I always warn that a dull market is a dangerous market, it's like the kids being too quiet in the next room. I have a lot to look at, but just looking quickly at ES, I don't see any reaspn why the initial thoughts from last week, yesterday and this morning shouldn't hold. However, even though I have a lot to look at very quickly, one thing I do notice is the triangle meaning a directional move is coming-the strength we have been looking for short term with the internals falling apart? I believe so.
One of the most notorious areas of accumulation or distribution is in to flat prices, they are pretty much right at VWAP which is where execution of orders is considered a suceess, bearing that in mind, here's ES
ES at weekly VWAP all day
3C 1 min
3C 5 min
I'm just guessing, but I have a feeling we'll have to make some very quick choices in an environment that psychologically will not be easy, but none of the great trades have been easy to enter.
I have a lot of work to do, I'll get to emails as soon as I can.
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