Yet two trades setup up perfectly. Following the trade-criteria we talk about so many times: A) Buying the 7:00 minor low of the previous session with a excess tail, and B) Buying the morning pullback from highs to VWAP.
The last hour reversal at yesterday's range lows a seriously honorable mention (maybe more so) but I tend to shy away from last hour reversal trades.
Today's consolidation shifts odds greatly for an upside resolution, or so the crew here thinks.
We feature the weekly ES chart tonight for a reality check of just how extended this market is. At this point, even a healthy correction is going to freak everyone out.
We also show tonight how far diverged the emerging markets ETF is. No hot-money, risk-on in the EEM whatsoever.
Gold going to be a rotational buy soon? If the indexes puke, it just might...
No comments:
Post a Comment