Last week’s sell every blip higher has reversed to this week’s buy every dip lower. That in turn created yet another trade-sequence opportunity for active traders what cannot go down will squeeze up in near-term oversold conditions. It goes without saying that plenty of newbie and neophyte traders who have no clue about what they’re doing kept selling into that late-day ramp. The masses always do.
As for our team here, crystal-clear CM “key-reverse” patterns long signals @ NQ 2520 and ES 1304 (not shown) rose to 2550 and 1318 highs, respectively.
Suffice it to say that plenty of opportunity existed for anyone to wrest some amount of solid profits from either/or emini symbol today.
For more daily updates from Austin, visit his blog at Coiled Markets.