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On ES I have two high probability setups looking for a retest of the high, which are the bull flag megaphone that has broken up and the failed ATH, though as ever during the last few weeks, crossing the few handles to that retest is taking a while. On SPX this is a backtesting of the daily middle band, which is holding so far. If SPX should break below it and confirm with another close the next day then the high would likely be in, but until then I’m still looking for that ATH retest. SPX daily chart:
I had an interesting experience this morning I wanted to share with everyone, particularly since by telling the story, it may save someone a panic in their own trading.
I entered the day, as I always do, short a large number of individual equities. One of them was symbol FTI.
On my portfolio screen (Interactive Brokers), it shows all the stuff you’d expect – – symbol, entry price, quantity of shares, value of the position, and net profit/loss. In the pre-market, the P/L for the day is usually $0, because there’s no trading in most securities, although a few outliers will have information.
After a long weekend, I’m still trying to get my ducks in a row. Thus, I’ll share with you a little something which appeals to my offbeat sense of humor. There is a whole series of these, all of them with precisely the same plot.