A big rally by Monday close?

[Laissez Faire]

Looking at the hard data, this Monday was an up day closing green with the prior Friday being down. Leaving out some minor details, this gives very good odds of continuation higher tomorrow and a green close.

So, I'd say this leg up continues tomorrow - hitting maybe 5100 on ES. I am however thinking we're not yet done below, so we could see a reversal come Wednesday. If not, maybe next week.

Nailed it.

This is predictive/statistical modeling by the way. No charts.

Something Quanto / Cunto / wxytrader says is not possible for retail traders because he read so on Reddit.

 

[hajimow]

Closed all ES positions. I covered calls at a loss and ES futures at 5095 with an extra total profit of 59K. Yesterday's gain was 67K. Total of $136K gain in two days. When I lose I also lose big. Big Big. End of this thread for me.

 

[hajimow]

Personally, I expect the Asian and European markets to go up tonight and tomorrow US will hit the high of today. Maybe I will be wrong.

I nailed it as well

 

[murray t turtle]

Nailed it.

This is predictive/statistical modeling by the way. No charts.

Something Quanto / Cunto / wxytrader says is not possible for retail traders because he read so on Reddit.

%%
LOL; heading that way.
BUT i dont like to daytrade to much late afternoon;
even the metals dealer some times closes early, not much but wasted gasoline\when that happens. 1.5 hours to close
.Looks more like a bull market than rally; but rally maybe a better term this month/rally LOL

 

[Laissez Faire]

Good swing short in this area (5115), but best not use a wide stop on it just in case. I think this can all reverse by Friday. If not, maybe next week.

Always the chance we actually put in a swing low last Friday and the correction is over.

Monday and Tuesday were the easy days. Just watching price for clues of continuation or a reversal now.

 

[schizo]

Good swing short in this area (5115), but best not use a wide stop on it just in case. I think this can all reverse by Friday. If not, maybe next week.

Nah, I would wait until it goes up to 5150-ish for SPX or 5200-ish for ES

 

[Laissez Faire]

Nah, I would wait until it goes up to 5150-ish for SPX or 5200-ish for ES

If we go that high, I would speculate that the correction lower may be over.

If this week is an A-week - we should have the top today or early tomorrow (RTH) with a squirt above today's high.

This could be an /-week, though. So, just watching for continuation or rejection in this area.

 

[schizo]

If we go that high, I would speculate that the correction lower may be over.

If this week is an A-week - we should have the top today or early tomorrow (RTH) with a squirt above today's high.

This could be an /-week, though. So, just watching for continuation or rejection in this area.

Correction might be over for the moment, but the "reversal" is still possible IMO. Bound to happen somewhere between the shaded area.

 

[SunTrader]

Correction might be over for the moment, but the "reversal" is still possible IMO. Bound to happen somewhere between the shaded area.

View attachment 338859

Agree. And speculate that the lower end of that range likeliest.

 

[Laissez Faire]

Reversal playing out nicely here, but I'll wait a bit before celebrating just in case.