Right now all three indexes ESU5/SPY, NQU5/QQQ, and TFU5/IWM have macro lower highs to be Short against, especially in TFU5/IWM which has been a bearish
divergence for most of this week other than yesterday.
Today I will be looking to start new swing Short positions in all three indexes if
any or all three indexes bounce to +3Sigma
or even at center Sigma and I will
do so as long as ESU5 holds below 2114s, NQU5 holds below 4635s,
or IWM holds below 125.80. Once/if above these mentioned
levels I will negate my short-term Short
swing bias, and then re-engage at higher mapped out levels depending the
daily and 60min Sigma & CI indicators.
Once engaged in the swing index Shorts I will then be looking for ESU5 to breach below
2098s-2094s zone to confirm the Short
bias, NQU5 below 4578, and IWM below 123.55
otherwise there will be better chance of more sideways chop and grind before
another attempt to make new ATHs.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Hamzei Analytics, LLC