Feeling a little warm? You should. It’s 5000 degrees out there.
First, a little perspective. Here’s a look at the 5 hour bars on the ES, 24 hour S&P futures going back to the October 27 low. Now, in terms of day trading only, because that’s what we do here, what would you do today? Buy or sell short?
Now let’s zoom in to the 2 hour bars. Again, strictly on the basis of day trading, as of the NY open today, what would you rather do? Buy or sell short?
Now, just looking at the usual 1 hour bars, in a vacuum, assuming you had not seen the first two charts, what would you prefer to do on the NY open? Buy or sell short?
Interesting perspective, huh?
For moron the markets, see:
- Is This the End, or Only the Beginning February 5, 2024
- What’s Up with Down Withholding Tax Collections February 4, 2024
- In the Goldrums February 2, 2024
- Swing Trade Screen Picks – Clearing Out the Shorts January 30, 2024
- Fed Balance Sheet Right Now Says Bears Should Get Ready to Rumble January 28, 2024
- Primary Dealers Are Maxed Out Again January 24, 2024
- US Economy Crashed in December – Nope, See Update January 3, 2024
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