Thoughts into the Close...

great action off the ah's session last night in my work for bears....when you look at a chart pretty much since the Fed rally, we went straight down with very little bounces....so to bounce finally from 2771 to 2835+ futures and from sub 2800 cash to 2841+.....it gets all the short the Buffet headline folks in the hole from the early morning weakness completely being unwound....likely covered or questioning into close....which is great...created a nice squueze....so i think if they hold it under the pink net...tomorrow and wednesday can be a big down days....

then sentiment will get hyper bearish again...(i want to close all my shorts from 2950) into that weakness 2750/2700.....then use the next bounce to re-set them all.....as that excess bear positioning gets unwound.....

again, my expectation is to use key levels support and resistance to your advantage or the Trading range rules, vs expanded trend trading....then rinse and repeat....I think a lot of points can be grabbed over the next few weeks just as the past week has been great....pink remains the path im stalking....

red would be the pink net breaking....

SPY - Nestled - May-04 1257 PM (1 hour)
SPY - Nestled - May-04 1257 PM (1 hour)
ES*0 - Basic TA 2 - May-04 1259 PM (1 hour)
ES*0 - Basic TA 2 - May-04 1259 PM (1 hour)