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Wow, this pig was sold today, although not unexpected. It's been awhile since we have seen this kind of distribution. They could have saved us the agony of having to sit through 6 hours of nothing for 30 minutes of action. Such is summer trading. As I type this, ES is still selling, however, its catching a bid as the 88.6% of our upmove from 884.25 is giving it the ol' college try.
Yep. Looks like if you were to short the little retraces with 1 pt stop, you might be able to get away with it. It was a down trend day. 928.25 on 2 Jul to 889.00 on 3 Jul. Yesterday's range 29.75 pt. Close to the 30 pt range extension I mentioned in the eChat. BTW, 889.75 is the 88.6% retrace on the daily. 4 tick stop loss against a down day is all I'll give. If you took it, it'll work. 54 EMA on the 10 min halted it currently. See you next week. Happy holidays.
ReplyDeleteSame to you LA...thanks for sharing your thoughts.
ReplyDeleteVO, I have a count for you if you still want it....Just contact me on Mumble or Echat......PDQ
ReplyDelete