ES Journal - 2015

[romik]

Very good Ishmael! Your results prove your strategies.

Let's have a chat about the monthly chart, to me it looks weak now and to keep it up the FED needs to come up with new fresh incentives or whatever else they do to keep it moving up.

I mentioned QQQ yesterday, which has a tendency to close most of its gaps (eventually), there are a few gaps below and the one I am looking at is around 15% down of current levels. That represents around 1760 level for SPX and 15177 for INDU.

 

[romik]

Chart

 

[romik]

INDU monthly

 

[jl1575]

Journal Tally
172 trades
94 wins 78 losses 54.65%
Total net profit after commissions $75,329.78

Good profit.
Just curious, 172 trades over how long a period? Your last trade lasted a whole month, but presumably some trades may be over in a couple days after you placed your position/swing plays.

 

[Buy1Sell2]

Good profit.
Just curious, 172 trades over how long a period? Your last trade lasted a whole month, but presumably some trades may be over in a couple days after you placed your position/swing plays.

This is the tally since I opened the journal in 2006.

 

[Buy1Sell2]

Very good Ishmael! Your results prove your strategies.

Let's have a chat about the monthly chart, to me it looks weak now and to keep it up the FED needs to come up with new fresh incentives or whatever else they do to keep it moving up.

I mentioned QQQ yesterday, which has a tendency to close most of its gaps (eventually), there are a few gaps below and the one I am looking at is around 15% down of current levels. That represents around 1760 level for SPX and 15177 for INDU.

While the monthly has been weakening, there is no obvious reversal in play at the moment. So, for the moment , especially early in the month, I have to defer to the reaction low in the low 1800's as the signpost for reversal. The breach of that would be the longer term reversal signal for now.

 

[Buy1Sell2]

Good profit.
Just curious, 172 trades over how long a period? Your last trade lasted a whole month, but presumably some trades may be over in a couple days after you placed your position/swing plays.

The idea is to not have trades last just a couple of days. Thank you for your kind comments.

 

[Buy1Sell2]

Very good Ishmael! Your results prove your strategies.

Let's have a chat about the monthly chart, to me it looks weak now and to keep it up the FED needs to come up with new fresh incentives or whatever else they do to keep it moving up.

I mentioned QQQ yesterday, which has a tendency to close most of its gaps (eventually), there are a few gaps below and the one I am looking at is around 15% down of current levels. That represents around 1760 level for SPX and 15177 for INDU.

What's more likely though is that the weekly has exhibited a downside reversal. My belief is that the weekly chart is the most important chart as it contains the closing price that demonstrates how professionals feel about the market when they won't be able to react for two days. I think there will still be opportunities for longs with tight leashes and shorts may be taken with somewhat looser tethers. An argument could be made here that the daily, weekly and monthly all agree and if this was the last day of the month, they certainly would. I would like to catch another long back to recent highs before getting too short, but a small bounce would be agreeable as well.
One other note--these kind of coiling megaphone patterns after long run ups typically have the bears winning.

 

[Tech Analysis]

Interesting about the weekly charts, B1S2. I may just add a couple to my layout to see how they look. And congrats on your profits!

 

[artemstreb]

What's more likely though is that the weekly has exhibited a downside reversal. My belief is that the weekly chart is the most important chart as it contains the closing price that demonstrates how professionals feel about the market when they won't be able to react for two days. I think there will still be opportunities for longs with tight leashes and shorts may be taken with somewhat looser tethers. An argument could be made here that the daily, weekly and monthly all agree and if this was the last day of the month, they certainly would. I would like to catch another long back to recent highs before getting too short, but a small bounce would be agreeable as well.
One other note--these kind of coiling megaphone patterns after long run ups typically have the bears winning.

I read and re-read...conclusion: could go up, could go down? i mischaracterize, i sorry?

I would like 2100 today.