ES Journal - 2015

Nice orderly sell off today. We are in no way oversold yet. Until we get below 1800, I will be looking for places to get long at oversold areas with fairly tight leashes.
 
What I found telling was that every time the market tried to rally today, it was sold off, with a solid sell into the bell. No V-reversals today, no daily hammer candlestick. IMHO there's more downside to go. Maybe a pause tomorrow and a washout reversal Friday? Should be a fun rest of the week.
 
Tech Analysis said:
What I found telling was that every time the market tried to rally today, it was sold off, with a solid sell into the bell. No V-reversals today, no daily hammer candlestick. IMHO there's more downside to go. Maybe a pause tomorrow and a washout reversal Friday? Should be a fun rest of the week.
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yes---the very definition of a trend. I think one could have identified the trend on the 15 and then sold the overbought condition on the 1 minute chart with a trailing stop outside the noise all the way to the bell.---Appreciate your input--Ishmael
 
Buy1Sell2 said:
Nice orderly sell off today. We are in no way oversold yet. Until we get below 1800, I will be looking for places to get long at oversold areas with fairly tight leashes.
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1800 is around 11% reduction of current levels, interestingly it matches the gap in Nasdaq back in October that hasn't been closed. I have that as my target exit.
 
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