Intraday shorts should not get too excited here at 2740 as there is plenty of time today yet to have a good ole fashioned short covering rally into closing.
It actually is...and a break above of 7026 would be your trigger back to 7070 - 7120. Also, the NQ does not provide any weighted criteria for my entry into ES positions. But glad to analyze NQ as well.
If you are playing the short side, at the current price it is exhausted, holding short too long. Yet again, if you go short now, you do have your first trigger to enter short from 7020 -7028, but in this case, your stop will have to be a lot wider, and your risk greater.
I'd add that most index futs movement seems to occur specifically to confound technical traders and systems. And it can't be any other way considering the thousands playing in this arena. Retail wants clean technical patterns, clear breakouts of key bars/levels that run directly and far with only modest retraces allowing a tight trailed stop, trends that move in multiple obvious waves bounded by MAs/oscillators, setups that get you in for big moves with plenty of time left in the day, and good intraday entries for expected higher-timeframe moves. So indices tend to give you none of that, except when big players moving size overwhelms the speculators trying to front-run it.
When I mention that there is no obvious reason for me to be long or short, I am not referring to intraday---Rather, I am talking about outraday.---Talk to you soon--