The markets have been up for 5 days now. They are defying the common beliefs of "can't go much higher". There are apparently a lots of short interests and shorts are trapped. I am one of them too. I was ready to exit my this week's 1620 position to take a loss. ES didn't even give a 3 point pull back at the open. It's now challenging 1628-1630 area at lunch time. I don't know what the day would end but it's at a critical level. Daily Fib 23% target was hit yesterday and no pull back. Fib 50 extension is around 1633.
ES closed at 1629 of all time high. I added 1 more at 1645. It's a very strong up day and seems a none stop train. I have a only two days left to get out my shorts for this week.
No comments:
Post a Comment