The S&P is clearly in a bullish phase.
Only 3 weeks ago the price was 4160
And today we’re at 4416.
A 6% rise in less than a month.
Sounds like inflation 😉
Given this environment, and coming off a strong news pump at 8:30 this morning, I didn’t want to get long.
But I had to bide my time looking for the perfect moment to strike and catch a nice short.
When we failed under the overnight high I went short with a small position size – a couple of contracts.
Was looking for some selling pressure to take us down – away from VWAP.
I knew this was a good trade with a real edge,
So whether the result was profitable or not isn’t the point since trading is about the process itself.
And the money comes as a result.
Ending out the session +13 points or +$650.