After struggling all day I believe we have confirmed this will be down week for equities.
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My first trade from this idea was stopped outed over night with profit. The second trade from this idea was a scalp from the open today. I am now waiting for 27900 again and will enter with a position I can hold short overnight.
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I almost got stopped out when the stop algos were run last night. My SL on this third trade was 3 dollars away from being exercised. Was very happy to see my position in the green this morning. I took profit on this third position early toay once the short term trend held on the 5 minute chart. I am going to stay neutral and see what signal Powell gives us here shortly.
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I was watching the market and thinking... We have stayed up higher than I thought we would've the last 24hrs and with Christmas approaching Powell doesn't want to be the bearer of bad news right now. The market has a bit more room to eek out another ath and I am switching the bias to long for the very near term.