So was your comment directed at JB? When you stated "and that will have to unwind before bears will relent..." I was thinking you had something specific in mind about the way bears reacted at the bottom.
It's far too early to tell. Only when it breaks above the right shoulder at 46-ish, can we be sure. There are way too many bears who are bent on crashing the party.
ES won't go to 54.375 breakeven for jb until after lesser pained underwater bulls likely puke or possibly exit flat breakeven. Too many bulls in denial about their position cost, but still not hurting as bad as jb. These layers significantly limit upside potential. edit...obviously there are some bulls in worse shape than jb.
Not to sound like an A-hole, but anything can happen. I've stated way back on Sunday that this week will be a nightmare. I suggest you go back and review the steep drop made in August. I see lots of similarities. On that note, be sure to place the damn stop. You'll thank me later.
Made a comeback to my ever-glorious Spit & Shine splendor today with 21 points or $1,050. There were some hiccups along the way, including being stopped out, deviating from the plan and exiting early, and being equally dumb not not to have gotten out with a profit when I had the chance. However, who's complaining? Code: Today's Trade Stat No. of Trades (Round-trip)*: 3 No. of Winners: 1 No. of Losers: 1 W/L Ratio: 1 Avg Gain: 27 Avg Loss: 6 Cumulative P/L: +21 Points * Breakeven trades have been omitted $300 Daily Challenge (1/04/16 - 1/29/16) Winning Days (>= $300): 3 Losing Days (< $300): 1