Maybe I'll be able to redeem myself after yesterday's massive failure. The market looks very weak here, so I'm going to swing for the fences on this one.
I already redeemed yesterday's failure if I close out right now, but the market looks weak as hell here. I don't think anyone but Powell and the PPT could stop this right here in the middle of nowhere. 4350, maybe?
I would also say 4350 would be a target (if continue down) with all the opens and closes congested. Funny sidenote, my B is "respected" by the market by price jumping over it
It takes courage and conviction to hold here, but I just don't see a buy signal yet. And I can see myself in a different time/space trying to pick a bottom here and the pain/hope/frustration I feel as the market keeps going lower.
Locking in 30 ES points at 4484 and 75 NQ points at 14646. I think that should be "safe" if we head lower from here going into the release in a bit.
Stop was just above hourly candle on both. NQ retraced more than ES on that pop. Stopped out of NQ for 90 points of profit. Locking in 40 ES points @ 4474. It may be a bit too tight, but let's see where she goes. EDIT: Corrected the NQ trade. It was actually 90 points, not 75. The stop above would have kept me in the trade, but it seems like I tightened it just too much.
Our short term models (couple days holding period) are all in cash still, waiting for the next strong long signal.