Still contained within the RTH down channel, but a break above 33.50 makes 26 unlikely today, imho. 27.50 was rejected pretty hard on high volume, plus Uvol/Dvol is still almost 3:1. Also 27.50 was the exact 62% from yest. low to today's high.
according to the experts, a true hns should retouch the neckline after the break before reaching its target
Why do some people here continue to short this market, never a long trade always shorting, I find this almost misleading to new followers of this thread.
This market? Most of us are traders, not investors. A short at the daily highs today would have paid off better than any longs this far. And now it seems like Volente may get paid for his short after all. I should have known better than to use such a tight stop leading into the FOMC minutes.
looks like the next target is 1390 es, can't believe I am saying that but it could happen sooner than later. The market has completely retraced the 3 bar monthly drop from the credit crisis. The high of that bar was 130.71, good trading.
My view has been long for a while. Now I have a short bias after today's action barring non-confirming price action.