i know i said this thread was for week ends only but, we have important developments in the mkts here. So i believe if we do a full retracement or better tomorrow in the ES... then we will indeed break out to the upside... in a big way. And i will be mega bullish. If we only retrace 38% or less.... then many bulls will be sent home in a box. Its do or die here. This is it. 3 weeks of choppy basing will now become strong support, or hard resistance. I went long overnite from 1311 .... I will be very happy if we get a nice retracement. But will bail sometime tomorrow, because overall..... i think the sun is setting on the bulls..... bears are coming out of the woods and they're hungry.
OK, so we did not retrace today. This sets up a huge turning point in the mkts. I got stopped out today with my long. I am now short ES... in a big BIG way. I am so sure its all down hill from here on end, that im staying short over the week-end. Infact this trade is so big for me, that if for some crazy way the ES does retrace past 1315, then i will be done for... permanently. That will be my stop loss... i will hold this position for several days... will be a swing trade. Bulls, your time in the sun is up.
That's quite a bold statement Duckie. As the other Duck (Daffy) used to say: "When you least expect it...EXPECT IT!" ** ** From the Bugsbunny/Roadrunner Hour