The purpose of this blog is to provide a unique insight into trends that guide market prices. It is intended to educate and show you characteristics about the stock market, of which, the so called "professionals" have no clue. Traditional technical analysis is almost completely worthless and that is one of the main reasons for the creation of this blog. If you enjoy market analysis and information that you will find nowhere else, this blog is for you!
Wednesday, February 12, 2014
That's what it feels like being short the /ES right now. I'm experiencing a much larger drawdown than I should be at the moment. My only saving grace was I did put a stop in on 1/3rd of my /ES position email@example.com. I had a limit order in this morning short that 1/3rd back @ 1822. This is the only thing I seem to have done right in the past several days. There is now significant support underneath the market around 1795-1800. That's the spot, no doubt about it. As of right now, I believe the SPX could trade down to that level and possibly bounce back 1 more time to 1815-1820. I put annotations on the charts explaining what I think might happen next.