Today is the big day, at least I think so. If I'm right we will have a fast squeeze up after the NFP Report this morning, which ideally we run the stops above the 5830 level, but of course that's not guaranteed. Maybe it's only a slightly lower high, or I'm completely wrong and we tank.
But usually there is a fake out move first, and up would be the biggest trick I think, and then down the rest of today and into late next week. Now, thanks to a member of the blog who sent this to me, I have a new FP that should mark the low of this coming pullback into next week. Here it is...
That is a slightly higher low on the QQQ then the September bottom. If the ES/SPX drops the same in percentage then 5.68% down from the close yesterday will equal about 5415-20 on the ES, which is a slightly highly low on it too, when compared to the 5394 low on September 6th.
On the SPX though it would be slightly lower then it's 5402 low as 5.68% equals 5377 from yesterdays close. Now I doubt if that prior low gets taken out, so most likely the drop for the ES/SPX won't be the same 5.28% on the QQQ, but slightly less. But it certainly gives us the target to exit shorts and go long for the last rally up to 6000+ into late this month.
Get read as today and the next several weeks are going to be wild.
Have a blessed day.
