Possible High

It is very possible that we just made a short to mid term top in this range here. I was expecting us to get a few points higher but I believe we topped on the short term. I currently hold no position but am looking to go short again for the next 5 days at the minimum.

We have 2 scenarios that can unfold here, a standard pull back towards the bullish daily moving averages which is step 1, and a potential for a much more bearish formation that at this point I will give little credibility.

The afternoon and tomorrow morning will be a deciding factor for the next 1-2 weeks. I will post a more detailed update tonight or tomorrow morning with a few more technical justifications.

Short ES again

Trying my luck again as per twitter. Bulls are in control hence a tight stop on this position.

Long time no talk - short ES here

Been quite busy with work but following the market every day. Been a very patient bear in hiding but came out today and just opened a new short position via ESZ10 @ 1118 with a stop of 6pts.

Wish us luck =)

EDIT: stops will likely be adjusted within the next 2 hours.

11:11AM: stops moved to a tick above HOD

11:18AM: we will likely see a retest of the highs today with a potential for a marginal 2 pt higher high. Will keep stops a bit flexible on part of the position.

12:25PM: stops at breakeven now and "walking away" - this should be setting up for a move towards 1102SPX and possibly into the 108X next.