Monday, February 25, 2013

ES and NQ

I'm a bit nervous to open puts this early in opening market action, I wanted to see what the QQQ/IWM looked like and I'm still on the fence, but I'm considering a partial position that I might be able to add to later, I will of course let you know as well as the fill on the Calls just sold.

Here's what the NASDAQ and SPX Futures 1 and 5 min charts look like.

 ES 5 min is getting very close to a short signal

 ES 1 min

 NQ 1 min

NQ 5 min is close, but not quite where I'd like to see it for weekly puts.

I think either a small phasing in or some patience is the right course here, I'll stick with patience for the moment.

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