Currently working a HVN, but lots of air below after yesterday's move. I think that gap will close sooner rather than later. One large bar up and all everyone thinks is up. One large bar down and all everyone thinks is crash. The fact is that every prior rally this year have been sold. Fundamentally, I don't see what changed yesterday and I don't think Powell is too happy about this. I may very well be wrong.
I'll be looking for a pullback to re-enter long. At least I hope. Crash smash...The crashes I've been a part of come right after highs have been printed, bam out of nowhere.
That's why I am building up my shorts. But not too much. I think if it was going up, then it would have already. Not much follow through up so I think we we will see a retrace at the very least.
Couple of small trades this morning, nothing major. Short at 3960, let's see where we open Monday morning.
Tested the waters with a micro MNQ this morn, waiting to see if there is a late Fri aft 3pm or later push into the close to maybe grab a few more points with size.
It's not a strong bias for this year, but Friday's last major swing is up more often than it's down. I was long around 88, but chickened out for 3 points on a trailing stop. That 4K print seemed like an obvious trade when NQ started breaking out and ES coming up at the HOD. I don't think I'll take another long up here as the R/R isn't right and the bear may come out of hiding, so probably calling it an early weekend.
Open gaps above. First is 4067. I chickened out for a tick on a final long entry, but I really wanted to be long up here today as it seems like one of those days. Bought a few tops in the past, so just gonna take a pass and keep my few points secured.