Rinse, repeat, rinse, repeat

OEX 20 YR Monthly

OEX 5 YR Weekly

I have been battling a serious infection over the past week and only now am I able to see the light at the end of the tunnel. I believe I see a very ugly bear that is a bout to swipe off the markets's face. In a seriousness, I have been very ill and unable to comment on the market's action. While I can't talk because of the tracheotomy, I am feeling much better and my understanding is that I should be going home in the next few days even if I have to wear the trache. I have apparently gone through one of the worst, if not the worst,  lymph node and lower jaw infections one could ever aspire to. The pain and level of uncomfortableness I have experienced is definitely at an all time high. 

Even through all of that I have taken a few brief moments everyday to analyze the markets. The OEX charts show where we are now and where I expect the markets to trade to over the coming days and weeks. My levels were hit overnight and I'm now 300% Short the /ES from 1740.25. I will not be covering this trade early. With the multiple attempts to break out at these levels, I believe that when the market turns, it will not give traders easy opportunities to enter on the short side.

Covered /ES short @1682 from 1696.75

There might be a few more points on the downside tonight but I am under the weather in bad way.  I think I will have better prices to short from in the coming days.  Too tired and sick to watch the markets all night.

Short /ES @1696.75

I think there could be 15 pts or so in this trade. Volatility should pick up again soon.

/ES 4hr

covered /es short @ 1775 from 1787.50

We'll see how tonight goes. It wouldn't surprise me if the lows for the evening or in.

/ES 60 min

Short /ES 1678.75

This is just for the last hour of the day.  Only looking to grab 2-3 points. Very quick scalp.  This trade is produced from one of my RSI studies over the past 90 days.

***NOTE*** I messed that trade up and lost 2.5 points. The RSI did not close the hour above 90 which was part of the study.  However, where the market is now (at 1687.25) the RSI is just under 93

***NOTE*** # 2  ==> I re-entered the short side @ 1687.50. This is more discretionary and I will probably try and get 7-10 points out of it. The key will be if the market can stay below the HOD (1687.75) going into the final 15 min. of trading. If so, we could give back 5-10 pts into the close

covered /es @ 1674.25

this might have been a mistake but days like today usually trend all day. That is why I took a small loss. I'm looking at a couple different indicators that could shed some light on where the best place to short this rebound is.

short /es @1672.75

This is just a quick trade. I'm only looking for 3-4 pts.