Make or break for bulls
Posted 13 September 2020 - 02:52 PM
Adam Mancini (@AdamMancini4) tweeted at 1:50 pm on Sat, Sep 12, 2020:
Have a great weekend! After the 1st two red weeks since March, $SPX is testing multi-month channel support and next week is make or break for bulls
My Plan: Bullish wedge in play. Bulls need to break it out at 3370 which targets 3470+. If this fails at 3285, we're off to 3230 https://t.co/iCmxSRe80H
Posted 13 September 2020 - 02:54 PM
Markets put bottom on high volatility, high volume and fear. What you have seen during the recent 10% plunge was the exact opposite. This period closely resembles Oct-Nov 2018 in terms of those parameters.
Posted 13 September 2020 - 02:56 PM
Weekly plan 9/14-9/18 (**FREE**)
1. Expect some more weakness
2. Orderflow pivot has now shifted to 3403
3. Rallies to orderflow pivot may be sold
4. Now 3323
This plan is free like all other plans
Posted 13 September 2020 - 04:25 PM
The S&P was down almost 100 points."
Posted 13 September 2020 - 04:28 PM
In the last 6 weeks we've had a few pattern changes.
1) QQQs broke the channel from April.
2) Naz had its first string of 3 red days (mid Aug). Second one last week
3) SPX had consecutive red weeks for the first time since March.
Posted 14 September 2020 - 06:04 AM
two weekend hedge nq longs were quite beneficial. .. total of 360 points profit since Friday's close
Closing one +82 points
holding the next one for most of the day ... depends on market action
pajama traders again got the best market moves but sine 4:50am not too and, one good short trade and 2 longs.
will update current positions later
Edited by dTraderB, 14 September 2020 - 06:04 AM.
Posted 14 September 2020 - 06:57 AM
closed remaining weekend nq hedge long, will now trade DEC index futures.
will reopen nq hedge long positions later.
Posted 14 September 2020 - 08:32 AM
Late start decided to go on a road trip last minute. Still have my long from 3310 on, did check it earlier and now with the cash open I'll put my stop at 3350!
Edited by 12SPX, 14 September 2020 - 08:32 AM.
Posted 14 September 2020 - 10:21 AM
ES DEC contract about 10 points BELOW expiring SEP contract