Emini of OZ
Yesterday’s late day 86 resistance held all day long for today’s continuation trade.
The retracement continues, searching for support.
The 60 minute chart got tested, now we will see Monday where the market wants to dig it’s heels in and try to do battle. Still lower in my opinion before the real test begins.
The morning chop frustrated both sides, and the longs finally blinked.
We had short side bias all day, and all targets but one were hit.
Option expiration week, and the calls that were profitable a few days ago got hammered.
I try to keep it simple. Follow the yellow brick road to see the wizard win.
In the world of illusion that permeates the markets, all I can say to my friends is: “Toto, we’re not in Kansas anymore.”
You’re in the land of the wizard.
We have so many wands and tools we have a huge edge in the markets. The sorcery of the wicked witches is usually no match for our ability to see what’s hiding behind the curtain.
How is your system doing?
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Stay strong, stay humble, and keep learning.
Have a great weekend.