I was thinking similar. 4095 area would be a gift to get long for the ride to 4400 or so, although not sure they'll allow it to get that low. Plus I think Powell is talking on Sunday so could be a massive gap up and go on Monday so no chance to get in if one is flat. I'm holding long from way down, so whatever happens, i'm good
Yeah, on 60 Minutes. Go figure. There will surely be a gap either way, because while his interview will be at 7PM, someone has prolly leaked his pre-taped broadcast already and are planning the moves now. I get a sense of one word the show will be brought to us by...J-A-W-B-O-N-I-N-G.
I think Sunday is definitely going to be a gap and run. I sold my whole stack at 4105, and wish I left a little on the table after seeing the last 30 mins of the day, but I couldnt justify re-entering there. 4150 before market open on Monday purely based on Euphoria
Your instincts served you well, because if it gaps down 1% because of Powell's dribble, you will pat yourself on the back. My instincts served me well on both sides of this latest correction in the NQ. I finally did not panic sell on some measly 10% drop. That's just peanuts now. Brave new world. As for the ES? Best to wait for the Euro reaction and algo parsing before you make your next move. You locked in your profits. Great. You can't grab the full run, but at least you got some.
We now have three successive weeks making ATHs and each closing at top of the range. One of the last (but not the last) few times that happened - this happened next. I wonder what thoughts and emotions were flooding the market participants minds at that Friday's Close? Weekly bars:
Eyes on R2k, H&S, I have no idea if indicators mean anything, but there is a technical weakness there.
So no Gap Up and a little correction, Which I don’t think is over as the bottom doesn’t make sense to me but PA is king ! Nice little rejection @ 4106. Let’s see if we can break 4114.50 Otherwise we might very well continue lower.
Just exited a short at 4106.25. If 4106 ends up being low tick in Rth session, I’m upgrading myself to ES grandmaster status. personally, I think we have a chance to flirt with 4090, to complete an ABC pullback on the 4 hr. But gonna stay on sidelines and let the distribution occur