I don't disagree, BUT. There is a shitload of analysis out there (myself included) that would be rendered wrong by merely ticking a new ATH. The exact ATH number as someone pointed out is slightly different depending on which instrument you work off of. Cash index is probably the safest, followed by ES basis March, since there is no dispute as to the date of the ATH, and basis March was the front month at the time. That said, it would not surprise me to see a surge through the current ATH, in which case I would make a 2% move (about 65 handles) the area to look for a top, assuming signals of course. Regarding the DT possibility, a 2% zone may no longer qualify, but I have seen recently in ET some extremely sloppy and angled DTs. So maybe that doesn't matter. IDK. Good trading to all!
Looking very bullish from here and should be a smooth sailing higher from the Open with very strong odds of taking out yesterday's Highs today. I'd be surprised if we dip below 3353,50 in RTH, but you never know... I may be a tad early, but trying a long here from 67,50. EDIT: Putting in a disaster stop @ 50 for now. Would need a very strong sell and open below 50 to negate the bull scenario for today. IMO. Will probably B/E my entry on a move north of 69-70.
Stop @ 60. Will probably re-enter long if stopped. EDIT: Make that 57,50. I'm betting the bottom of the range here holds. Will re-evaluate if stopped, but long seems to be the play unless something changes from here, i.e., a bigger sell-off following the ###.