Midweek recap & overnight levels
Hello traders,
It seems like I aged 2 years in the last three days.
After the the largest globex decline in the last 20 years this past Sunday due to the Japanese carry trade blowing up, we are now largely unchanged from Friday close on both ES and NQ.
This is a huge win for bulls and they have climbed the wall of worry for now.
Well, have we climbed the wall of worry and now smooth sailing seas ahead?
I will circle back to this in the latter part of the newsletter but I would like to highlight as to how the newsletter performed this week.
Monday RTH:
We were able to catch the weekly ES bottom at 5151 and then were able to scalp rotations throughout the day
Then on Tuesday, we were able to enter a short on NQ from 434 and 476.
On Wednesday, we were able to reload into our shorts
And also our UPST calls went 5x on their earnings beat and raise.
Today we were able to get into the NQ long at open and rode it nicely for quite a few points.
And then late day shorting was laborious but fruitful.
Overnight Levels: