I made a bunch of fake money with my DIA and SPY puts today
YM closed right at support today, not surprising but definitely a bearish candle. There is one thing I wanted to bring up though since I have seen it a few times. Wednesday we got a bullish engulfing pattern but it closed right at resistance, which is why I was bearish going into today. Was that technically the right decision? By that I mean, did I get lucky or is that something I should look at more often. And what is stronger, a bearish candle closing at support or a bullish candle closing at resistance? Or should I just wait for confirmation on both if I want a less risky play? Sorry for the thousand questions
The NQ continues to be my favorite index, it closed right at support which was prior resistance of it's small trading range. I think if the YM and ES continue to the downside that the NQ will easily follow and break that support level.