JI
jimkane
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Posts: 33,089
Boy, you need a thick skin to sit through the choppy pullbacks, but if you can do it, it's moving now. It was an excellent read I had (not bragging) that it was about to dump. It really should have moved off that area if they had anything left in the tank, and it didn't, then it started to look real weak.
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, well, they got within three ticks of the RTH LOD, and closed it one tick off the low for the move. Very interesting.
JI
jimkane
Rep: 3,058
Posts: 33,089
M, if you want to do a chart for all of us, do a clean 60-min chart of the S&P cash, showing that same set we've been looking at. Look at where it topped and sold off today. That's the issue with continuous and rollover time for us. Notice the drop of over 4 points for the new contract from the old. SPY was also almost dead on. I usually follow this much more closely, and had I been today, I would have been more willing to get on the short side earlier that I did, back when you asked me. I wanted to work the W2 area if I saw weakness based on how this thing just never seems to stop going up.
JI
jimkane
Rep: 3,058
Posts: 33,089
SPY, too. Well, I admitted that although I follow both of those on the higher timeframe very closely, today I just didn't check them, and rollover is the most important time to check them. So, don't feel too bad, I did it too, and had to try to catch the move on the W2 because I didn't see it. I was waiting for a little higher. That's trading, you miss things sometimes. Live and learn. No big deal.
