Yesterday, as the SPX and NDX traded in a tight ~20 point range, I laughed, "And they say don't short a dull market, ha!" I also said, "Logic would dictate, market is exhausted". My baseline bet this morning in my live trading room was that we would not get above a key intraday level - as shown (black arrow) at blue trendline on the SPX chart (side-by-side with my USD/10Y ratio chart). We did a Pinocchio peak above for a New York minute, then dumped to form a perfect bearish engulfing bar on the hourly. It was the closest thing you get to a sure-thing short. (chart below).
And on the 9th Day She Rested
And on the 9th Day She Rested
And on the 9th Day She Rested
Yesterday, as the SPX and NDX traded in a tight ~20 point range, I laughed, "And they say don't short a dull market, ha!" I also said, "Logic would dictate, market is exhausted". My baseline bet this morning in my live trading room was that we would not get above a key intraday level - as shown (black arrow) at blue trendline on the SPX chart (side-by-side with my USD/10Y ratio chart). We did a Pinocchio peak above for a New York minute, then dumped to form a perfect bearish engulfing bar on the hourly. It was the closest thing you get to a sure-thing short. (chart below).