Well, well, well...
Looking into the face of an EminiEdge... How can you not be a smidge nervous looking into those eyes? Well, I digress, but you should. The expected reversal on last Wednesday is almost a failure. Failure of a trading signal, and at best a capitulation of the setup is a setup in itself. Wait... what? When a setup fails and capitulates or reverses, it many times becomes a trade in the opposite direction. That's kind of where we are with the 1865 and then again on the 1800 level on the ES. We had a dandy indication of a breakout to the upside on Wednesday, waiting for confirmation on Thursday, then Friday made an about face. This lack of strength is worrisome, but until we get a close down here, still no confirmation but only a zebra stampede forming. Only time will tell the direction but as mentioned before were on the edge, so trade what you see, not what you think. That's kind of the theme of this video as it is easy to get sucked in...
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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