I expect more downside for the week to come. Without further details... Both these structures came off all time highs. It does not quite satisfy the same weekly pattern, but the last time we made all time highs and closed lower it marked out a top in the market. October 2018. These are weekly charts. So, technically, I see plenty of short term down side potential. There's also several unfilled gaps below. Thus, I take the opposing view of NQurious moving forward in that I'm bearish, but also aware of how strong this market is and that it can reverse back up just as fast as it dropped...
I’ve been long since soon after the Globex open on Sunday June 2 and continued buying through Monday June 3. Average long ESU is 2730’s. I was posting both here and in discord chat that a tradable bottom was being worked out in real time. I did take partials, e.g. most recently at 3020 which was one of my targets.
Well, I took out my remaining longs on Thu and now am heavely net short in US markets but remain net long in the Europeans. The best case scenario is a bounce on Monday then 2,720 or below should be seen. Trading the Indices on Fundamentals
Thank you, thats very helpful analysis and info. You made a great call with that last bounce at 2730.
I think tomorrow, Monday, have the potential of great volatility and continued down side. Gameplan for tomorrow: 1. Open Gap Down - I'll be looking for a short entry, but we may first trade up to Friday's Low (13,50) or Close (32,00) depending on where we open. 2. Open Gap Up - I'll also be entering short here on any sign of weakness for at least a move down to 32, but in anticipation of 2895 on the day. A very strong Open or strong buying (i.e., no short signals) may negate this, but barring any very positive news on the wire, I have the feeling this is how it can play out tomorrow. Open gaps below: 2895,00 2849,00 2747,75 Should be an exciting week, I think.
The markets are crashing. I can't find any news that may have caused this, other than the horrible shootings that have happened over the last 2 days. I feel so sad for those families of the victims.
Indeed. This is the point where I should just star shorting for a few points here and there. But my rule is to not enter trades I am tired, like ready for bed shit. I am sure I am missing much opportunity.
Damn, just checked some delayed charts on the web, yikes, looks like short was the way to go, at least for now.