You may have a very good point on this thought.....makes sense from what the action was today. I SHORT'd the ES at 1431.00 today off a market profile level (1430.75) near the end of day, as the delta gave me a strong "shift" signal.............. http://www.charthub.com/images/2007/01/04/ES_317_VB_8.png You can see here this type of move is typically of a SHORT covering rally versus a bullish run........... http://www.charthub.com/images/2007/01/04/ESTradeChart_2.png
WOW.....overnight session has been "bombs away"....I am now flat all ES runners at 1421.00 waiting for the jobs report. 1416.50 level for the ES is HUGE MP Level.......this is a major over/under level for today imo.....so keep a watch.