Quiet start to the week. I think everybody's "hanging" to see Goldman's Blankfein and the "Fabulous Fab" tomorrow. I know I can't wait! Feel like a giddy schoolgirl before a Justin Bieber concert 🙂
Anyway, Emini topped out at 1,216 during the morning and then dropped below support at 1,212 in the afternoon. However, the Professionals immediately stepped in and we didn't fall by much. We've got Exhaustion Selling volume signals on Better Momentum and I think we might see a rally tomorrow – after we've found support early on.
TRIN Oscillator is over-sold and if we get any strength I'll be taken out of my Short position. Don't get me wrong – I don't like this rally. All I'm saying is I won't be surprised if we break to new highs tomorrow.
Darn – I always get myself into trouble with calls like this. Must be the excitement of tomorrow. I'll take my trades as they set up, whether they're Long or Short.
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Emini Trading & Commitment of Traders Update (9:15)
The Professionals are net Long 2.5% of total open interest and the Commitment of Traders Oscillator has dropped to +50.
Commitment of Traders (Emini weekly)
Good luck with your Emini trading and see you on "the hill".