Trifecta in the ES Market

It was a solid day of trading ES today, sell side only to state the obvious. Yesterday in fact went well, too. As far as trading is concerned.

Unfortunately, both of my workstation computers have been hammered with a virus attack that rendered them useless today. I’m still waiting for a call from the repair shop to say they are restored. Meanwhile, I spent today on a new laptop using one lone screen. Taking it back “old school”… and hopefully won’t have to repeat the process tomorrow.

Due to limited screen space, I was forced to choose just one symbol and because it was oil inventory report day, my choice was ES without hesitation. The speed at which CL moves, coupled with this being the weekly news day was not conducive to methodical trading on a new laptop with fresh charts crammed onto one single screen.

Tomorrow I should be back on track here, fingers crossed.

ES 5 Minute Chart

I will try to upload Tuesday’s charts & verbiage tomorrow, results were +1 tick CL and +4pts ES then. For tonight we have today’s ES chart (above) from the new chart build in this laptop, mapping out the pit session’s range. I took three sell signals today from the 2084 zone for +4.25 pts / +4.25pts and +8.25pts = +16.75pts total on three turns before 11:30am est.

Russell 2000 futures (not shown) trended straight down all day without a single blip upwards, which was sort of a “tell” that this session could be down large for all stocks. But considering the limited hardware resources I had on hand coupled with price action consolidating on the CM-RoadMap 780% line which is only hit during large trend days, I opted to cease operations early. There was indeed another sell sequence lower into the closing bell that I made no attempt to trade.

This was the first pure downtrend day across the board in stocks for the past few weeks if not months, and darn few at that so far in 2015. We can expect plenty more days to come just like this and even bigger. For sure. Our job is to read the market’s roadmap, trade in direction it tells us to and by all means do not second-guess the process.

Go with the flow… the market’s pre-tell direction, all mapped out for you each day.

For more daily updates from Austin, visit his blog at Coiled Markets.