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MA
MarcinO
Rep: 67
Posts: 5,506
The area at which ES stopped on Friday wasn't accidental at all.

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es 2014 05 18 png
JI
jimkane
Rep: 3,058
Posts: 33,089
Could this actually dump real hard? It's at least on the table now.
RA
rat89
Rep: 0
Posts: 7,015
short this:


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screen shot 2014 05 21 at 2 07 09 pm png

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screen shot 2014 05 21 at 2 11 25 pm png
JI
jimkane
Rep: 3,058
Posts: 33,089
Part of me wants to short as many contracts as my account will allow on minimal margin...
JI
jimkane
Rep: 3,058
Posts: 33,089
But I have this 'thing' right here that says aggressive bounce right from here...
JI
jimkane
Rep: 3,058
Posts: 33,089
And that signal is like 99% accurate (not a real stat).
JI
jimkane
Rep: 3,058
Posts: 33,089
In this case my read is it's more like 100%.
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, that looks like the ramp phase starting there.
JI
jimkane
Rep: 3,058
Posts: 33,089
I think most likely, though, it will just chop until close, with wild swings and traps for both sides.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep, ramp phase. All those shorts are now trapped and being destroyed.
JI
jimkane
Rep: 3,058
Posts: 33,089
Systematically taken apart at the seams.
JI
jimkane
Rep: 3,058
Posts: 33,089
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.