Nothing Happened

I venture to write this journal entry before the close. An interesting day, consistent with the current regime. Several items worth mentioning:

1. Volatility helped to have some clarity on weather buying the morning dip was a good idea or not.
2. It’s important to be focused and active from 1h before open until European close. The rest of the day up until last hour is supplementary.
3. An interesting pattern of grinding down vs sweeping up is emerging.
4. The hardest issue for the leveraged intraday player is that of fluctuations that are a big percentage of the perceived total profit. Think the path of a trade that goes like this +2, +5, +1, +8….Market makers are aware of this and they know how to push the right levers to wreck havoc.
5. For sanity, longevity and profitability It’s better to have a niche of operations that it’s not dependent on the daily narrative and it’s complementary to a passive or even tactical long only posture. Also that gives you 5–10 opportunities every day.
6. It’s very fruitful to process the daily action through the lens of sequences of continuation and reversals and act accordingly.
7. NQ is looking precarious, by definition the market can’t make a meaningful move UP only on value and small cap names.
8. I’m really late to the party, but it seems that it’s time to play the short side in Euro….tactfully.

Interesting RTY consolidation (4 months) after a big move….2500 coming ???