Short Term Trading Weekend Lounge: 12-14 Apr, page-15

Hi @48&34 and thanks for the mention.  Hey @Malaga, so good to hear things are looking better. Keep up to the good work and the faith mate.

I have mainly been doing in intraday stuff lately because everything is growing here and I am in grounds keeping mode.  But that's really an excuse...because frankly I can't force myself into swing trades and have not been able to do much since SPX 2815 -- if I talk about the longer time frames I will sound like a broken record.  We are now about SPX 2900, the small caps are ridiculously resilient, FAANG won't give in and the VIX is doing what it does when things get mechanical.  By mechanical I mean it’s a daily grind without much enthusiasm and there is befuddlement on the part of those who seek deeper meaning.  We've all climbed the worry wall before while the bears shrieked about the end of days -- many of us know what it feels like to profit when the market appears irrational and fomo has taken over -- but I honestly can't get into it except in the day trading stuff.  Very glad for those who can stay long overnight though!

The ES futures profile which I will post again soon is very one time frame.  Stated another way: it’s a series of profiles which don't have much back and fill and where points of control (the points with the most volume or time) are not revisited before another burst higher.   That can happen over and over again but there does come a day of reckoning if only in the short term time frames.   In our present case, the floor of a fast break lower would probably be in the  big gap that took place at the turn of the month.  ES 2840 is the beginning of that gap.   We have some bank earnings out this AM and that might give us some catalysts but next week will give us much more to go on.