I'm not trying to turn this into a e-mini blog, but I want to make an observation.
Once the ES hit its retracement, I kept buying it. But I'd get spooked every time it softened. My account was getting ground into hamburger, and I was tired of losing on this, because it would never break out.
When I noticed how the NQ was behaving. It was rising whenever the ES would rise, but its rise was more feeble. Plus, it had a ton of air beneath it, since its own Fibonacci retracement was far, far below current levels (as I pointed out early this morning, several posts ago). So – duh – I decided to just stick with the NQ short and be done with trying to get into ES.
In other words, I think each attempt the ES makes to break above its little basing pattern is simply another good time to short the NQ. I'm keeping my NQ stop at 1333.
