Another day another 2% move in the indexes. I explain why within the NQ and ES in tonight's update -- it's all about flows and when strong gamma resistance gets taken out -- it forces the flow to go against the positions and thus produces an additional pressure directionally. That happened in the NQ today before the NY opening and continued to gain upside steam as the "risk on" trades and gamma adjustments were made. Both the NQ and ES broke above resistance levels but remain within parameters for the current wave count and labeling. I do update both the EW labeling and the Fibonacci resistance levels. I also again discuss the alternate count in more detail as well as "trading rules."
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.