With concern of debt ceiling and fed shutdown, equity market gaped down on Sunday night. It dropped further after European market open. I thought that we were going to see ES moving to the next balance area of 1663-1642. Instead it tested over night low and bounced and pushed up for most of the day. Until about 20 minute before closing market started to dropping. ES pushed all the way back to the LOD by cash closing. I got today's sequences totally wrong in my SIM trading. It appears market is setting up to crack the bottom tomorrow of course it's a news driven market.
I started to leg in for the next two weeks. I have 120 and 160 points away for 10-18 and 10-25. The volatility is high and October is famous for big drops. Be ready to add, or take stop and re-enter farther out positions.
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