Good evening, my awesome Gold and Diamond members. I wanted to do a brief post this evening about this chart:
This is the ES chart, current as of about 7 p.m. EST on Wednesday evening. There are two levels of note:
- 3365.25, which is the higher support level. We are quite close to it now. (Update: moments after I typed this, we slipped beneath it)
- More important, 3550, which is not only the low from last Friday, but just also happens to be the level of the heretofore unbroken trendline anchored to way back on March 22nd. Simply stated, breaking 3350 would be a big deal.
I’ve mentioned offhandedly that I’ve amped up my positions quite a lot lately. I have 61 short positions at a commitment level of 180%.
I’d also like to take this opportunity to thank the tester of the Virtual Trading system here on Slope. Rest assured, my goal isn’t paper trading. My goal is full-blown trading; in other words, the elimination of the need to even wander off of Slope to live a trading life. This is a giant first step, and I thank those taking the time to help me.
