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ES printed new all time high as I expected. so what's next? price action during 3:30PM - 4PM is important. It will be a tell tale sign from the market.

screen shot of one of my accounts. Just because market is going up this morning. :D:D

Read all my previous posts. I am still long ES @ 2161 and my holding period is up to 2 months. It's called "Swing Trading" or "Trend Following" ok?

If you don't like what I post here, don't come. Is it too much for you to understand that?

This guy knows what he's talking about. https://www.quora.com/How-does-a-market-making-algorithm-see-my-stops Citadel is probably largest stop gunner out there.

and obviously, I am talking about longer term trading, not daytrading.

Overnight action in ES is a classic example of running the stop orders. Those who shorted and had stop order right above previous high(2184.25) got stopped out. Those negative P&L is someone else's Positive P&L Stop orders create a situation where it makes sense to collude among big market...

One reason I am positive that ES will print new high is that YM already did it. It's extremely rare that only YM prints new high but not ES or NQ on a major market top. maybe NQ won't reach new high anytime soon, but at least ES will.

so, what's going to happen to the stock market during trump presidency? I'm pessimistic. I think we may see 20-30% drop in his 3rd or 4th year.(i.e. bear market) That's bad news for trend followers like me. Trend following on the short side is much more difficult than long side. I don't know...

wow, this is probably the biggest NQ/YM divergence I've ever seen. more than 4% since election day. YM is up huge and NQ is down a lot. Big tech investors are scared.

** Position Update ** bought one ES @ 2161 / 100K This rally still has legs.

Indeed, insane market move.

Will this uptrend continue? I think yes. Will I reenter long position? probably not. I already had near perfect entry. it's gone now. Chasing trend at this higher price is stressful. Will wait for next set up. maybe in december.

I got trumped! That was huuuge, probably biggest reversal since flash crash. Price range of this ES move was 2160 - 2028.50 = 131.50 = $6500 / ES !!! 100K does not seem that conservative anymore for 2 ES contracts.

** POSITION UPDATE ** sold one ES @ 2111 POSITTION : flat. Unrealized P/L = 0 Realized P/L = 0 I need to reevaluate. might go short at the close. if market rallies from here, I would be f*cking pissed. but nothing I can do about it. I can not read the market confidently after this overnight...

** POSITION UPDATE ** sold one ES @ 2100 still long 1 ES @ 2105 / 100K Unrealized P/L = -$250/100K Realized P/L = -$250/100K That's a crazy overnight move. Had to trim position.

** POSITION : No Change ** 2 ES long from 2084, 2126 / 100K Unrealized P/L = +$3000/100K (+3.0%) Realized P/L = 0

Many of you already know this, but ES is a much better trading vehicle than SPY. Not only simple tax reporting(just marked to market one line reporting), but tax rate is much lower. 60% long term 40% short term. Up to 100K-110K(not sure about exact number) total yearly income, you pay zero...

for example, if you want to back test SPX gap up is a good entry. every significant gap up in the past must have some sort of headline news that caused it. without that knowledge, simple data backtesting can not yield profitable trading strategy.

I think you need more than a year's data to have a statistically significant test. more like 20-30 years data especially trend set up happens only 4- 5 times a year. Another problem with backtesting that I have is it does not consider headline news that caused market price action. we all know...