Tonislonis

TRICK OR TREAT - CORRECTION PLAYBOOK

Short
CME_MINI:ES1!   S&P 500 E-mini Futures
Hello!

I hope many of you have been prepared for a pull in the indexes. The whole move lower right now is fueled by the fact that nobody owns protection into November, which is crazy considering there are elections coming, and now suddenly all the fund managers and retail crowd are slowly starting to realize it. The correction is very much needed to let some air out of the overblown equities market.

I am expecting a pull below /ES 3200 level, which is then going to be followed by a multi-day squeeze to punish some stubborn bears getting involved. After that, catching the short ain't gonna be easy and there will be all kinds of games being played by different market participants. But at the end I am expecting us to bottom near the /ES 3000 level.

Good luck!
Tonis
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Comments

Incredible analysis! What's more incredible is the profile pic! haha, love it! :)
+2 Reply
I agree with you in case the support in front of him is broken, he will head in the same scenario that you set
+1 Reply
Well said.
+1 Reply
it is a bit drastic to go to 3000 but it could
+1 Reply
StayPhr0sty donkingheroe
@donkingheroe, 2999 just to screw with us
+5 Reply
, bn@.
Can*%2@ I*,06Q// /2*03*/0/9X3
Reply
I agree I also see a 20k Dow.
Reply
thank you
Reply
Great analysis. Looks like we are in the same trade.
Reply
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