Woodchipper Tuesday Rub Down
I think the Zero chart says it all:
Looking at these price swings in combination with extreme gyrations in sentiment and participation I would be a complete idiot to attempt anything but scalp trades as they present themselves. Otherwise good luck guessing the surprise spike du jour ahead of time (although we seem to trace out the famed shoebox pattern).
Program Trading Update:
geronimo/ES: +2.5 (two winners one loser)
That’s all I got for today – no opinions really regarding the short term direction of this market beyond my musings on the prior thread. Yes, we are topping but it’s a process, not a one week affair. The bulls will stretch out the inevitable as long as they can and market makers obviously love the slow theta burn.
Burn baby burn!