there are 3 time pivots in ES - london 2am - NY 9:30 -10 am - NY 2pm (1pm Chicago time) - everyone comes back from lunch to evaluate, so it couldn't capture the morning momo and sold off..
If you read my prior post I did call for a short this afternoon, although it exceeded my entry point by 10 points and exceeded my suggested target to the downside. I also called for new lows today yesterday. I also made a post last Friday saying I believe it's possible the market has started a correction. So, I wouldn't say it's just hindsight. Having traded through a lot of high volatility regimes over the last 10 years, this week doesn't strike me as anything special. Although of course it's a completely different market than we've seen over the last year or so. If we see a full 10 % correction the market have plenty downside still. If it's a correction similar to the last one (around 7 %), we have another 100 points to go.
Today looks a lot like a day in March 2022 doesn't it? Even the prior day pattern looks kind of similar. What you see every day in the market is some familiar pattern repeating itself. Some more familiar than others of course. Today was an A. The V seems to be on holiday.
I believe Vanzant called the 5383 spot which should give a nice bounce of the weeklies. It’s just below your trendline.
I like a long on the Globex Open if the market’s acting right. Maybe a weak dip below today’s LOD first. Targeting 5560 or more tomorrow. Could be completely wrong, but that looks like the play.
5560? You're obnoxious, dude. It's more like 5460 (not 5560) is your best chance to unload before it flips on you.
Let’s see how it plays out. Market’s seem less predictable when volatility spikes, but if we open gap up tomorrow 5560 looks possible from my point of view. Seems like a stretch, though. I agree.
We are casted for the newest black-mirror episode, a large-scale psychological experiment/computer game. It's crazy indeed. Weird