Looks like wave 3 of C started today. Wave C = Wave A at ES 969.75.
Went short ES this morning based on an apparent divergence in the 5 minute V Stoch, market immediately moved sharply higher and took me out at my stop loss point, and it also overrode the apparent divergence.
ES sold off steadily this afternoon. The 30 minute V Stoch is in buy territory signaling the approaching end of subwave 1 of 3, hopefully we get a wave 2 bounce that provides a decent entry for a short play.
Al, I sold my 3000 SSO longs today at a loss. paid 38.06 and sold 35.06. Put on a short via FAZ around noon and added SRS at the close. The SSO's where hedged 50% so the loss is manageable but still a punch in the stomach. Full short now but not totally convinced at the close.
ReplyDeleteI'm with you, something real dissonant in recent action and I can't quite put my finger on it. But it is what it is, and it looks bearish at the moment. I lost money today also, not a lot.
ReplyDelete