Market wasn't even able to touch yesterday's close on that morning dip. If somebody wanted to sell the market today it should have happened by then, no? Just my rationalization at the moment. That said, I'm not loving the trade location or risk/reward on the long side here. Market's showing a bit of fatigue up here. On Thursday, we got the CPI (CP Lie?). If it comes out within expectations (which still seem rather high to me), I'm sure it's another rally. If it comes out even 0.1 % below, I'm sure it's an instant ripper where bears will get carried out in body bags as usual lately. If it comes out hot, well, it will probably dip nicely, but I'm sure it's a good dip to buy as the world still seems to be flowing over with money $$$. ES 5650 + today if we're able to hold the LOD is my guess. But not uber-confident at the moment.
I'm currently long from 35.50 with a limit sell at 50. Considered breaking it even, but I don't want to risk getting stopped out on an instant V where I'll have to chase to get a better entry. Holding the stop at 34 for now, but may give it a bit more space.
Stopped out long at 34, but re-entered at 35.50. Give it 2 points for now. Try again at lower prices if stopped. EDIT: Make that 33 on the stop.
And stopped. NQ nearly filled gap. ES holding up well. Doesn't seem like a day we'll sell, but I may be wrong? Looking to re-enter long. Maybe I'll take a beating. Only concerned if we go red.
Amazing how QQQ reversed off 500 to the tick. ES wants to go higher, but NQ is putting a lid on it today. Waiting to see if this NQ pullback can end around mid range of yesterday. Almost there. If not - looks like NQ could print an Outside Day.
Longed ES here. NQ reversed of PD mid-range. Still thinking 5650 can happen. But please, let's do it soon. Big football game coming up.
Booyah! LFG, bulls! If NQ can join up, it should be quite possible. Have to assume a ton of people shorted that 12:50 candle on NQ thinking 'today's the day'.