50 Handles away from a noted call to kiss and tag 2635- 2650 isn`t accurate...... not even close... It was a bullshit bottom... we`re not done yet! 2700 wasn`t intra day during RTH... It was Globex... 2619 is second objective.
Well, today may be a good buy at the dip for stimulus play. It will come fast when politicians wallets are hurting.
And then...? 2650 down is 21,92 % down from top to bottom. I imagine there's a good chance selling can accelerate further once 20 % down is breached, unless the PPT or Dozu's pro boys step in.
That is because it goes against human nature of fight or flight when all hell breaks out and it takes balls of steel to be a contrarian and fade retail at tops and bottoms but that is exactly what professionals do.
There is so much value in that one post and most folks are going to gloss over the text, look at the chart, and say to themselves, "Bah ... humbug .... after the fact bull$hit." Knowing now what I didn't know way back then, I'd gladly pay $1000 for that post rather than the few dollars I have spent on any of a number of trading books with hundreds of pages over the years. But it's true value is priceless for anyone who reads it and takes into account every word and every sentence. There is a lot of experience distilled in those two paragraphs, and you do not need an interpreter to understand the system or the rules. You will need practice to trade it, but that should go without saying, right? If you can write your trading plan on the back of a napkin and a 10 year old can understand, then you are on to something, in my opinion. kudos to @speedo