The Squeeze

Forgive me if I’m going to make this one brief – I wound up having a pretty rough day fixing a series of technical problems. One thing lead to another and it quickly turned into one of those days. But enough of my trials and tribulations. Equities meanwhile are climbing steadily – perhaps emboldened by a falling Dollar and some hopium on the news front. Couldn’t just have been that the EUR was forming a base and that conditions were ripe for a snap higher? 😉

Anyway we’re now at an inflection point on the hourly E-Mini – clearly we’re going to see a bit of push back near 2040 but if it breaks above that NLBL the dynamics for a squeeze would be almost perfect.

Clearly the bots are back in the game – compared with previous sessions that UVOL curve is looking smooth and polished. A push higher from here is expected to trip a boat load of stops (mine in included as you recall – at least they are at break-even).

Fortunately copper is making up for the incessant gyrations on the equities side. That little ST entry yesterday already paid off in spates and I’m going to start trailing it at the 2R mark. I think we may have the potential for a runner here which is why I’m going to keep my stop fairly loose for a while.

No setups tonight – I didn’t see much I really liked plus I’m a bit burned out. Tomorrow is another day.

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Cheers,