I wish i had anticipated a breakdown of that magnitude, that would have been fun. It’s essential to have the right degree of bias at the right time, and at least in the short-term, I haven’t been bearish enough. That said, $ES is at an important trend line and at the edge of some good fib extensions, and the higher probability outcome, continues to seem to me to be, a bounce. I hope I don’t have to eat those words.
[UPDATE]: Since we have since had the huge rally, I will file this under “Successful Calls.”
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