The market has risen furiously and is now above the 1140 level on the ES. The intraday reading on the put/call ratio looks set for a short on Monday, but I would not like to see too much strength above 1140. I will evaluate over the week-end if my initial expectation of another move down still stands.
This last week of trading brings back memories of the last trading days of July. Today looks very similar to the 1st of August:
2 comments:
Did you short the market?
I still think we have at least one more up day at this point.
Tony
Tony,
No, I didn't. I usually enter positions the next day after a signal is registered, usually by fading an initial move against me at the open.
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