The ES1! paid us well on our last trade (see post link) The only mistake is we didn't press it into the mid 1800 levels. Now the bounce is on. Here are some levels we are looking at for the next week. If we creep above the second resistance area then the bulls could step in and try to squeeze the bears.
The ES1! is treating us well. We almost got both targets on the same day. So we are still holding half our contracts. From our original post we have moved our stops down to protect gains. We are expecting a little bounce before she rolls over again. FYI...we will do what we can to protect the gains of the second half of the trade while giving the market...
The 6J is still dead. The "experts" think they can guess the direction. Most got stopped out on the most recent break lower. Head fakes will kill your P&L. Don't let the pundits lull you in to a stupid trade. We are still on the side lines with the $J61!. There is NO edge. Be smart and keep your powder dry while waiting. There are better trades available.
The more time we consolidate below the most recent highs the higher likely hood we continue to the down side. That being said there is alot of unrest over seas and that can have an effect on the markets so be nimble.
This is a nice move in the NQ1! If you weren't positioned short last week you most likely missed this move. We were not short and since all the indices are heavy we will aggressively be shorting any bounces. Part of being a successful trader is not being married to one side of the trade.
Bearish deep crab. Target 1 at 14244.45 23% fib level. There is also strong support around X highlighted in red. If sellers can push through, I'll be looking for 12744.77 as my target 2 at the 38% fib level