I usually don't trade the pre-market, but was shocked to see the market was actually in the red overnight and considered it a great buying opportunity. I entered a long @ 3519 which if I get lucky will hold all the way to 3580 today. If the Open is bullish - I will probably add a contract or two around 3540. Feel free to discard it for journal integriy purposes and all that - but that's my play. The market have gone a bit too far, too fast, now, but I sincerely believe a test of the ATHs are due this week. It's possible Tuesday will be a consolidation and it will happen later this week. If stopped (B/E now) - I will probably re-enter at that level or a lower level. I'm very confident the test will come and we might even surpass the old ATHs.
Saved by dip buyers thrice, but still struggling to push above that 30 level. Opening above 35-41 would be ideal, but can still turn into a gap down by the Open. Not feeling comfortable yet.
Stopped out B/E. Let's see if we can pull back a bit lower then. Note:My intraday model isn't very bullish for today as of now. It's a mixed bag. So maybe the ATH will have to wait a few days. Still leaning bullish, though, but with yesterday's monster day it's possible we'll take a breather here today. Good luck all.
I had today as a seasonally weak day (Stock Trader's Almanac) so given yesterday's move, not surprising for us to pull back here.
How so? I'm anticipating that this gap down Open will give us a swing up to 3525 at least. Then it remains to be seen if we can pick up momentum and trade even higher. But I think it's wise to prepare for today as a consolidation and even a slight drop lower.
Exactly Zandty...the common folk don't realize that Biden will be in office for 1 year tops...and then go to the nursing home. With Kamala we have the furthest left President in history....and we'll be moving to communism. We'll probably merge with China: Chinamerica....LOL. "If you can't beat them, join them"
There are days of the year that are historically weak or strong. Today just happened to be one of those weak days.
Just likely clearing some overbought, likely to be a nice up move at some point today, but may not be easy to catch it. I am only looking long today, but trades are just too fast to post, if I see a the longer term long setting up ill post.
NQ is struggling to stay green. Let's hope it turns around here. It's my view that this is a pullback before the next big leg up - either today or tomorrow. But these are special times and you never know. So, wear protection as @Buy1Sell2 .