All of July gains are wiped out. As matter of fact, ES started at 1,954.50, high 1985.75. Today's low is 1,923.50. YM started at 16,757, high 17,085. Today's low is 16,488. (the points between high and low is 597.) NQ trading range is (3,831.50--3,991.25)
The trading range is pretty small prior to today's big move. VIX is at $16.95., 27% increase. It was 10.32 one month ago.
As I stated on Jul 21, my goal for the month is already reached. Any extra is bonus. So I have 4.4% gain this month. I gave back some gains today but it is a still pretty good month.
The market goes up and down. That is beyond our control. We can always control what we are able to control----our money and emotion.
I think we are building a new trading range starting today. Stay cautious.
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