I am not one to call tops. I don't much like making so-called "calls much at all. But, since yesterday the ES got to within 7.25 points of that 6114.50 measured move target I've been hypothesizing on for a few months, and since it gave such a nice double top intraday (hereafter to be referred to as "the @Laissez Faire top") I am feeling that IF the ES has temporarily paused its inevitable march to the moon, then a pullback of some unknown and unpredictable extent to the levels marked here is in its early stages. The pullback should find buyers again somewhere between the July high and the August low. I do not mean that it WILL hit all of these levels. I mean that somewhere down there rests a sleeping calf ready to sprout its horns and take this bull market higher.
That was some spikey action post release. The long would have survived with a 1 point stop, but that's all hindsight. Got back in long at 91.50. Giving it 1.5 points. Will add on the Open if I like it. I think the key for any rally today is to hold yesterday's close at 89. Wouldn't be surprised if it reverses down either. If this gets legs - 30 looks possible to me. Maybe even 50.
NQ put in a mild 70 point one minute bar. Rather muted compared to what it used to do during those CPI releases lol. I've done nothing yet. My worst loss ever was trying to game the NQ immediately post-NFP. The scars remain.
I only have data going back to 2019 on this, but NFP week have the week high on Friday only 50 % of the time or so. Need to wait for RTH to confirm direction, I think. I remain hopeful for a big payday, but it's all uncertain yet.
Are you hopeful for that payday because you think the ES is going up? This looks like a pump and dump to me. I agree, it's all uncertain and I am patiently waiting. I did take a long at 97.75, scratched it at 98. I'll see how they open her up.
Yes. I added a few. Average at 95 with 1 point locked in. My bet is we'll take out the current highs, but not so sure if we get legs above. That's the part I'm hopeful of right now. But, I'm wary of this all falling apart. NFP day doesn't strike me as a very bullish day on balance.
nice rip good one, LF I missed it. It did look nice at the open for a long to me, but I was just a deer in the headlights for some reason lol. Still long ym, but as luck would have it, it's the weak one today!
Fresh weekly highs. Now, let's see if it's a look above and fail or if this gets legs. I'm uncertain, but hopeful. Overall, I feel we're pushing it quite a bit on the long side here, but it is December.
What's uncertain? Massive weekly green candle. Not going to give it up. This rally will keep going as it is so damn unstoppable. It's going to blow some people's mind how this continues to only go up. May see that 10:30-11 very small dip followed by the V. Otherwise a runaway train.