Bah... give or take a couple hundred (woops... made the mistake of disregarding the hundreds place since the ES was so accurate) ES was mighty close though, good call by Synic still.
Definitely some funky ES price action into the close. Hard to believe. Do your non-tradestation charts look like this? I left off the scale... spikes are about 8 points, 1424 to 1433... thereabouts.
I'm looking to see if we can get a little rebound up to 1427.50 to test the trendline that has rejected the 3 past rally attempts. It feels like stepping in front of a train, but the trendline has a pretty good track record of shutting the bulls down so it seems worth the R/R to get short there with a tight stop.
if you look at world markets, currency markets.. there is a lot more pain left with the trends breaking. it means further unwinding and redemptions globally.
Thanks, but I am only following the principles that others have set forth. In particular, the so-called Trident trading strategy, perhaps the most widely followed commodities strategy in the 1970's. In strong volatile markets, I think Trident works well. Formula is this: P1 + P4 = P2 + P3 P1= pivot high P2=swing low P3=swing high P4= target
I don't buy this rally. I know, its on big volume but EVERYBODY is rahing rahing it. Specifically CNBCers. Now....we rally or even hold these gains without selling off into the weekend? Then THAT convinces me up is up.