The area at which ES stopped on Friday wasn't accidental at all.

Okay, let's see if this is a real move starting in here.

I wanted to do more follow up posts but just decided to let it go. I 'saw' something when I posted that, and after that, that indicated to me we'd be around where we are right now. I almost posted that I had never seen it look more clear we were about to explode up. Now we face the area/situation rat posted, but also the strong desire for new highs. Once that local high to the left is taken out, nothing stands in its way. I think it is most likely, though, to do a lot of chop and swinging around in here before anything happens, one way or the other. But, that's just a 'guess'. The best play was last night.

Originally posted by jimkane

Okay, let's see if this is a real move starting in here.

Anyway, my viewpoint here, after the long ended earlier, was long again on that dip, and now watching at this cup and handle (seen well on say the 3-min), but very, very nervous because of the high potential chop factor in here. This could be thought of as positioning 'in case they do pop it' and it explodes another leg. It's what one might call a 'wishful thinking' play.

Okay, initial reaction to the Fed minutes is negative. Now the hard snap reversal up?

Originally posted by jimkane

Okay, initial reaction to the Fed minutes is negative. Now the hard snap reversal up?

Okay, now two ticks above that high to the left. 1-2-tick game, or 'the real move'? I suspect the former, for now.

Suspect the former, hope for the latter,

Yep, the former. Total crush give back.

Okay, well another what I think was a fantastic week for trading goes into the history books. See ya all Sunday night. Other than the five hour break on Monday from 10 AM to 3 PM Pacific time, the ES will be trading. It may be light, but they use that to move it, too. Regardless, I'll be there.