ES I am not sure how many boxes I need to check to call a down move but lets say it is 6 boxes, yesterday checked one of them. This said the over night gives me 1/2 more boxes making me a very cautious trader looking for a bit of a down move. Watching 3099 and 3115 as my chop zone and a break above removes the box check marks. Most of the over night inventory is short so a good play would be a bounce up to top of the range 3115 for a possible short. Will also be playing retraces from the impulse moves if they come.
Maybe stupid posting before news but we will see if anything changes. If it does will update
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I did take a small short, made a tiny bit, but we are back in full bull, so now will look for long trigger
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got the post out in my chat room but did not get here in time, when we dropped back into value I said short are ok again to 3103
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Target reached, will see what happens next, keeping a short runner
sometimes i also "need to check X boxes before i short" but other times it works better for me to "Uncheck Y long-boxes" which can trigger a short even if im under my minimum of X short-boxes.
In other words, as i think you said, sometimes the empty white space is whats most useful
alleytrader
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@gb50k, Y are right however may have not understood my meaning about the boxes. not that any of that matters, the over night move has now reset back to no boxes checked.
gb50k
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@alleytrader, for trading i think i want my check boxes to read like the check list a pilot uses before flight or a surgeon before surgery. If yu have the right list, in the right order, most of your flight, surgery and trades should go well. The best checkboxes are not for the things Ineed....those are obviouse, its to rule out the crap that will crash the plane, kill the patient, or turn the trade into a loss. Im probably even farther away from your own checkboxes then before, but seemed like a good Atul Gawande opportunity.
I finnaly understand the "vacation" checkboxes. Picked greaaat locations, but that doesnt guarantee available rooms or tickets. Otherwise you end up in some far away place with no place to stay because you figured their will be plenty of openings. Thats how i found myself roughing it overnight in the Hong Kong Bclass lounge (2nd floor)..
Erland
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It did bounce after news and is now making a quick drop down. There is no new support further rise. Gold is now preparing for a rise thus SPX should go down.
alleytrader
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@Erland, everything is possible, Not sure it is clear but my post did open the door for down move
In other words, as i think you said, sometimes the empty white space is whats most useful