I stepped back from the turrets this morning, after nailing 4 winning trades in a row in the futures and seeing my book catapult higher. If my calculations are correct, this market is heading higher into month end.
It is with this hypothesis and the invaluable data iBankCoin generates both in written commentary and mathematical precision that I am pressing my longs a bit harder than I traditionally have. I found iBC when I was wrapping up my undergrad. College had failed me by teaching me nothing about trading. Then I came here, and it’s all trading all day—making money. You will not find this type of service elsewhere on the internet. Believe me. I still hunt it out just like you. I am still very much a student.
The indices are choppy but iBankCoin stocks are strong. I need to wrap up this blog and get back into the /ES.
What has the /ES done?
It has rejected attempts to continue trending lower and trapped shorts in the hole, then rotated higher 10 handles.
What is the /ES trying to do? It is trying to stabilize and balance out. We see this as the formation of Gaussian distributions.
How good of a job is it doing?
Things are looking very Gaussian, very Gaussian indeed.
What are we likely to do from here?
Press through the large balance distribution I highlighted this morning and test 1697-1697.75.
Best of trading to you all.
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