Speaking of ETFs... Went long SPXL at 70.51 this morning and added more at 71.67 this afternoon. Multi day hold. Hoping for high 30's - 40's on the ES next week.
If my 1926 target isn't hit by eod, then a stop will be placed at the entry point of 1911.75, with exit target changed to 1931.5 - GTC.
Target hit. All flat now. I hope my rationale is clear enough for you. My point is that just because the charts are pointing down, does not guarantee a continued movement in the same direction. It's no more difficult to go up 30 points than to go down 30. The market is always right when it wants to do what's "not right." Why argue with it?