I'm going to keep my trap shut now, have concluded the current level of high volatility is too great for me to anticipate directional calls, that was plainly ass about face. On Thursday SP500 the price action at close suggested a strong breakout for Friday but although that is how the market opened, it all came quickly crashing down. Gold on the other hand has kept away from the high volatility and quietly grinding up but for how long is anyone's guess. One month returns to date indicate the best performers have been; gold, real estate and utilities. https://www.barchart.com/stocks/sectors/industry-performance
I can hardly stand it. I'm like Cartman who couldn't wait for the new Wee to come out. He had to be frozen in his Mom's freezer and then thawed when it finally appeared. When are we going to get to 2550-2500? I've got my puts lined up ready to sell, but the market just won't cooperate. I haven't given up yet. I sat and watched Thursdays close and I would have given up then and there, but one look at the volume convinced me that big green bar that formed the final 45 minutes wasn't the beginning of a new bull rally. Friday did not disappoint. But why do we have to drag this thing out. Why do I have to be put through this agony. (I know the answer of course, the early shorts have to be taken to the cleaners first before we can arrive at the station.) But p-leeeze, can't we just go ahead and get on with it? In the meantime, I'm sending this little gesture to the Market. _______________ Disclosure: I'm always wrong about everything. So ignore anything I post involving predicting the future whenever it's ahead of us. . .
Suggested? How so? Just because the day trading from low to high? All the time on ET I see people saying this or that about the market, but they usually never offer any basis for their calls. There is no data to support it or at least they're not sharing it. So, I just shrug and read on whenever I see such comments. After years of following the market I'm rarely surprised by market movements intraday and usually have at least a vague idea about how we'll trade throughout the day. But predicting long-term and the next day in advance or even the next week is beyond me and apparently most others also.
ES 2602 support level is key. If broken and price can manage to stay below it then it can become in a bloodbath.