[Dogpile]

Comment regarding watching the late afternoon action to 'read' the tape.

On Monday, Nov 19th -- the market attempted to break lower late in the day. On Wednesday, Nov 21st -- the market also attempted to break lower late in the day.

There were lots of differences that I won't go into. But watching the volume distribution late in the day was an excellent way to see in real-time what was happening (tape-reading by watching the volume distribution build).

Monday: Price attempted down and then volume spiked at 1437.50. 55k contracts built at this price very late in the day. Big money institutions, the 'higher-timeframe' players that you should be aligning yourself with -- were saying, we like 1437.50 a LOT on this particular day.

Wednesday: Price moved down and no volume showed up. It just fell and fell. Higher-timeframe institutions were not around or not interested and this led to a very nice move down.

Knowing nothing else, (there were big differences in the days anyway), you could have seen how one meant to either close your short and/or go long. The other meant, stay with your short and play for a trend (until volume showed up low in the range).