Looks Like a Down Week

Now some might take this news harshly, and perhaps even lose their cool. When I look at how we traded today, paired with some data I’ve been keeping, this has the makings of a down week.

And that makes sense to me because things were starting to look too good.

Whenever conditions percolate into a lovely pot of honey, the counterparty comes in and bats said honey onto the floor for all the ants (algos) to slurp up.

It’s not even honey for the bears, if we go down this week. They’re stopped out. The honey goes to the worker robots who feed their queen.

Early this morning I cut out of XLE. I sat with the position for many weeks, and still feel constructive on the ETF, but it tagged its VPOC and turned decidedly lower. I feel better prices may be offered up.

This was a huge position and thus my cash is back up after being all in for the last 10-12 days.

Perhaps my data is misleading me, but a red week would not surprise me whatsoever.