Momentum is down on daily, 4 hour and 1 hour timeframes... even if we bounce I think there will be more down movement.
Not the ES per se, but I just picked up next week's 2870 SPXW call at 1.20. It looks like the beginning of institutional buying this afternoon...looking to take out new highs next week. Edit: Oh, apparently my confirmation is kicking in before I could get this posted....we'll mark it at 1.65 to conform to the time stamp....shouldn't dramatically alter the payoff...
Ouch....I just went back and ready the unread posts above mine....rough day, guys (except B1S2....you and I are about to have a good week, I think).
the nq was offering more than one could enjoy. simple is as simple does. price moving up /down....….all day......yes beautiful. don't use support for me or resistance only price turns I go with it if I my system tells to . there are 14 things price can do at tr turns.....I like simple....strictly mechanical.....I believe time based charts kills 94 %
They sure piled into the long side with about an hour to go didn't they? I like the futures contract option play, limited risk with the ability to catch a snap back to ATHs. Much better to take on a limited risk play especially with the Turkey currency crisis unfolding and now elements of Erdogan's crew suggesting to take US troops at Incirilk Air Base hostage as bargaining chips. Sure, that sounds like a brilliant idea. What could possibly go wrong with that move? https://www.zerohedge.com/news/2018...rlik-air-base-arrest-us-troops-terrorist-ties