ES has to take out 994 or so (62%) to start looking up
Yep, it did it, but the wave structure is either corrective at this point, or is making a pretty good imitation of a corrective series of "threes". Take a look at the hourly BBH or INDU - they seems on the way to make new highs, but on falling momentum, as shown by MACD or RSI. My approach misfired recently, but it worked in the past and will probably work again.
That said, I think that tomorrow after the first hour of trading I will tighten stops on the few of my remaining shorts. Will keep some June and July puts - as "crash insurance". That's the story. The market is showing amazing strength.
Wondering, what to do with my bunch of CORV, AVNX, SYNA and some others. Tempted to sell, but recently, keeping my hands off them worked nicely... –g. |
