Bouncy Bouncy 2.0
Bouncy Bouncy 2.0
10:04am EDT: Oh, 912 wasn’t good enough for you, huh?
Alright – I see a wall of support underneath and of course the 900 mark is psychologically sensitive to those simple minded mouth breathers. Of course – nothing is guaranteed – if we breach through 900 I have my eyes set on 880.
If you were short all the way to here count your blessings and buy back into weakness. I for one will do exactly nothing right now – this is the time to wait – not to trade.
10:48am EDT: Wow, ES futures just dropped below 900 for a few seconds. I don’t see a divergence in the Zero – it’s looking bad for the bulls.
10:53am EDT: So far we’re holding – the ES touched its S1 pivot with one tick and then bounced back. So, 899.25 on the ES should pose some support for now.
11:19am EDT: ES is at VWAP now – trying to push above 905. If it succeeds (after the obligatory head/down fakes) we might actually see a rally today. FYI – NQ is leading – already way above its VWAP – it’s looking better for the bulls.