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We know emotions are running high in the market with all the news but we have not taken out symmetry support. Looking at the NQ,TF,ES and DOW all the symmetry supports are above the 50% which means if we do turn here the market is still very bullish.
If this is the bullish pattern that fails we will fall down into the bigger support area around the 1140 area on the ES.
Happy Trading,
www.eMiniSchool.com
I only have a moment, so in a nutshell:
+ Almost every individual stock I am watching is vastly oversold;
+ I have lightened up considerably on individual shorts;
+ I have three very large positions – LONG QQQ, and SHORT GDX and GLD
A huge bounce would be a godsend at this point. Something that lasts into next week would be the shorting opportunity of the decade.
