Entered 1st april trade on the reasons: 1) technical sector (the leading session laggard) even further weakness, plus 2) Nasdaq Composite futures have already posted interim lower low. After few minutes I have fixed short position, cause: 1) NQ w/ tech sector weakness was not breaking news; they had already slashed the market to the downside hour and a half before and to tell the truth 2) the reasons of the trade entry were not so appropriate and as strong as I wish them to be. Plus internals ($add w/ $trin) were not in the trade favor. But the downside move have continued. Probably, I have misleaded some issues.
Rushed into 2nd, but already long trade, betting that the downside leg have finished. It did overred, but only after near five minutes from the point of the position entry. The reasons of the trade open were: 1) no $tick confirmation of the new ES lower low; 2) the strongest sectors, materials in particular, have struggled to push the market higher - there were huge inflow in XLB ETF, the chart do show, and finally 3) NQ (the leading laggard among its peers, ES w/ ER) started to recover sharply. But ES finished sliding only when the weakest sector, technicals, didn't move much lower for more then 10 minutes unlike other sectors. ES did pulled back to the upside but then market entered in doldrums. The strongest sectors bullishness have vanished sharply, even when the weakest sectors didn't want to slide any more. The long position was fixed by stop loss order, that have hedged trade from loss.
3rd day trade was opened, cause: 1) tech sector again was at the brink to post interim lower low, plus 2) ES unlike NQ didn't ticked equal recent higher high. But the reasons of the entry were even further disastrous and the market did continue to trend higher.
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