CME_MINI:ES1!   S&P 500 E-mini Futures
Not sure why I didn't notice this earlier, we got a nice wedgie going again. There's a chance it goes for one more bounce up next week.

Note that the red arrow is target price. Last time it broke a wedgie, it bounced for over a week before the tank.

Nov 08
Comment: Bounced off mu lower trendline perfectly if you zoom in on the timeframe.

The way the computers work, it'll probably finish the day close to that trendline so we won;t know if it's gonna break up or down....

Market is pumptarded, so we could see one more leg up.
Nov 08
Comment: Strong up move at the end of the day surprised me a little, looks like the computers are set up for another pump and dump.

Expecting a gap up Monday followed by a reversal either Monday or Tuesday.

We got that dip I expected and the reversal as well. Nice whipsaw day to screw with day traders.
Nov 08
Comment: Last time the market formed a similar pattern it dropped out of the wedgie on Iran missile attack, anything can happen over the weekend I suppose. But I'm sure there has to be some bad news for this pumptardedness to end. In the meantime, careful what you short.

At this point the risk isn;t worth it to go long either. Just watch the indicators.... they've been fairly accurate so far.
Nov 10
Comment: Chinese market down big on "Hong Kong violence" as if that hasn't been going on for 6 months. We'll see what the Euros do in the morning, don;t see how this "news" really affects anything.
Nov 11
Comment: Broke the wedgie and appears to be doing a back test. Rally appears to be over, I think it's going to whipsaw sideways, not tank but what do I know....

Buy when indicators show oversold.
Yes IMO the futurz is a red herring. Prolly green at open.
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hungry_hippo DaddySawbucks
@DaddySawbucks, always depends on what the Euros decide to do, but keep in mind that the DAX and all Euro markets finished in the red Friday. Euro markets closed before the US market reversal. I don't think it's gonna go up much before open.
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hungry_hippo DaddySawbucks
@DaddySawbucks, of course it all depends on whether you bought calls or puts, lol. If you bought puts then it;s headed up for sure.
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DaddySawbucks hungry_hippo
@hungry_hippo, See below in thread... shorted puts to buy calls, therefore it tanks in the open, tyvm! LOL
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hungry_hippo DaddySawbucks
@DaddySawbucks, lol. Chasing the market again? Indicators are still in the middle, but the wedgie broke. Appears bearish, but the only thing for sure here is a nice whipsaw.
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I shorted ATM puts and used the credit to buy calls
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Yea the 1.62 Fibo is 3124 from 03 Oct low.
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yep, definete wedgie. But it's hard to call it a terminal wedge at this time. It could break and still make a higher lower forming a channel, then continue higher.
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coolioyo coolioyo
@coolioyo, btw look at RTY!, wedge is much more clear.
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@coolioyo, yeah my original chart showed a channel not a wedgie. Definite possibility. This could go on until the next Fed meeting in Dec. We've seen 2 - 4 month market melt up before.
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