BEARS get a good set up!

The ES has been lagging. The NQ skyrocketed to new all time highs while the ES barely could get above the year high going above by 2 points. The IWM broke the 156.5 low I mentioned in the morning game plan – a bearish tell. With the VIX at 11 putting on a trading short was a low risk- high reward set up. So far the NQ is still hanging in well while the ES tested the 2900 area again and held. I think we will see some more back and forth action for today and for awhile before the market makes its next move. Remember as a trader we need to take one set up to the next.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s