well i said I was bearish this week on the er2 baseon my analysis, but i didn't expect the market to plunge + 10 points today.HOLLY COW!!!
I feel like I've abandoned this thread since I started it. Well, I don't think this is any confirmation yet but this year is going to be very challenging for all the indices. With that said, I haven't done any serious trading on the index futures and have dedicated more time to trading EUR and JPY futures. Good luck to all of you. I think the current market (despite the upward move) still has an inherent negative bias on it.
SWEEEEET! one of the best days so far this quarter.. This is what I meant when I said that ER2 seems to want to take the long way home...It had to spike to above 755 from 744 before going to below 740! It must be that many started shorting this market too early and had to contribute to a blowoff top. Given this action, I think there is more room on the downside...probably another 15 points or so, this round (on the daily chart time-frame). This move is not so significant on the weekly chart but strength seems to be weakening there too...but not so convincingly. Let's watch it as this unfolds.
Money was just lying on the ground today I kept thinking the move down would find support - BUT no - It just kept going and going and going... haven't seen a 15 point trend like that in a while.
Hello, Well the rubber band snapped back. Currently trading at 746.2 and am out. Will now be stalking the sell side. Potential wedge formation on the 5min. May turn inot something or may be nothing. My entry will be on a break below 745.6 at 745.5 currently or will trail higher if necessary. Good Trading 2 All! Kelly Just filled at 745.5 with stop at HOD, one could be plus or minus a tick depending on how you view stop placement.