
Thanks.....just working whatever the market gives while trading in the range we have been in for several weeks now. Took fills for remaining 848.00/849.00 entries out with the news release this a.m. at 845.00 (looking for a high of yesterday retest). I will start looking for new short entry signals above yesterdays high in the next zone area of 856.00 and higher as we continue to trade in this multiweek range. :)
 
Keep an eye on the sox and what it does as it hit the down trend line of the wedge, we are almost there. Sox has been a great tell.
 
Right....I do have the SOX up during the day and I see what you are talking about. I was able to get short position fills in the 858's right now and I will look to work this area in this next zone at 856's and up.
 
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