Not a good daily & weekly close - absence of buyers, several weak attempts to rally but these feeble buying trades were overwhelmed by
rampant bears. Finally, got that ES 35 handle and 3560-80 is the strong support/resistance zone that I am monitoring.
A loss of 1.86% on net account today - not unexpected since I decided to build a big long position after the market had a ST top earlier this week.
But, a positive September +5.21%, one of my better September returns in recent years.
October has been a BOOM or BUST month for me but I intend to change my trading strategies as I have done for August & September this year.
Will continue building this BIG - very BIG - LONG position, take profits gradually, and then RISK OFF trading after the rally off the lows.
There is extreme bearishness, gloom & doom, but the markets are worried not only about the FED, rates, inflation, etc, but also
about the worsening RUSSIAN INVASION of UKRAINE situation that seems to be worsening.
Added to existing LONGS, need to tons of R&R this weekend and back on Sunday evening.
