Remembering The Exorcist and spinning heads…
Markets are manipulated, government is here to help us, and yes I agree this is a dangerous market.
Not because we have to fall a la fat finger at any particular time; but rather the opposite…
The agenda seems to be to say buy knives and I am going to get you either way if you play.
Only Nimble traders were playing today prior to the Foam’ing at the mouth Conference.
Risk two make two was how we defined it.
Avoid Trouble was our mantra.
Today’s plan was nibble short from new highs, and realign for the buy. Assume first resistance was 1556, ahead of the 1558.75 high. Aggressive players wanted to fade the gap fill at 53.5
We had aggressive buy zone ahead of 48 support. Our assumption was the 45 would hold.
Charts can lie, but they said so.
Not worth a lot of thought for this blog.
Now exactly what has changed since a day ago when we were visiting 32?
No clue, other than position traders are on an emotional roller coaster as the boyz keep swinging from limb to limb.
Best trade of the day was the EOD fade for those who waited for it.
Be a lover of the market, not a fighter…