Entered shot position on: 1) bearish divergence on 5 minute chart w/ $tick confirmation; 2) no financials (XLF; one of the session leading sectors) fresh day high. But soon fixed, because: 1) materials & energies (the leading sectors) w/ technologies (XLK; the weakest) were sliding sharply but ES as well as NQ & ER at the point of my trade exit didn't manage to post interim lower lows; 2) heavily bullish internals were staying at a place - there was almost no $tick below -600 when my trade was opened and the whole session period before. I do not regret to close the trade(s) so early today as well as yesterday. Market executes abnormally, unreasonably and extremely bullish during last two sessions. I do not buy this sentiment, think it could be denial phase.
02/03/10
Entered shot position on: 1) bearish divergence on 5 minute chart w/ $tick confirmation; 2) no financials (XLF; one of the session leading sectors) fresh day high. But soon fixed, because: 1) materials & energies (the leading sectors) w/ technologies (XLK; the weakest) were sliding sharply but ES as well as NQ & ER at the point of my trade exit didn't manage to post interim lower lows; 2) heavily bullish internals were staying at a place - there was almost no $tick below -600 when my trade was opened and the whole session period before. I do not regret to close the trade(s) so early today as well as yesterday. Market executes abnormally, unreasonably and extremely bullish during last two sessions. I do not buy this sentiment, think it could be denial phase.
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