Anyone who has traded this market successfully since Pfizer Day is a genius.
I am not a genius.
Yes, they are. They have come back to celebrate the holiday.
It won’t be safe to trade until the market gets through certain levels, one way or the other.
Nice little pullback yesterday. But 3540 and 3520 on the ES are both important support levels. We should see a bounce from one of those. And if not there, then major support at 3510. I wouldn’t get too excited about this pullback unless they take that …
Dare we dream? Two straight down days? Nah.
Well, doesn’t this look head and shouldery?
Two operations yesterday. Be prepared for what’s coming.
How could that be? I’m putting the finishing touches on a report that explains it, to be posted in Liquidity Trader in two parts. The first will be up early this morning, and the second a bit later this afternoon.
Meanwhile, back at the daily funhouse..
It’s an illusion. I am not out of sync. The market was out of sync. 😄
The chart pattern on the ES fuctures over the past two days is unintelligble gibberish. The November uptrend is broken, but a downtrend hasn’t been established. Instead the past two days have seen a messy, tight trending range of mini-cycles lasting less than a day. Great for trading 1 minute bars and not much more.
But here’s the thing.
It’s still bullish. Take a look and see why.