Discretionary Trading
Now Reading
Flying High

Flying High

by The MoleMay 29, 2014

The ES futures are tickling 1914 (our all time high) right now and that suggests we may see a squeeze all the way into the close. We are currently seeing reversal signs across but this is one of those situation where you simply have to listen to price as we could easily see a blow off top before we ever see any signs of a correction. Wouldn’t be the first time, right?

Let me first show you what’s irking me. For one there’s that divergence on the VIX:VXO – it’s subtle however and I may just be paranoid. But then there’s also this:

At least until just recently when we touched the old highs the VIX has been rising along, so someone (i.e. market makers) is getting nervous up here. Plus let’s not forget that VIX Sell signal that’s now on the books (it’s relative to equities, not the VIX). Again, this may just be a fluke and I’m still open to the blast off scenario. I mean the tape hasn’t exactly been acting bearish, has it?

So this is how I would play it – if we don’t run up too high today then we may get an inside candle on the NQ. It’s closely following the spoos regarding strength and that’s how I would try to catch a long setup.

Now if things fall apart I want to be positioned in the laggard which is the TF. With some luck it’ll produce an RTV-S here below the 100-day SMA. Pretty neat if it triggers – but currently at least the odds are low.

Quick update on yesterday’s cocoa campaign – doing well so far and there’s nothing to do really. We haven’t earned one R yet but with a bit of luck it’ll keep pushing higher toward the upper 100-day BB.


It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator