3793 / 3800 = important levels. The market needs to find a bid here or it looks like a reversal on the weekly. Just not crazy about shorting this either down here.
If we can stake out a low here, I'm looking initially for a minor move to 3807 or 3813. If the market catches a bid we can go all the way to yesterday's close at 3835,25, but let's not get ahead of ourselves...
That was fast. Out for a 4 point loss on that last one. I don't think I'll short this. At least not yet. Looking to see if bidders come up below here.
I'm long again, but don't tell the bots. Will add one unit if we stake out a bottom here. If stopped on that one I'm done for the day and it will be a red one. Better opportunities tomorrow. I have a hunch that if we drop it will be a hard one to sit through with many pops.
Hopefully works out for you, I can't long this don't see the setup. Looks like setup for a dump, plus the action has been really unstable at some points, like they are desperate for buy liquidity or something. No real follow through yet though, could be waiting for numbers like others said and/or election stuff to finalize for a catalyst.
We have to acknowledge that we're spoiled when a 40,75 point range is a narrow range... Oh, I'm bottom picking for sure, but the R/R is fine with me. My rationale is that we're at a major support level here which have been defended. See the 11:00 and recently the 13:15 5-minute bar. As I was writing this I was stopped out. In hindsight, I should have stopped out sooner when we didn't find momentum following that 13:15 bar. I'm calling it a day here. The short side may be a bumpy ride and I'm too late now, I think.
IMO the only buying done today is to absorb selling by shorts and try to stabilized price. Seems like it isn't working all that well. Other than to not give a lot of ground. So far.
Just looking at this while making a screen grab of it (TD REBO levels) and thought to myself damn should have noticed never got that close to upper level since RTH started that the bias would be to the downside ... once the break eventually came.