The Rally Since 1PM . . .

Heard that before. Everybody said we needed a test of the Jan lows before we could go up. Got the test yesterday and some near capitulative sentiment readings to go with it.



Quote from Aaron Copland:

We have not seen capitulation, we have not seen panic selling. The selling has been very orderly indeed.


We have not seen capitulation, we have not seen panic selling. The selling has been very orderly indeed. Until we clear some resistance we are still in a lower highs and lower low environment. And thems the facts.
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Quote from nyxtrader:

I caught the double bottom on the ES, made 6 points. However, I tried to short gap up and lost 10 points. Pretty much flat for the day.

Edit: Just took some 131050 short.
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Saw some dumb $$$, someone bought 246 at the offer at 2:57.

That should be the high for the day.
 
Quote from Bigpipn:

Long eur/usd from 153.08.. Target 153.55 (daily pivot).
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Stopped out at BE..

Unbelievable, I guess we will retest that support level.. still looking to go long.
 
Quote from bh_prop:

Heard that before. Everybody said we needed a test of the Jan lows before we could go up. Got the test yesterday and some near capitulative sentiment readings to go with it.
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Got the test yesterday?? today would have been the test but the federal reserve stepped in. Im going to say that it WAS NOT A DOUBLE bottom, if the federal reserve didnt step in and we had a 300+ point rally then I would say maybe that was the test, but Im going to say the bottom is not in yet and that the markets will touch 52 week lows again. Sell any rallie, we have seen this time and time again.....
 
Quote from bh_prop:

Heard that before. Everybody said we needed a test of the Jan lows before we could go up. Got the test yesterday and some near capitulative sentiment readings to go with it.
More...

which capitulative sentiment readings are you referring to ? which indicators etc.
 
TODAY IS A DAY TO BE SELLING NOT BUYING....simple as that.

I bought yesterday and sold this morning with profits, I want to buy but cant....I dont care if the dow is up 400 points, im not going to regret it, because I know Ill get the chance to get long again at 11800 or less.


:D
 
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