I exited a long from 70 to 90 while sleeping. Put it at B/E when the market was at 70 and hit the sack with low expectations thinking I could very well get stopped out. Not trying to impress anyone with a hindsight trade, but I've been mentioning the ETH session a few times and just look at that nice trend higher. Last week, it happened more than once that I took a few nice trades in ETH and got chopped up in RTHs FAST two-sided moves. I definitely want to exploit the ETH session more, but as I hold a day job I'm not always around and generally like to monitor my trades when they're on. Yesterday, I took a sleeping pill and slept like a baby, though. Knowing the worst outcome would be BE
One of the things that has been interesting, especially in the last few days, is that the "consensus" seems to be that the market has to go lower. Inverted hammer-like candles on NDX and IWM on daily yesterday. Hanging man-like candle on the VIX. Maybe the bottom has finally come together!
$VIX is based on options activity 30 days out. The trend is the trend. As for consensus, what is that? Like price it never stays in one place, but unlike price is very fickle.
Friday all time record put buys . Those put buyers paid threw the nose . We showed no ability to cut hard threw yearly lows . What’s really stood out for me the whole year decline has been the inability to get real dislocation and panic . It’s been slow and orderly . Had a few big down days but no panic
FED has NOT stopped QT yet. Far from it. Once we get close to that happening, we will be close to bottoming IMO.
Could be a range or even a rally coming out of this base before the next move lower. I wouldn't think this is the bottom. Good move higher here ovenight. Might have to see what my statistical model says about this. Looks like we can have a shot at that juicy gap above from last week.