Road to Nowhere

By -

This chart of the /ES tells you everything you need to know about this week:


That is:

Teal tint: churning around going absolutely nowhere meaningful;
Green tint: psych-out for the bulls to make them think a new breakout is here
Magenta tint: psych-out for the bears to make them think a breakdown is underway

So bulls and bears alike probably weren't really happy (or happy at all) with what this week did for them. It was just a big fat waste of time for me as well. I had a few good /ES trades here and there, but it didn't make much difference. And that false breakdown part was a real pisser, since I feel we're in a perpetual state of being teased these days.

I am going to be replacing one of my rules soon, and my Saturday post will probably be about that. I'm going to sign off for the day.