When they come back at you that strong take the small loss. I thought for a moment they were going to be able to sustain a move up but that changed quickly. I personally won't take a trade so late in day when the market is moving strongly in one direction. If I had and they took out 77.25 I would be gone. This is why I said earlier I have respect for these markets, trend traders, etc.
0930 was an inside bar on the 30 minute, so it was likely that until the bottom of 0900 was broken would there be a willingness to buy the market. But of course then the trend traders thought they would capture a big down move and they continued to sell every pop up while 0930 turning point or contrarians were buying every dip down. Not until the 1100 Q peak broken sequence came into play are we seeing a little more buying but gridlock still remains. I guess Yellen is testifying but once again I could careless.
If we could see a strong move through 79.50 we likely will have a confirmed 1200 Turning Point Low. However there's nothing to like about today's market. 1200 makes a low but finishes at the top of it's range. Some will be trying to sell it.
Popped up and now rolling back down into 1400. Haven't made a dime today but haven't taken a loss either. Take those break even trades, don't let the market hand you a big loss. Will go long at 1400.