Slow grind higher. I would expect 3740 to be the upper end of the range and dips to be bought.
Yesterday we saw an underwhelming move after the FOMC announcement. However, we did break higher and are now clear of the 3690 Value high level that we had been pinned to. I don't see any reason why we can't continue to move higher, with 3740 now in the crosshairs, as long as we can stay above 3690 on a retest (if we even get one). Good luck today and...
Big day on the news front today. I think it's best to be a spectator this morning. I don't expect much movement from 3690 area until after the announcement at 2pm eastern. I'd still think the buyers have an edge on which way this breaks.
Markets dipped yesterday and have come right back to the thick area at 65 this morning. I would expect chop and the market to try and get back to 90 at some point either today or tomorrow.
Late to the ballgame today. We will have our class starting soon, so I'll skip the writeup.
A look into a pretty simple view of the market that I think will help you be on the right side, more often than not.
SHakeout the longs yesterday, I will get back on the long train here. I feel like this trade is wrong in the mid 3620's
Couldn't have been any more wrong about yesterday, but when you trade in the direction of the trend, you're going to get the benefit of the doubt more times than not. Yesterday was a classic trend day, when I was expecting a smaller range, but if you lost money you were probably playing countertrend. I'm staying long until something changes.
Today is a day that I'm going to play a bit contrarian to what the trading books would tell you. Risk reward will not be that great, but I don't expect to see a directional move, so i will widen out the stops to make sure I don't get stopped out in noise, and look to take a bunch of smaller trades to capture what I believe to be an inside day between two levels.
We had a dip overnight into a high volume area and saw the area act as support, as we expect. I will continue to look for opportunities on the long side.
Late here so I"ll skip the long message. Trade worked yesterday and I think dips will continue to be bought to 3700.
Same as always, i'll be buying dips until it proves me wrong.
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.
3620-3640 is what i would consider 'balance'. Anything in that area I think is just noise. I would expect this balance to resolve itself to the buy side, and eventually try to break towards 3650.
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.
I see prices moving back into previous value area today, as traders remain optimistic, but decide to take some profits ahead of the holiday weekend. FOMC minutes released today.
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. www.cmegroup.com I would expect the market to stay between 3650 and 3600 today with a skew in the direction of the trend, which I believe to be up...
Upon open of the overnight session, prices quickly moved into the next higher value area from the previous week. Still anticipating a market migration up to 3620, albeit on likely lower volume because of being a holiday/short trading week, I got in at 3600 with two MES contracts, keeping my stop loss (3585) and sell limit (3620) order pretty tight.