Well, fuck me. Stopped out that one for 17 points and wasn't around to re-enter on the Open as I had an errand. Watch this hit 5600 now. 5620 if it gets legs above that.
Looking for washout, the MMs like to hit everyone’s stops (longs). If you look at 5-60 min charts you will see frequent (look backs) for confirmation of trend. If the ‘look back’ pivot fails then it heads to the next regression.
Potential sell zone, but the market's euphoric at the moment and NQ got some catching up to do, so I can see this hit 5620 or more if this gets moving above 5600.