Epilogue – 6/29/2021

Let’s call today a snooze-fest with a slight downward bias. Today is highlighted in grey in the chart above. Each candle is 30-minutes. In a sense, all the market did today was move across the tight bull channel. Tech and the NASDAQ 100 continued to lead.

Nothing changed today, and change is what we monitor. But nothing we have been concerned about changed either. I think we are living on borrowed time – just the remnants of money- manager, quarter-end window dressing. The week after the holiday promises to be more interesting.

The only way to make money today was scalping with size. So you might double the number of contracts you trade but use tighter stops and only go for a few points. The price sloped slightly downward, but it was sloppy without much range. 

There were two small trend trades into the afternoon, a short and a long. I used a lot of contracts and scalped for two points a trade.

In fact, I was trading 50 contracts at one point. It was when my head hit the keyboard and sent off a trade as I nodded off. Just kidding, but it was that kind of day. It was slower than night trading Globex, maybe even slower than watching the grass grow.

Until tomorrow, then, the short-term bull lives another day…

A.F. Thornton