Just another quick update. Futures have been holding yesterdays low but more downside pressure exists here. We are about to breach the low here which would confirm a move towards 870-875 on S&P 500.
If we open at this range here for futures more sell off will occur to hit the 870 range and possibly touch the 868-869. If we can get ourselves above 885 on S&P500 at the open we should have a great chance to get to my upper ranges of 895+
Futures recovering on bad news. More of the same =)
ReplyDeleteS&P currently at 887.
chaugsy you focusing on going long or short today?
ReplyDeletenot sure yet. Waiting until 10:00 to make a decision what the game plan for the day is. At this point I would say focus is long - but not yet confirmed.
ReplyDeletedecision time now. 3 minutes before we know direction.
ReplyDeleteHow's it looking so far? Do you think it'll at least test the 900's?
ReplyDeletewant to see a real retracement first before I make that call. At this point high probabilities for 895.
ReplyDeleteI am long off the low of the day (9:54 entry).
thus far there has been 2 big blocks of selling - no big buying blocks. Being cautious on the long side. Thats why I want to see a real retracement first.
ReplyDeletelooking toppy here. RSI not confirming another push up, previous retracement not strong enough.
ReplyDelete50/50 now
also 5-min bars looking really bad for another push up.
ReplyDeletefully loaded with shorts at 894
ReplyDeleteWaiting for one more jump. While we had our 3 pushes up here, this is not looking like it will sell off. First another few points of pushing.
ReplyDeletenew post with positions.
ReplyDeletehow do you think we close chaugsy?
ReplyDelete