Continue to be cautious on ES - History vs FOMO
If you don't feel like listening to the video, I basically review some trades outside of the ES, and discuss the potential concerns for the ES market.
It seems to be a throw spaghetti at the wall and expect everything to stick market, in spite of much of historical data calling for a major downtrend to be coming up. This has led me to more or less remain away from the S&P other than a short on the recent Trump Pump that I already cashed out.
I see more potential for the Euro and Canadian Dollar to regain some level of historical average. I am getting sell signals based on my algorithms into Gold and Oil today. I will evaluate those later, as I'm not sure I'm ready to feel the risk in those just yet as Gold as also suffered from extreme FOMO and Oil is already a bit lower than my expectation of average price around $70-$75.
My algo is pinging signals in;
GC
CL
PL
ZO
ZM
HO
RB
10Y
BTC (I've never traded this, FYI)
Safe trading, and remember your risk management plan!
It seems to be a throw spaghetti at the wall and expect everything to stick market, in spite of much of historical data calling for a major downtrend to be coming up. This has led me to more or less remain away from the S&P other than a short on the recent Trump Pump that I already cashed out.
I see more potential for the Euro and Canadian Dollar to regain some level of historical average. I am getting sell signals based on my algorithms into Gold and Oil today. I will evaluate those later, as I'm not sure I'm ready to feel the risk in those just yet as Gold as also suffered from extreme FOMO and Oil is already a bit lower than my expectation of average price around $70-$75.
My algo is pinging signals in;
GC
CL
PL
ZO
ZM
HO
RB
10Y
BTC (I've never traded this, FYI)
Safe trading, and remember your risk management plan!
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You can toss in KE as a signal... lots of signals, nearly all on the short side of the market...
None of my signals though are for the ES at this point. Overall, I continue to avoid it.
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