Certainly. but I had already made a lot of money on the upside and am looking to do so again when I see the weekly gives me good signals. --Until then I will not be in a positional long. There are numerous long opportunities that are position in nature ie swing trading etc.
it`ll be playa del carmen for some margaritas & senioritas....nice pic. market gyrating just like i thought it would in that 30 min wedge....stair stepping it up on light volume to 80/90 where i`ll be a seller on a position basis.
yeah, lol, that coast is heaven on earth in my view, no wonder the Maya choose to build a temple to observe the Universe there. ideal thing would be to trade and walkout onto the beach, our modern day lives are inherently unhealthy.
cash, MA's signaled a buy and hourly chart looks consolidative. edit: Ideal buy point would be 1430 or lower.
looking at historical market bottoms, its very rare to have a 'v' bottom where the market doesn't look back. this price action from the bigboys, is signaling a look back phase, where we try to probe the bottom to 1390 on cash or futures. But notice it will be on diminished fear/volume levels, so the bottom will snap back pretty hard back up to 1480. So its a engineered look back. The hourly needs to break the previous bar high. Otherwise market rolls onto itself. edit: it will be perfect climate for a preemptive fed cut.
What happened to all the rumors about a surprise cut today? I think a cut will have to wait until next week (if they do one at all before the meeting) as it is almost noon ET now.