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Expanding on that repair theory, 94.80 is the top of the zone. But that puts the short trying to fade K period, which I am done doing. But tomorrow, if the setup looks right. Shorts being removed today has weakened the market underneath. ES has little chance of not breaking the high now.
CL sellers are absorbing the move very nicely up here... For Long Term Sellers, this is the place. That does not mean they will win, but definitely on their radar. Heavy selling will most likely wait for ES to do whatever up here.
Merging the profile back to the repair zone puts the POC at today's low.
Can you imagine what equities would be doing if there were some actual positive news that suddenly appeared? From the very bad NFP report at the open on Friday, up 32 handles, on *zero* news. Even MarketWatch, the king of BS headlines, can't think up a good one for this one. Personally, I would say "Markets up in anticipation of FOMC minutes tomorrow" if I were writing a BS headline, but that's just me
Man, you just added the comic relief I needed after staring at this thing since yesterday!
I started to see that open zone in CL that reappeared 4x recently, and had thought before that 94.50 was the line for staying short, so today has been a long story unwinding for me. If if were not 2pm I would be short as hell right now.