Great spot to short or sell ES Long's 2570 Should be good for at least 10 handles, i'm looking for 40 though I'm also long ZN at this specific moment and short NQ's.
Got my fill on half of overall position with avg cost of 72. Still looking for drop to 2515-2520 before we heading higher.
I said 6 days ago: "So let's get back to the prediction business. TL;DR: Next 2 days up to 2600. After selling off from there, going up to 2700 in the next 5-8 days. " Took 6 days, thanks to Tim Cook but here we are at 2580, and I think we are ready for the pull back... I am not sure this market have enough strength to make it up to 2700, but I would expect another rally after a 50+ pts pull back...
Edit to above. Blue line represents 2016 bounce and bottom re-test. Red line would continue with 2007-08 analog. Both bring us back to marginal new lows in low 2300's.
I typically like a little more pullback but it doesn't have to occur. We did have pullback overnight though and just got started upwards early.
Cash gap now filled from yesterday. I'll be looking now for a resolution on the current intraday short trend and then reversal higher to get long.