CME_MINI:ESU2015 S&P 500 E-MINI FUTURES
The market is continuing her move to the downside. This is why we "WILL NOT ESTABLISH A POSITION ON FRIDAY". We will be watching the Emini and other Indexes for a reversal from the on Monday. We WILL NOT enter a trade without a trigger. Knife catching will kill your account. It is not recommended. Be patient!!!
Hi Will...Yes, it fell through. If you are not long by now then it is much higher risk at these levels. CoolCreekCTA's comment below had a nice entry and target. Pullbacks can be bought as long they don't take out the lows. We are short term bullish but over all bearish long term. Please use a trigger to initiate any trades...it will give you a defined risk...in other words you will be risking a small amount to make a very nice chunk of change.
Great questions...that's the idea...but the burning question is...where's the peak? When we see 100 point swings we will trade for pops into major support/res. We are at one of those levels now...so we pull up stops and see if the bulls squeeze the weak hands or we get stopped out. If we get stopped we will re-assess. If they squeeze'm then we will hang on for the next resistance level around the 2020-2030 area. You always have to be assessing. With the volatility and violent swings you have to be nimble or stay flat until it dies down. We DO NOT take trades blindly off of levels, especially in this environment. Hope it helps.
Thanks CoolCreekCTA...very nice entry and target. We are long a small amount for a bounce only. If they take out the 1948 level then the squeeze will be on and the weak hands will be shaken out...translated...you should get your 66-69 levels fairly quickly. If they don't do it Thursday we may have to sit through a small pullback. Great trade!