frodo75

ES next 3766.25

Short
CME_MINI:ES1!   S&P 500 E-mini Futures
That is what the chart says. Let's see if we get there.

Comments

I hope you are right, but at this point I am just about ready to give up. It is beyond nonsensical in so many different ways, it's like a piranha feeding frenzy every green day with everyone leveraged up to the gills in their positions. I hope this is peak euphoria for the time being, this is starting to get scary and has cost me quite a bit betting against it and buying vix futures. I just don't know what is going to make the music stop, bank earnings are coming out next week and they will surely beat estimates because their earnings are always underestimated. I am in shock.
+1 Reply
frodo75 stonkasaurusrex
@stonkasaurusrex, The issue is lack of sellers. Only big sellers can move the market. Clearly, they are happy holding on to the paper. However, TA has shown that however incredulous the market moves feel, there is always a pull back just as incredulous. So, hang in there. Don't lose all the money so you have nothing in the bank to play when it comes down. I have a slightly different channel if the market goes up to 4140 or so early next week.
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Karam08 frodo75
@frodo75, I expect a pullback is near. But, not sure we're expecting the right catalyst for a big enough correction. Pull back closer to 3918 - 3960s range seems more likely from your chart. Which could be a triple trend line bottom I feel for another re opening bull insanity
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Karam08 Karam08
@Karam08, @frodo75 or one more trend line bottom bounce and could be a wedge fill, higher highs higher lows trap for a fail and bear take over.
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Karam08 stonkasaurusrex
@stonkasaurusrex, 😂 don't get upset with the market, just play the market.
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Why does the chart suggest this out of interest?
Reply
frodo75 Chicama
@Chicama, Did not follow you brother. Can you rephrase?
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