Replies to post #18911 on Mostly: Classical

[ItsAllCyclical]

I agree on the parabolic part and 950 and the 200 ema are so close I think they get tagged at this pt. But...

1) Too much bullishness ST.

2) Overbought ST.

3) Going into options week next week.

4) Too many looking to get short again. 950 would be too much of a gift, no?

5) At this risk/reward ratio IT I start to take some chances hitting the trend a bit early.


Again doing this ST on TA/EW and will use stops probably around 924 if seen.

[ItsAllCyclical]

Broke thru to the downside. If I'm right this should hit new lows or at least retest them by EOD. Otherwise I'll have to rethink it a bit.