I've no positions and this point and won't take any new ones, but it's a trend day up for now. Trend days up make the daily high within the last hour 80 % of the time. Average change is around 1 %. Currently, SPX is up + 0,83 %. 1 % up takes us to 5486 on SPX. If I had a position on I would just trail nicely behind the market as a trend day should not have sharp retraces.
We're currently trading at 5550 on the Sept contract. We still have another 30 points to go, according to the memo I just received. Crazy, if you ask me.
baby nq position is flying!! i'm gonna cancel that profit target and raise it a few hundred points as I said like 400 points ago, they always get their numbers when fintiwt is talking about it lol ("5K ES!, 40K YM, 20K NQ!" etc) - usually get a very decent overshoot, too
if we can get a few more nice up weeks, then "6K ES!!!" will be all over twitter etc. At that point you can go long for a nice swing and cover at 6030 or so That's my thinking lol See what she can do
That could easily happen. I see there was a reaction off 1 % up, but no biggie so far. Personally, I'd be cautious on new longs up here, but it's a trend day until it's not. Still 90 minutes left.