S&P emini – was it looking to header lower? Indicators were not clear
I got back home today and look at the market as I always do. It was stuck in a choppy range.. it would break out of this but I wasn’t sure which way it would move. There were some opportunities to short it was it went up the to the 5 day MA as it seemed to have been contained the price action.
I was thinking that the price action would break down but there was a clue in that the stochastics were showing positive divergence.
The price action did break below the previous low but soon shot up and then bounced up and above the 5 day MA. An entry would have been to enter it as it sat on the 5 day MA and moved off it.
My entry was a short which got stopped out..
