Thanks for your commentary atticus with information like this I will be ready to take more of your money tomorrow.
@volente_00 My stop is currently now @1282 right above a resistance level. They can hit it all they want I have already hit two profit targets and my stop is below break even so even if it reverses I get 7 points on my last two positions. If the market shows a long I will go long but for right now I am short and will keep holding it until my last target of 1250. My next target is 1265.75
3:55pm, 104k contract trade at the ask for ES. Someone big covered. CBOE equity put to call at 0.97. Short is getting crowded.
Based on my channel system we are either at temporary lows or very close to them. 100% bullish from this area. FoN
I think we see a flush down -100 or more on the dow then we rally hard to 1295. The last 3 days have been very rotational. We don't bottom like that. We bottom on capitulation. Once we see a small panic we should rally hard.
Not all bottoms are created equal, also if the worst selling SP500 session in the last 2 years is not capitulation, I don't know what is. Capitulation may happen slowly does not have to be a one day event, although I do agree, it tends to be brutal more often than not. FoN