Should be a good buy off the Open (posted already on ES journal pre-open). I don't think this is IT. Not yet. Or is this IT?
The buying at the open looks rather weak. I'm waiting to cover half or all of my short below January lows.
Its the same thing. Markets open down huge and bounce...they look a tad weaker the last 20 mins but I'm sure buying will come in. How can anyone resist a 3% huge buying opportunity
I'm just observing the buying has been weak during the past few down days. No signs of accumulation but that could certainly change.
I added SOXL and FNGU for at least a 5% bounce. Sold off My VXX and some SMDD but still short more than long
What do you mean it looks weak? Do you have a way of defining that? We're up 30 points from the Open, yes? In recent history we don't have as many similar days to compare with. But the last time 'this' happened, the day closed higher than we opened.
From a system standpoint I do not. But, I am watching the trajectory of the uptrend and lack of volatility. If they were accumulating I'd expect to see sharper moves in both directions.