funny thing is i sat in traffic for the last hour & 1/2 because of school closings/snow & figured i was tagged one way or the other by the time i got back......done for the day unless we see mid to hi 90`s or lo 60`s.
Hate it when i dont take my own suggestions I was busy watching the CL close and look over and ES is up in the 80's! Any thoughts on an entry short or long from here? I feel a bit late to short or long without confermation. I don't use any sufisticated technicals, buy or sell signals anyone?
I am looking at a ten minute chart of spy, you can translate. If you look at a candle chart, price kept dropping but would not hold hence the wicks. Took a long in this value area, market has risen a few bucks and has had a small breakout nothing to get to excited about. I would be bearish into the close but that is guessing. I am flat unless we get down under spy $1480.00. Do you watch $spx.x along with the futures?
If you have to ask advice on what to do, I have to wonder if trading futures is appropriate at this time. Trading is competition, and the intraday trading of the ES is like the Mixed Martial Arts of trading: you can really get hurt if you don't know what you're doing. Good luck!
bullish pattern on the market right now... long term if this low holds would be expecting way over 1600.. if those lows have a confirmed break.. would expect below 1400. This is on mar08 contract. pivotal time for the market.. time will tell if they can hold it for the rest of the week