It looks like the hopeful bulls are banking on a dovish Fed to bail out their longs. I will join the sell the rally crowd if dovish Fed words can provide a little short squeeze. I will give the bulls plenty of room to operate here, they are quite frisky.
Fully expecting like everyone else that the Fed will dial back their bullish on economy rhetoric and that will excite the buy algos which should present a good price to get short. Looking at ES 1910 and WTI 32.00 as short levels. I am not interested in buying unless we can get back down to 1860. I refuse to buy oil.
Trade the new formed range, ES 1855 to ES 1905. We are closer to the top of the range. Get ready to sell.
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