Window dressing late in the day saved the longs, but unfortunately for me, I was flushed out on the original push down.
Same kind of story today. Long and strong, likely to see us move towards 3700 and the beginning of the Santa Claus Rally.
Keep an eye on VIX, its now below 20, which indicates a market that has lost the fear that we saw for most of this year.
Horrendous relative volume overnight, likely a slow today.
I still think you're on the right side of it if you're long, so it's all about making the reward for risk work for your plan on your timeframe.
Day before Thanksgiving in the U.S. will probably mean slow and low volume, particularly later in the day.
Here is a link to the holiday calendar for the CME, so that you can see what the trading hours are for you.
I would expect the market to stay between 3650 and 3600 today with a skew in the...
I'm looking to buy dips for a ride to 3600.
VIX is getting crushed, options data is pointing to a mean reversion type trade. It's always better to trade these mean reversion type trades in the direction of the trend, which is long here.
Vaccine news has pushed this market up 4+ percent.
Since we are at all time highs, better to sit and watch the open and see if the buyers can gap and go here.
3550 is around the scene of the crime for the vaccine news. Definitely an area to keep an eye on.
More clarity on the election here, as it looks like it's going to Biden.
Keep an eye on VIX today, if it continues to get squashed, we will likely continue moving higher.
I, however, am skeptical. We are at the high end of the range we have been trading in since the beginning on September so I would be careful just blindly buying here.
Things can still...
I won't take a directional stance here, it would just be a guess.
What's important to understand here is that technical levels are pretty useless when the volatility comes in following the election.
Good luck and enjoy the volatility!