See... it is easy to pick a wide 40 point range for the market to trade into.... SPX at 1490-ish at the open today and possibly more.
Staying long ES for now. Full position and when we touch 1515 today, I may close some before we proceed to 1525 and back to 1550....
Quote from kinggyppo: long here $spx.x $1496.53, long xlf $31.06. no stop -------------------------------------------------------------------------------- out $spx.x $1500.14 will hold xlf. out xlf last piece $32.35, thanks XLF.
This price action is quite fascinating. Could we be looking at a Wyckoff thrust? Or a diamond reversal (top) in the making? Hard to say just yet, but either is a possibility. Still short from 1485 in my position trade. Not yet prepared to go short in my daytrading account without further confirmation, but my gut feeling is that 96 was likely the top.