Looks like no economic news can stop the bulls these days. It would have to be something much, much bigger, but also then they may use it just as another buying opportunity on the way up.
For now let's see how they cope with some little overhead resistance somewhere at current levels:

shorted open.. was filled one tick from turn... stop break even.

That might be the trade of the decade, timing-wise, congrats.

Originally posted by roofer

shorted open.. was filled one tick from turn... stop break even.

For you ES traders (like myself) who trade regardless of time, let's sequentially review my posts from last night. You can look back at the time stamps on the original posts to see that the concepts were posted before the things mentioned happened.

"Watch the obvious TL on the way there, it hits around 1218, depending on the time it takes to get there."

"All that cool stuff above being said, I think this is most likely a correction, perhaps a flat/4PT hybrid, and up it goes. Based on the look of it right now, it will be at new highs very soon. Just a thought."

"I can't see any way the market doesn't just love this. New highs should be on the way soon."

"Remember that TL I mentioned. It has moved up a bit over time, and was just hit there within a tick."

"5 points straight up off that TL, which was also a .786 ABCD."

"3.25 points from the high for the entire 'bulls#$&' market. Can't imagine they won't be trying for that."

"Not to mention three successive and prominent swing-highs just to the left to stop run..."

"Shouldn't take them long..."

It all played out as expected. 1235 was hit, some 16 points off that .786 ABCD and TL area, with essentially no letup. It even did something my students will recognize as it neared the end of its run. Notice the clustering of price action as it kept trying at that overhead TL for the swing-highs, and how it backtested that line after the initial break, before it cleared out the stops and ran. Crude, meanwhile, basis Feb (front month Jan) hit 91.17, gold 1432.50, copper 413.50, etc. This was all as expected. Hopefully, I'll still get a chance to be a buyer of gold under $1,000...

Anyone notice today's RTH LOD was less than one tick from the major .382 (and a 'retest' of the breakout point)? Not to mention dead on a key set line to the tick...

I'm very wary of this 31.75 area. If it rolls off that, that would be a big clue for me. On the other hand, if it did it may set up a really nice ABCD back in the previous correction area.

Most of the comms are not producing the reactions I would expect on their initial pullbacks if they had more gas left in the tank. Just something to be aware of.

ES testing that 31.75 again. I suspect it will break through and continue the grind up off that key area at the RTH LOD.

And right as I hit post it does...

Staying intraday long side bias off that key area. I can't imagine they don't get a new HOD and new high for the entire 'bulls#$&' market. But, you never know...

.786 at line really turning this down. Back to 'trend'. We'll see what they do here. Looks like a big dump coming, though... Then again, that's exactly how they try to make it look to suck people in before they gun it up.

It had to get one tick higher! That also got it to the exact 1.272 at 36.20 on that ABCD. So, we got a weekly close essentially at the high tick for the week, the month so far, and the entire 'bulls#$&' market. Those poor bears, still trying to call the top. For me, I'll just keep creating 'ride the long' plays.

It's the bulls time in the sun. I'm not going to fight that. I just saw in a Bloomberg survey not one single analyst was bearish on next year. 100% bulls! I'm seeing 'breakout' and acceleration calls everywhere. Sentiment is extreme for the bulls. It can get more extreme, or stay extreme for a long time. The $VIX is dragging on the lows, but can get lower.

Midcaps one good trading day from new all-time highs. Russell, Transports, etc. right behind Midcaps. The entire drop from the crisis erased, new all-time highs. Unreal. It's the bulls time to shine. Let them enjoy it, as it won't last. The bears will shine again, just not today. Goin' with the flowin'...