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Friday ripped higher, but the move was really not a surprise as I had outlined a target of the $ES 1802-1803 zone with a risk upside of 1806-08 in the published daily trade plans. Where we are now: The trend is your friend they say and remains so. On the surface nothing has really changed. Markets pull back slightly for a few days at the most and rally right back […]
Friday was a ripper, but the move was really not a surprise here. In my trade plans I had outlined a target of the $ES 1802-1803 zone with a risk upside of 1806-08. In good old bull fashion we got to 1805.67 and we profited nicely with long positions. So now what? First a look at what the market has done in the short term. As you can see from […]
As the $IWM disconnected from the $SPY today I posted a tweet with the following daily $ES chart with $ES at 1808.15 suggesting a short trade with a stop above. Why? Simply the $ES had moved under the daily trend line and was in the process of retesting it with $IWM off over 0.5% indicating a large divergence. Interestingly enough many seemed little bothered and kept on buying $SPY for […]