Whipsaw Wednesday – Fake Futures Move Makes Great Short Entries

October 21, 2015 at 08:12 AM EDT

What an insane market! At 4 am, just after Europe opened, the Futures blasted off for no particular reason. It wasn't too surprising as they were the same long lines we played in yesterday's Live Futures Trading Webinar – so great money to be made by the early risers but now we're back to the lines we shorted earlier yesterday, at 11:10, when I said to our Members : Lines of the moment are 17,200 (below), 2,035 (below), 4,450 (below) and 1,165 (below) with /ES at 2,028.5 playable short with a stop over 2,030 (or any of the others going over) and then short the laggard if we're back at 2,035. This morning we're right back at 17,200, 2,030, 4,445 and 1,165 so of course we're back in the saddle again – taking our short entry on the Russell as we follow our shorting rules, which are: I do like shorting our majors this morning at 17,200, 2,035, 4,450 and 1,166 – ONLY ON CROSSES BELOW by the 3rd of 4 and out if ANY of the 3 cross back over and needing to quickly see the 4th index confirm the drop. Follow those simple rules and, as we demonstrated in yesterday's webinar, you can limit your losses while waiting for that big victory when things break your way. We made about $200 live for our Webinar participants – who else gives a webinar where the attendees come out ahead? As you can see from Declan's S&P 500 chart from PSW's Chart School , 2,050 is a major line of resistance but 2,035 ( see yesterday's post ) is the 5% line on our Big Chart and that has been unbreakable during the live sessions so the market manipulators are now pulling out all the stops to push us over the line in the thinly traded futures to keep the retailers thinking Everything is AWESOME – even when the data shows that it clearly is not . IN PROGRESS

What an insane market!

At 4 am, just after Europe opened, the Futures blasted off for no particular reason. It wasn't too surprising as they were the same long lines we played in yesterday's Live Futures Trading Webinar – so great money to be made by the early risers but now we're back to the lines we shorted earlier yesterday, at 11:10, when I said to our Members:

Lines of the moment are 17,200 (below), 2,035 (below), 4,450 (below) and 1,165 (below) with /ES at 2,028.5 playable short with a stop over 2,030 (or any of the others going over) and then short the laggard if we're back at 2,035.

This morning we're right back at 17,200, 2,030, 4,445 and 1,165 so of course we're back in the saddle again – taking our short entry on the Russell as we follow our shorting rules, which are:

I do like shorting our majors this morning at 17,200, 2,035, 4,450 and 1,166 – ONLY ON CROSSES BELOW by the 3rd of 4 and out if ANY of the 3 cross back over and needing to quickly see the 4th index confirm the drop.

Follow those simple rules and, as we demonstrated in yesterday's webinar, you can limit your losses while waiting for that big victory when things break your way. We made about $200 live for our Webinar participants – who else gives a webinar where the attendees come out ahead?

As you can see from Declan's S&P 500 chart from PSW's Chart School, 2,050 is a major line of resistance but 2,035 (see yesterday's post) is the 5% line on our Big Chart and that has been unbreakable during the live sessions so the market manipulators are now pulling out all the stops to push us over the line in the thinly traded futures to keep the retailers thinking Everything is AWESOME – even when the data shows that it clearly is not.

IN PROGRESS