I hate having to sleep. I have seen so many times that about 7 AM EST there seems to be a reflection point in the markets. Many times there can be a low of a high on the charts that you can play off of until the markets in the US opens at 9:30. Today there was another one in the YM futures. It would be a buy at 12800 today.
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Guess what happen? The Fed cuts the discount rate. The YM futures go from 12850 to 13250, a move of 400 points in 15 seconds. Amazing. The shorts are getting killed.
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Later.
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