Pre-market, when you were thinking about “where can we go today“, what came to mind?
Longs; recent trend up, undoubtedly over done, but can become more so. First of the month bias up, last 5 days up eighty points.
Shorts against trend, so plunge unlikely.
Traders still on Holiday, interns running the show. Five minute blue line is horizontal, suggesting range / consolidation likely. Don’t over trade.
Summer is here. Enjoy it, don’t fight it.
We need time to recharge our batteries.
The Market was behaving like a drunken sailor today. Hungover, lifeless, ramblin’.
“If 28 holds, longs win… and they can goose it again overnight with little volume as resistance.”
Market just hit 1340.75.
There’s a gap basis the September contract at 1340.