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The pullback overnight for now can be seen as a bull flag, so nothing bearish yet.
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feels like a good day for trend day down, wait to see what Europe does and if there is no decent pop into FedTime.....huge ES call open interest at 3950 limits upside I believe, plus OI in puts below here is very low, down to 3920-ish in next 2 hours? or a grind up toward 3948 first?
Pullback to EMA20 as usual, now let's see if this is the down in the morning then up and up till the close day which is a typical slow bull day.
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Breakout to new day high with strong bull bar in the next couple of bars then it could be an uptrend day.
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OK, it's just a range day. I don't think it'd be a double top here but let's see.
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SCHWAB:
"Due to recent market activity, we've adjusted margin requirements on certain securities. Please note, neither Charles Schwab & Co. nor TD Ameritrade halted clients from buying any stocks, or selling any stocks they own, and neither firm restricted executing any basic options strategies. However, we've raised margin requirements on the following securities:
AMC, BB, CVM, DDS, EXPR, GME, GSX, NAK, NCMI, VIR
The following requirements are in place for affected securities:
Stocks:
100% margin requirement for long positions.
300% margin requirement for short positions.
Long calls, long puts, and covered calls are permitted.
Selling short put options is permitted if you have available funds to cover the entire amount of the exercise.
Selling naked calls is prohibited.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
with low open interest in puts, the immediate ES retrace up will be sharper and farther from dealing hedging with each pause to the downside in ES, be wary of selling new lows for that reason
tim-follows wrote:with low open interest in puts, the immediate ES retrace up will be sharper and farther from dealing hedging with each pause to the downside in ES, be wary of selling new lows for that reason
just like this bar here!
seems less possible of maybe another leg down to 3913ish?
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It's the bear's last chance here for today. Probably the range low was in though.
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possible cup and handle here, if above 3933 on 5 min?
next few days watching this nonconfirmation in nyad and volume, could be similar to jan 27...
[img]file:///C:/Users/Tim/Downloads/trade-2020/SFG/jan27%20selloff.png[/img]