4:00pm Well, I thought I might be able to "sneak up" on a few solid setups by scaling back the volume and telling the market (and my brain) I was on vacation this week, but it worked only minimally due to getting stopped on two sequences I felt fairly strong about: the 10:20am ET climb which quickly blew past prior resistance and the 2:50pm attempted turn south, both of which were pullback entries supported by interim downtrends.Fortunately, the afternoon turn gave traders a chance to re-short for a brief downtrend continuation which I took, yet the stop and tricky turn cost some insurance dollars. As a result, I only grew the chip stack by a very modest +$3K to start this last week of a month that seems to be taking forever to end. Why couldn't last October feel like that??
And so ES continues to play a 850-870 range game as the hourly ADX continues to drop faster than Yankee pitchers.
Let's hope we'll start seeing some emotion in the markets before the All-Star break so we can bring out the heavy lumber.
Right now, this feels like batting with a toothpick.
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1 comment:
Hi Don:
Just wanted to say that after finding your blog last year I've followed your commentary regularly.
Although I realize I don't have either the knowledge or ultimately the motivation to get serious about trading as you do, I find your thoughts motivating unto themselves. Just read your weekend comments and wanted to thank you so much for sharing. Congrats on your daughter, best of luck and wishes to your wife in her continuing journey, and to you for making a difference.
Steve G.
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