There is still a week or so left on this March contract, but it will flow into the June contract once this month will expire. We had our wild move to the upside and then and instant reversal and down she goes. At any other time I could be looking for a major top, but we will take our chances that it is not.
This might be an example of catching a falling knife so the use of perfect timed stops would be important for those where fear dominates.
Traders with fat accounts and only bet with 5% or less of their money usually don't have the fear associated with betting too much of our money. This is a topic that we can argue for a long time, but it makes a huge difference in how much of your cash you are betting with.
The markets could just have completed a major top, as I have very little room to move in before it gets trashed. The violent sideways pattern for the last 3-5 days is the warning that a violent
move is ahead, and we certainly got it this morning.
Gold also so a violent move to the upside, but this may not last if stocks have another leg up.