I know you're not. You already said you'd wait for confirmation and a move higher first. That's wise. Just saying how I recognize this day and relate it to my past failures. Could be a lot of big players want to take a bet on 4K holding and they might front-run that, so who knows where this'll reverse. It's a trend day still and they usually go lower than you think, though.
Bounce 3 is a little stronger than bounce 1 and 2. That's good but really is meaningless by itself in the bigger picture.
The more time that goes by without major moves to the downside lets me bring my target downward for considering day trade longs. I will begin considering longs if we get 4033 ES.
Bottom pickers getting creamed here. I dislike this action, though, as every time we make a new low there's a spike reversal. Like I said - there always seems to be a bid in this market. My guess is 4K will hold for now, unless there's some kind of capitulation. Seems unlikely at this point, but who knows? We're all only guessing I suppose...
Bottom picking is ok for low leveraged longer term investing, but for higher leveraged day trades it's not a good thing.