We were expecting a strong rally early Friday if ES1050 and VIX 28 held, or a breakdown if they didn't. Guess what?. Both things happened. They broke down 1050 and generated a climax selling on monster volume. The following furious rally was the concecuence. Of course few traders caught it so many of them (including me) are waiting for a good opportunity to get in.
Going long at 106x is not a good idea to me. I'd wait for a pulback to get in or wait for higher prices to go short (IT BEARISH trend is alive and ES1030 is to be tagged )
Green path is my preferred one
