Micro E-mini Madness (2% per day)

So by this price action my MNQ range has now been invalidated, and the bull continues:

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UNLESS of course the liquidation break rug pull is right around the corner!
 
The advance continues unabated. Wow. 25 points higher than the possible entry.

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I am not interested in this market right now. I will look for shorts if we get below the 8,100 mark (after another pop from there). OR I will look for longs if we get down into the 8,085 range.
 
Not trading this afternoon, just watching. We blew right through the 27,050 mark on the MYM. This is one crazy market.

And tell me this: Why is the fed going to lower rates? All time highs and we are lowering rates tomorrow? I think Powell has some loose screws, but he is not an idiot... I think there will be some unhappy bulls tomorrow. 25,000 YM, here we come... (someday)

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tiddlywinks said:
Ummm... this is all-time high, uncharted territory. How "strong" could those "resistance" levels really be?
More...

Maybe you are right, they are not very strong after all. They held great the last two times, but it appears that the fed's hi-falutin' fakery was just too much and the bears finally capitulated.

Of course we know that the moment everyone gets long that the big boys will put on the brakes and drive this sucker the other way for days or weeks. I believe they have been in distribution mode for months now. Then at the new (eventual) bottom they will start a new accumulation cycle.

But I must set all of this hypothesizing aside. I am not a swing trader, and I have to "get it right" in a small 2 to 3 hour window each morning... It has truly been a challenge as of late.
 
Tricky tape today on NQ. Price going up while AD went down. I managed to pull out 10.5 points as I went long off the 88 very early in the day. Looking forward to tomorrow.
 

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Got some good trades today. The market seemed to be topping out. But with the almost guaranteed rate cut tomorrow, prudence was the order of the day. I was not looking for big directional trades but correctly reasoned that we would be in a ranging pattern. MNQ was clearly weaker though, and that is where most of my trades were:

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Wow! Nearly $100.00! I only made 47 bucks (1 contract) on the MNQ but I could not sit at the computer and had to go.

But....

What is troubling is that I would have bet 5 contracts on one of my other higher probability systems and lost 200 bucks...I did not as I was out of the office. I am thinking it is much better to trade scaling systems that go in the direction of the longer trend and hit the dips.

Es


sstheo said:
Got some good trades today. The market seemed to be topping out. But with the almost guaranteed rate cut tomorrow, prudence was the order of the day. I was not looking for big directional trades but correctly reasoned that we would be in a ranging pattern. MNQ was clearly weaker though, and that is where most of my trades were:

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More...
 
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