ES Journal - 2016

I Know You said:
But your position could remain unprofitable for years.
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Laughed so hard, spilled my coffee. Till we stay below highs, I stay long term short and every time hits upper BB, 7 times, I short and hedge but keep buying debit spreads on deep retracements to hedge open short profits. I know for many they think I am insane, but I trade the system, don't care of trivial comments, I trade system, when you have backtested something over 35 years of data, you start really believing in it.

Was fun morning and done, triple bottom to buy lows and BB trade, then highs triple top reversal, done in eight minutes. My stats show when markets offer so many points in so little time, you grab and quit for the day. Walking away used to be impossible then would lose it all, comes to making money Baby and not how I should feel.

Baby it is Starbucks time early. Life is good. Hot darn.
 
Spectre2007 said:
If you look at price action, it's "bias" is still to upside
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Does this instill confidence? Not in my book, because 3rd lower high is still plausible and if it takes place, then we literally dive and nobody knows when and where it will bottom.

nasdaq.png
 
Spectre2007 said:
If you look at price action, it's "bias" is still to upside, even though some chart technicals might have changed. The "rescue" price action is still there. And that is the most significant edge you can filter from it.

Till it changes the risks are still there for the shorts. When market is truly trending down, you will see spikes down instead of up.
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Can get the sufficient bang for your buck with the "rescue " PA in weekly ES calls. As you correctly stated, the "rescue" action is almost always a vertical ramp, which is perfect for s-t options...
 
This pattern on the daily looks similar to 12/1-4...If you notice in these persistent uptrends, never 3 down closes...however if that 4/4 turn date is real, this thing spikes a bit higher then the follow-thru selling shows up over the next week or so.
 
I Know You said:
If equities are safe, then why is YEN climbing?
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This market gives so many headfakes, the list is endless...Look at crude from its peak in mid-March...The momentum in equities was sort of peaking out then, yet the markets still climbed higher (completely breaking the correlation with crude)...then crude puts in a big bounce the last two days and ES uses that as more upside fuel...For long periods of time it breaks that correlation with the Yen...then at some later date that becomes the big "signal" for ES...
 
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