heres the daily 6 mo spx,we will hit that 98-95 nip before turning north,the rest is timing ,which as mentioned earlier,not one of my strengths..overall picture filtered down to 5 minutes,then if we do get some momentum,if,you are rprepared and its quick ,you can hold for the larger swing ,knowing where larger s/r is,knowing that all these others are still pushing not losing steam is a great tell whether to cut bait or stay with trade
out at 1205.5. I was earlier once again. Anyways so thats the losing story! Now short 1206. for eod close. ES is not going higher today. There has been so much weakness in the market whole last week, but ES was unable to break 1207-1210 area, probably becoz of traders defending it due to opex. Now, as opex is behind us, we saw today ES broke through last 2 days low. Its game over for the bulls now, at least today. My disaster stop on this trade is 1220 (primarily to save myself from some lightening bolt like swap rate cut 50 bps or so )
As we (most people if anyone?) do not have access to intraday SPX volume at the minute level, much less the tick level as it's an index, do you feel confident in the profile being accurate for the SPX? My profile for SPX daily is totally different from yours, and in fact shows a low volume level around 95-98. Wouldn't using ES be more accurate?
es is more acc but it 's monthly so the math used to convert charts,for instance the mar just started getting volume last thurs,is only a few days old,not sure about the accuracy if we get down to 92,since we havn't been there since 11/30