Today there have been bears all over Twitter, talking about laying the smack down at 1505 on the /ES. Here we are, lingering at the 1505 level into the one o’clock hour, and I’m looking for the bears. So far they’re force has been weak, and I’m expecting higher prices.
I got a bit ahead of the market this morning and went ahead and made TPX a full size position. I like that chart, it’s a tight little pullback to support and it’s in a volume void of galactic scale as my comrade ElizaMae pointed out a few weeks prior.
The highs today have thus far been poorly auctioned, but here we are retesting them as I type. I’m looking for signs of sellers, but so far they’re not being very earnest. All roar no claw.
There’s lots of session left but the bears will need to show follow through sooner than later otherwise the buy orders will start flowing back in. I’m expecting a hand tip by 2:30pm.
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