I know. Market gave me a lesson there. LOL. Failed breakout on the Open + statistics indicating good chances of at least a morning pullback. Those statistics may be irrelevant for this market, though.
If I may ask: what level do your Bollinger bands say for buying every single tick lower than...? Edit: Powell talking, btw.
That 5600 level provided some resistance as expected, but I'm a greedy guy. Let's see if that was some initial hedging/profit taking and if we can make it on the next thrust. I'm not sold on the long side for today and still think there's a chance today rolls over for at least a gap fill, but seems worth the risk for now. Could be another boring day like yesterday.
leaving nq alone unless one of these gets hit today i think ES, will be tempted to get back in long under 35 maybe
It seems to me that, while there's still an upward bias, the market is in wait-and-see mode until tomorrow and Friday.
Agreed. Could be another snoozer like yesterday until CPI tomorrow. Markets in a tricky spot ATM as the long side is becoming less attractive without a pullback and we all know that shorting this currently is tricky, too. Moved my stop to 41 as I have to leave it unattended for a bit. If I was up extremely handsomely, I'd just call it a day here. If that loss hits, it's still a green day, but only slightly so. So, seems worth the risk in case I get lucky for a 5660 print and have a very good day.
Look what it did at 300 and then at 400. 500 will be no different. It went in a straight line from 480-500 with no pullbacks or consolidation. Despite this unbelievable bull market it still does have $10-12 givebacks all the time(at least once a month). But the high probability is because of how it reacts to round $100 intervals. Was a day early and it makes sense that 500 even wouldn't be the high.
Nice up move. Why am I not surprised. LOL. SPX very close to 5600 again on this push. Let's see if it pops this time.