Intraday Signals

As you probably know, vs. what I'd like to do as compared to what I've done, I'd like to get in to a nice large trading position whereas I've pretty much dipped my toes in the water, adding a little here and there.

My gut feeling about today is the IWM is on a false start, but if it's not, then the positions I have open are what they'll be and I don't regret that, preserving capital is a lot easier than making it back, so I feel comfortable with where I'm at with some partial positions and some small, speculative calls, I would like to add to that.

In the last post I said I think we get a bit of a pullback. From my retail sentiment informants, it looks like the market/IWM hit levels in which they want to go short, which could actually help get the market to a place I feel comfortable taking on larger positions.

As for some of the intraday signals and why I'm not chasing them, here's a quick intraday look using the Index futures...

 ES intraday looks like it will come down.

The same for NQ

 And TF.

Our SPX/RUT intraday also looks like price is a bit ahead of itself, although a short term signal.

While the longer term looks like a significant bottom which is what the 3C charts are saying as well.

So while it's hard, I am still going to stay patient and be in positions for the right reason, not fear of missing out, but a strong edge.