CBOT SKEW Index matched a recent all time high yesterday at 179.98. Typical is about 150. There is correlation between high skew and down moves. However, I read yesterday several country leaders said they are willing to work with Trump concerning tariffs. I'm thinking a down day today with a potential gap fill of the previous day. Maybe more. However, I will let current price in relationship to RTH open be my guide.
Nice data. The technical data I'm looking at gives high chances of at least a squirt above yesterday's high - which may run a bit or sell hard. If we open gap up that seems quite possible. Then again, I'm wary of predicting anything these days.
Okay. No gap up open. I'm still feeling fairly bullish, but let's see now. By that I mean we may get a decent dip, but I have a hunch it's not a good short. I may be dead wrong here.
NQ and YM switching positions from yesterday. Treasuries down, most tech down... On my book, we're still on an uptrend, so I'm not shorting, but kind of hard to buy here the (possibly fake) breakout. Sitting on my hands so far. I would buy a dip before FOMC (but not so close as not to have a cushion). And I've set up an orange alert for 5pm ECT
A nicely green up week (which this is as of now) makes the week high on a Wednesday only 10 % of the time. 80 + % of the time the week high is made on Thursday or Friday. That leaves today or tomorrow if the current weekly structure holds and we don't have a big sell today.
I'm long from 15. Entered a while ago. Just holding through this mess assuming the LOD will hold. Please, Trump. Make Laissez Faire great again. I'd like a win on this one. 6140 would be nice.