Here is the somewhat bigger picture... /ES
Today was a meat grinder for my account. I was stopped out of all my positions, I rolled over and got rolled on. Oh well. Tomorrow is another day.
I’ve put a few charts with today’s action and the somewhat bigger picture. The big takeaway I have after looking at these is that we appear to be in a nice little channel. The 760/750 level should be a key test.
Overall, we remain highly overbought, but that hasn’t stopped the bulls for the last few days. Right now, I’m flat.
A look at the price action today on the /ES
After looking at these charts, and licking my wounds from today – cash is how I will sleep well tonight. Tomorrow, I’ll be up bright and early to check on things, maybe I’ll get into a position. More than likley, I’ll be waiting for the fed announcement, letting the tape run up, and then getting short. I’ll let the tape decide that one tomorrow.
That’s all I have for today. Hopefully the charts help you out.
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