rebound indeed. nowadays usually the very first rebound means the low was in. let's see if today is the same.
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A down target has finally been hit.
There is quite a drop until the next target at SPX 2348.69.
Before entering that volume hole, expect a bounce and/or some back and fill.
We have the 50 day MA and the middle keltner providing support as well.
We are also in the neighborhood of the magenta internal trend line.
The May VIX contract expired at the open today.
Some shorts got absolutely shanked between yesterday's close and expiration.
It will be interesting to see what mischief may be in store for OPEX.
My trigger was hit when the Trump news hit and ES got sold last night.
I have scaled out a profit unit on the R2K position (TF contract) a little while ago and the rest will be left to run.
Depending on how things go, I may take a scale on ES.
I also have some oversold setups that may put on some hedge longs.
2nd leg down was slow so some chances of double bottom here, let's see. bears already did better than usual.
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QED wrote:MrMiyagi, do you see the multiple p-bars (dark pool block trades) on SPY at $240.20?
It looks like they rang the cash register near the top yesterday!
Ah my friends... TD Waterhouse finally migrated all their charts to their new and incredibly shitty system. Alas, pBars are now gone forever...