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Posted 21 May 2020 - 10:58 PM
Bears finally get a bit of action overnight...NQ back down to the key 9300 level.
If that goes by the way side, could be ugly tomorrow....
IF ES does not close above 2940 tomorrow, bears likely will have the ball back...
Edited by K Wave, 21 May 2020 - 11:00 PM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
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Posted 22 May 2020 - 12:09 AM
Hmmm showig a nice +30 point profit think I'll lower the stop to 2920 call it a night then to place new highs above while I sleep!
Member
Posted 22 May 2020 - 06:49 AM
UVXY never made a new low, and now showing first signs of possibly turning back up
arbitrage in levered fund, ya can't go by that.
Member
Posted 22 May 2020 - 07:25 AM
And starting to build my shorts for the weekend averaging in so far at 2941.25 on the ES! Kinda surprised we came back so quick this morning lol!!
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Posted 22 May 2020 - 08:50 AM
Actually just took them off for 2935, $6 profit, we'll see what happens start rebuilding around 2940 again maybe!
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Posted 22 May 2020 - 09:03 AM
Back in for a short on the ES average 2940.75! Think I'll hang onto this one! Love the action though when you see both call and put premium moving down lol!!
Member
Posted 22 May 2020 - 09:11 AM
I 'm doubting it will get back here but just in case, profit stop right at 2940.
Member
Posted 22 May 2020 - 09:13 AM
ES held hourly 200 overnight... now bulls need to reclaim 2940, and they still have a shot at taking it out the top soon....
IF they do not do it pretty soon, then they may be out of gas.
But I keep looking a the shape of that tight Dow wedgie after the initial pop up on the 15 mi chart...and that kind of thing "usually" resolves upwards, sometimes dramatically.
So this could be the little fakeout down, before it roars upside...as long as it holds the 200 on any drop, bulls still have ball
In any event, that super tight wedgie should soon soon be able to be used as a nice dividing line...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 22 May 2020 - 09:18 AM
SOX back above yesterday's floor area around 1792 might be first sign bull trying to re-energize after the drop.
Consistent action under 1775 could mean the party is over there, and would likely begin to drag down everything else
Just scalping quickies until the picture begins to clear up...should be pretty soon...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
