Got wicked out on that deep dip, but re-entered long. Offering 51 to exit. I think the sell back in range is off the table now.
Yeah I know, you gotta leave logic and common sense out of the equation. But it has always been that way. Algo's. That's why my "push the hardest button" theory works more times than it fails. And today it sure is hard to push that "buy" button. And as I type, up goes the naz.
I go by the 'Government Pension Fund of Norway' or some other fund explanation model whenever there's a move I don't understand in the markets. Keeping it strictly technical have helped me a lot. I mean. What other choice do I have after having seen the market do the complete opposite of common sense so many times? 1 point shy of all time highs. SPX. I refuse to believe we won't see a tiny pop above, but who knows? I'm not sure if the 'market' is ready to resume a long trend yet at this point, so we may be range bound for a bit longer...
Yes. Agreed. I'm not expecting much, but think that nudge to 6150 will happen. Gotta love (or hate) those deep pullbacks on ES.
Not even that deep. 13 point range... We haven't had a 13 point range since the end of December 2023 which doesn't even count being a holiday. Something ought to give.