This is the area I believe the largest chance for a pullback to the lows should occur. Have exited some more longs and added some shorts.
Honestly, why? If you are praying for something, why not pray for an upstrike where you can unload your longs? Going back to the gap topic, I have never seen gap actions like the last 2 weeks'...
NN, So you are covering your Shorts but adding Longs... but in different accounts, I take it, as one would be either net long or net short in same account, correct?
Entering "Sweet Spot" here .. My Shotgun Formation is in place as expected inflection point @ desired 2720 zone can be quick & fierce!
TL has refined its self & dipped to 2720-30 zone along with elongated PA as Bullys finally made it to the magnet TL Kiss... the kisses are typically quick inflection type hit & runs... Let`s see how we react... On the road today so am looking at delayed PA on my phone by 20 min or so. 2720 is a meaningful pivot point on charts.... fyi
I will share a dirty little secret. On Bigchats.com SPX and NDX are both live, you just have to refresh it. (For stocks the chart is still live although the price displayed is delayed.) If you put an Autorefresh app on your browser, you get an almost live chart with being only 5 seconds delayed. So you can get to see how the futures move by this little trick as long as it is RTHs.... Here is my usual set up with indicators and such: http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Index&symb=spx&x=61&y=19&time=2&startdate=1/4/1999&enddate=11/2/2015&freq=6&compidx=aaaaa:0&comptemptext=&comp=none&ma=1&maval=9&uf=8&lf=2&lf2=256&lf3=0&type=4&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11