Spike in S&P futures open interest


It took one day for me to change my mind, I’m buying $ES tonight. Take a closer look at this chart of S&P futures over the past year. Nearly every short term bottom has been marked by a sharp increase of open interest in $ES. Plus, we tea bagged the bottom of the ‘ol pitchfork channel. Honestly, I feel very shaky buying here so I’m keeping a tight leash. I’m looking short term bounce, quick to take profits.


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