I abandoned my computer late last night quite nervous the markets might break out. The ES and NQ minute bar charts both looked like they could complete a fairly well-formed inverted H&S pattern and push up to the next Fibonacci level.
I was relieved this morning to see the Maginot line was still holding.
As this line holds, its import only increases. I'm sure there will be a day before long when we do burst higher from these levels, but for now, I remain a holder of my short futures positions and my long put positions on DIA, QQQQ, and IWM.
