Nothing to do, "to Bed, to sleep, perchance to dream." I did notice that the ESTX50 showed a little more life than the ES. With tomorrow being triple witching which might cause whippyness in the ES, I might be looking to use the ESTX50 in the morning session.
yes estx looks like it "could" break the range up but it's pretty limp and certainly no conviction over on dax. probably have to wait for the US markets to open, even then don't see today as a very high odds day to trade. think I'm gonna grab a nap.
I think db made a good point yesterday during the chop about needing to see some evidence of a trend before jumping on one of these. when you've got a day or period of time that's drifting you really shouldn't force a trade. One of the few indicators I use is ADX to help me pick out a trending market. That along with keeping updated trendlines continuously so I'm concious of where we're at trendwise.
problem was during the pullback, the MA turned down, defintaly not a good sign, and after a few points in + territory, you would have got stopped out. I show the the pivot high on the 6 bar at 3261.50 not the 5th bar at 3261.00, anyone else?
fwiw.. chart attached. 5:00am bar, hi 3261, next bar lower hi and lower lo. was a single bar pullback(bad). The next bar did pull back to 3258 but I'd not of stopped out that quickly. therefore depending upon stop management from there it went to a hi of 3284. So this one was marginal and I have no regrets about not taking it but it actually would of been a winner.
The Stock Traders Almanac says in 20 yrs 1981-2001 this day has been up 71% of time. Whether that has much/any predictive value, who knows?