What a great ride today. 1127.75 all the way down to 1114.50, capped of with a double bottom retracement. Does it get any better than this?
The ES made a new intra-day low by a tick ( 1113.75 ) and then went on one helluva nice squeeze back into the close. Lower lows and Higher highs by just a tick is one of the greatest fade signals known to MANKIND!
Their probably on the sidelines after locking in those nice profits in that big push down from the Shorts of yesterday... High = 1128.25 Low = 1113.75 Plenty of room yesterday with that range to bank some very good points. Those that held their Shorts overnight...probably dumped (trailing stops being hit to protect what was left of their profits). If their still holding...its risky in my opinion. Tomorrow is another day and new analysis especially with all those 0830am est key economic reports NihabaAshi
I'm not picking a "bottom" on the Dollar at all. My reference is to the ES, which is what this thread is about, not the Dollar, or today's bounce in it. Duh.
Waggie, aren't you trying to hunt down our Jimmie Boy to see how his short naked call position is doing today? Looks like a possible worst case close just under ES 1130 and a breakout on tomorrows open barring a bad Intel earnings report after the close. Lots of resistance right here if it can't make it through, though.
You READ my mind, my friend! I agree 100% Looks to be struggling just a tad here into the close, with 10 minutes left in the cash session.