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!
Note
Previous Video
Note
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.
Note
I did go short on 6E with 4 contracts that I since cashed out (math says it could still go lower... but I'm good). My algorithm is screaming that GC is going to fall back down at least to revisit recent lows, but honestly the ICBM launch by Russia has be skittish on anything reactive to geopolitical activity, so I will likely stay out.
I've no signals for the ES at this point, other than the last sell signal on November 7th. It does appear I am about to get a sell signal on the ES, but it has not shown up yet.
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