Helluva markdown on ES. However, it seems a lot of our rally in the past few month has been over trade treaty optimism. In addition, I don’t see this setback as an isolated, contained event. The China’s possible responses seem polarized and will likely be coordinated with other countries. Does China really want to go back to ramming US navel vessels and worse or start the path back to economic and financial recovery with a fair trade deal? One thing seems certain, the price for risk protection is going up over the few days and ES short signals are best listened to.
Oh ok, good. Hey btw... I've been meaning to ask you this forever.... do you not look at the volume bars on those ticks at all? Or any of your time-frames? I know you and Speedo are (diligent) students of various guru's, and it obviously works for you two.... you don't look at volume on short term time-frames?
I do not look at volume bars at all as I always have at least one tick chart up that gives me an idea of the pace of trade, which is really what I want to see. I do look to volume on daily and weekly charts of stocks I am swing trading.
I've learned from various people through the years. Most prominent was Mike Bruns but he would cringe at being called a guru. He was as modest as he was skilled.
Talk to you in RTH-----Support has come in where we projected it to be. We'll see if it holds. Bear market topping action continues .