I'll vote yes. It's basically a bet that we'll be rangebound on the higher timeframes (4-hour+). Right now, we're at the top of the range. The only counterpoint I can think of is that huge buying surge at the end of Friday and tons of (maybe) accumulation around the 3220 area.
Tough individual day to read for me. NQ 11249.25 ish is long target. I am slightly long bias today, but difficult to find and stay long in this market. And larger charts make me tentative.
At 11211.50 may be some issues there / some stalling, but if we make it there good probability we still eventually work our way to 11247.75 (target got lowered some during this back and forth).
There's 11211.50. Here's the stalling as expected. Increased probability now of 11247.75 though. So will still look long. But lions share of move done there.
grats on anyone who was mainly playing it short today. Really thought NQ would punched through on 2nd try of 11211.50. Did well first half, but got stopped out a lot here trying to go long again and made some donations to someone else. Really can't believe they are making it this easy on shorts. I know larger charts are still not looking great, but expected just a little more.
End of year is a long time coming for a short term trader, vanzandt. What's your call for tomorrow? I try to keep an open mind at all times, but it just seems to hard to not see us make at least a leg down towards 3250 by tomorrow and probably as soon as today. The counter argument is that the market sold off a lot already. Election or not.