Looks like 5 waves up from Tuesdays lows are complete or close to complete, should see a pull back soon.
Trend/Osc is still in bull mode.
Broke discipline and shorted ES today, will probably dump that tonight sometime. Trade was pure speculation and not based on anything other than close to done on 5 waves up and overbought on some standard market measures such as RSI, etc. Still PO'd about TOS situation yesterday, that shaded my thinking today, guess I'm not a rock after all. We are probably due for at least a retrace, but I have rules on if, when and how to play that which weren't considered today.
Thursday, September 2, 2010
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