Good Day! Before starting today, did anyone else notice the incredible volume spike on last Friday afternoon? Showed me that the pros weren't going to stay long over the weekend... Anyway, just a quick update showing a few of the setups today seen by the EminiEdge followers... The internals were bearish to start the day but I was prepared for this to go up, but the bulls just couldn't hang on. After a bit of volatility from the PMI, I figured to the moon, but it didn't take long for them to run out of steam and push us lower for the day. At 1) was the first short of the day for me, ended up to be 6-1/2 per lot. I would have loved to get long at the support @ about 9:30 but when it was moving it was really choppy and sideways so I passed. Once it started going up however, I took longs at 2) and again at 3), for 5 points combined. This ended the day for me, but had I hung around a few more minutes there was the trade of the day setup at 4) with either new entries or add position size at 5), 6) and 7) until bottoming right in to our bottom support for the day, better part of 20 points! Full disclosure, the top support line at 2098 I added after the open (S turned R) but before 1) was formed, but you didn't need it to take the trades mentioned anyway, as the pattern at 4) didn't require it and it had a nice EE with divergence, and certainly didn't need it for points 5), 6) or 7), which were safer entries to boot... Hope you all got a piece of it today! If you're wondering what the entries were for these trades, take a look at the EminiEdge Trading Manual, it outlines every trade mentioned here today in detail...
Good Trades -Trader Joe
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