I tend to like these days that start out as a short selloff when we are in an uptrend. We've got some areas to clear here , 88, 90 and 95 to be specific, but I look for that to happen. 88 has already been challenged once and we are trying again now. My belief is that we will get through these areas and print new highs.
Im short at 238.85 for a scalp trade. Looking for 238.65 as target. Stop at 238.95. (Im trading spy but same thing).
ES largely flat last night apart from one trade short of the 2388 level which I wrote about on another thread here almost a week ago picking that was the key level. Since then its retracted from 2388 several times and broken higher once. Presently looks like it's going to test 2381. Last night traded CL due to the fact its the weakest market. Breadth Indicator attached.
Market is waiting for a cataclysm, what would be tomorrow's fed meeting. Until that it is just slow dragging...
Yeah, CL had a nice move lower all the same. Also watching what Trump is doing with Glass-Steagall http://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html
s 85.75 New system for last hour tests well, but sucks in actual trading , LOL Will close out before near close unless gets to 84.75.
I see no reason to get out or get short going into the afterhours. --Therefore, staying long. Stop (Mental/observant) is at 2375.00 until RTH open tomorrow.
Phase 5 has now begun in "The" journal. This is a very exciting time and I look forward to your postings. This is the final phase of "The" journal but by no means does it indicate that it will be ended any time soon. ----I anticipate that it will continue many years---in fact, likely many decades. Good fortune to all.--Ishmael