Entered the long position on the reasons of: 1) financials - the weakest sector during the session - have made huge upside swing. Materials sector, who were the 3rd strongest, was at the brink to post higher high. Also 2) there were bullish internals, favoring the position. Near +2.2k have posted $add while $spy was soaring some 1.2%. And there was only one $tick below -1k versus 10 $ticks above +1k.
The trade was fixed near the level of its open. The first is that I had overestimated the priority of 1170 ES points upside break out (the level which corresponds to be 25th march and 4th may, of 2010 of course, VPOCs). I supposed bulls could get strong upside momentum on the reason of huge resistance level breakout. But that was faulty thought. The second point is that leading market movers, and the most volatile sectors ETFs respectively, energies & materials, were selling off sharply.
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