Confidence-Builder Trade After Rough Day

Jan 12, 2021

Getting long a little base breakout after the major indices stabilized above VWAP after the Globex open. Russell 2000 and Dow leading to the upside, with laggard Nasdaq 100 reclaiming support and S&P 500 still somewhat messy. Looking for a short-term trade here. Long small size (2 contracts) from ~3798. Already out of 1 at 3804 and moving stop to breakeven on the last contract. Letting it ride to see how this base breakout develops and if it can turn into a longer-term trend that we can continue to approach from the long side.

Jan 12, 2021

Note

Looks like the market is gonna need some time to get above this 3804 level. And the Dow above this afternoon's highs. Took profit at 3802 and will reassess a new entry if prices can get decisively above 3804. +$50 on the trade...I'll take that.