How about Jan 12 as an analog for today. Solid AM drop turns into chop around 11, then after London/Frankfort close starts a steady climb to put in the days high at the closing bell. Anyway that is the sort of pattern my brain is always assuming these days. Oh and sometime soon a tweet from Zerohedge that they are smashing the VIX or the Yen/Dollar algos have been unleashed Sigh, Janet needs some new script writers.
There was our V shaped low in ES. 58.50 was the lower high then above that Friday's low and maybe it is 'off to the races'. Or we just chop around all day as serious trades say "I'm out of here".
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1st test of ema20 in 2 hours, let's see any sellers here.
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Adam Grimes explains on his blog today why Cobra's methods work (measured move)and also touches on ideas expanded on in Michael Lewis new book (instinctive heuristics). http://adamhgrimes.com/blog/trust-gut-p ... rtreading/