I'm just pointing out there's still a lot of spec money chasing mo mo. Imho dips will be bought hard for a while. The down moves are very slow and grindy. I think earnings will be forgiven in the next few weeks as we grind in a tighter range maybe 2500-2850 for a couple of months. Then in June July the mkt will look to the fall . If the outlook murky we'll be revisiting lows or lower .
Only one thing there though.... watch out if one of the banks steps out of line and forecasts some doom and gloom. I don't think they will, but ya never know.
I'm in. Right at 136 Edit... no way it holds this high above vwap. ugly (intraday) chart to short though, i will say that.
I would agree and look to buy the pull backs, which may go a little deeper ~ for NQ to take out its HOD , maybe for ES to hit 2766
As traders our job is to catch some of the sauce falling off the edge of the bowl. When we see an edge we try to exploit it with size. Right now there's no edge and our job is to take some crumbs falling on the floor.If the mkt reacts bad to earnings and punishes co's then its time to hold shorts past a few mins's or hr's. The mkt will tell us