MARKET TEMPERAMENT –
Fading the gap continues and lower highs hold in a gap down in the early morning. The YM has almost completely filled the weekend move up and is now trying to recapture a key level near 25860. If this occurs, we’ll have another spurt of buying, else the traders seems to think this sharp upward movement was a bit of a ‘dead cat bounce’ (I have got to come up with a better name than that for us here….. looking for suggestions=). All our formations are now mixed. Key level of support in ES_F to recapture is 2796.5. We remain engaged in a fading relief bounce within a much larger bearish motion. Watch your edges!
How about finally starting that trading journal?
You should – Here’s an easy way to keep track of your progress