Gap down below yesterday's low but it's NFP day which suppose to open low close higher so I don't know if the gap will be filled or not. One thing is certain though, assume we open right now (and later the deeper it drops the more solid the evidence), it's enough price overlap (as I discussed in the last couple of days) to prove what we had in the past few weeks is (was) merely a rebound, it's not the start of a new bull market.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
5 min ES chart looks like a bear flag, waiting for the moving averages to catch up. Could be wrong, as it could be some sort of bottoming action. Anyone have thoughts?
Its going to be a great day for all the people short as the action from the last couple of days everyone has been discussing here has been pretty obvious to go short at 1230!
Currently still holding the following puts:
NFLX Oct 240 Puts
CMG Oct 310 Puts
ANF Oct 60 put
GOOG OCT 545 Put
stucap wrote:5 min ES chart looks like a bear flag, waiting for the moving averages to catch up. Could be wrong, as it could be some sort of bottoming action. Anyone have thoughts?
Cobra, After following your blog for nearly a year, and your most recent Market Outlook, 9/1, is the best I have seen. It is concise, comprehensive and well balanced. I like the TA with the stats. I also like the "if this, then that scenario". The Market Outlook is balanced with market psychology and economic indicators.
Brilliant. Thanks for sharing your insight.
Its going to be a great day for all the people short as the action from the last couple of days everyone has been discussing here has been pretty obvious to go short at 1230!
Currently still holding the following puts:
NFLX Oct 240 Puts
CMG Oct 310 Puts
ANF Oct 60 put
GOOG OCT 545 Put
GLTA!
With the after hr. drop on NFLX yesterday you are doing great.