Diamond topping formation on 15-30-60m buildout.... Potential swing hi print at 4580 may very well be in....
Pretty good trading day. NQ particularly paid out very well on the longs. Massive topping tail on NQ 1 hour, have to imagine they go up and punish that some at least to 16110-16120, but my appetite for risk is not very high considering good chance we've seen most of the good setups already. I wouldn't mind a 3:00 or 3:30 dip to maybe look long. Otherwise I am seeing scalp/chop long with ultimate direction being up.
Well we're still 40 points higher (on the cash spx).... 4400 by Friday close is not looking good. But the fat lady hasn't sung quite yet.
Man this is prime setup for algo's to eat up sellers and take it higher. Sure nothing is 100% but that is the probability, given what day it is, the action and overall macro market action.
I trade ES some too, but still struggle with it because NQ literally just ripped like 30 points and es went up 3. It's like 60% difference sometimes, like tis morning. Understand margins are lower on ES, but just the movement in general. ES takes forever to break relative lows or highs. I guess it's whatever you're use to and fits your style. Definitely doing ES better than I use to, but much prefer NQ.