sorry about problem with comments, I have just learned that goog has a spam filter for Blogger comments, I have found several from Darren that I now published (sorry about that). My comment from SL and partial profit taking at 1386.5 were gone as well. I am not too enthisiastick with this trade however so we haven't lost much anyway. :(
Hi Pata, The AH doesn't look very bear friendly so far. A retest intraday low at 6PM ET seemed successful. Some decent volume trading (>1500 contracts per 5 min) for ES started aroun 8pm ET could imply someone (not retailer) might be front running tomorrow's gapup. YM already passed intraday high very some good volume. This is a little early than I would expect, why can't wait till Europe market open. I don't know how they are going to sustain it since the night is still long till US open.
Hi Chen, Thanks for your comments, very interesting thoughts indeed. at this moment I am not seeing selling pressure or MM participation on the way down, so one have to assume this is consolidation before more upside, if one only looks to equities. Commodities is another story, which is deiverging for sure, but as you know, divergences may be bullish ( inthis case) if they last too long. As a great trader that i Know told me, dollar run up is also dangerous on this picture, and that danger is for equities bears IMO.
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ReplyDeletesorry about problem with comments, I have just learned that goog has a spam filter for Blogger comments, I have found several from Darren that I now published (sorry about that). My comment from SL and partial profit taking at 1386.5 were gone as well.
ReplyDeleteI am not too enthisiastick with this trade however so we haven't lost much anyway. :(
Hi Pata, The AH doesn't look very bear friendly so far. A retest intraday low at 6PM ET seemed successful. Some decent volume trading (>1500 contracts per 5 min) for ES started aroun 8pm ET could imply someone (not retailer) might be front running tomorrow's gapup.
ReplyDeleteYM already passed intraday high very some good volume. This is a little early than I would expect, why can't wait till Europe market open. I don't know how they are going to sustain it since the night is still long till US open.
Hi Chen,
DeleteThanks for your comments, very interesting thoughts indeed.
at this moment I am not seeing selling pressure or MM participation on the way down, so one have to assume this is consolidation before more upside, if one only looks to equities.
Commodities is another story, which is deiverging for sure, but as you know, divergences may be bullish ( inthis case) if they last too long.
As a great trader that i Know told me, dollar run up is also dangerous on this picture, and that danger is for equities bears IMO.
GL, and keep it safe.
covered remaining at 1390.25 - fed up with it :(
ReplyDelete