Rushed into the long position on the reasons of: 1) $add, XLB (strongest at that moment) and lately XLE (weakest sector) have managed to post higher highs; 2) as well as Nasdaq Composite futures. But it's peer, Russell 2000, had posted even fresh session high, plus 3) internals were in favor. Sentiment was indeed very bullish w/ 18 $ticks above +800 and even zero below -800. While the market broadly got bullish momentum, ES had struggled hard to move one by one ticks higher. Soon fixed the trade, cause: 1) there was no sign of Russell 2000 futures (front driver of the current leg higher; the most bullish U.S. index) posting fresh session high and 2) bearish divergence on at least 5 minutes ER and ES chart was still at a place. That was really nice exit, because ER indeed soon have slided sharply and the broad market started to decline. Closer to the session finish, ES did try to make new highs, but should emphasize, no matter no $ticks below -800 during whole past day, late ES bulls attempts were useless.
0 comments:
Post a Comment