ES Journal - 2016

Buy1Sell2 · Apr 7, 2016

Buy1Sell2 said:
4 Hour continues down here. Look to sell rallies

Yep

Buy1Sell2 · Apr 7, 2016

Buy1Sell2 said:
Daily trend has now reversed to the downside.

Certainly

Buy1Sell2 · Apr 7, 2016

Buy1Sell2 said:
4 Hour is now negative. Daily likely negative here but we'll need to wait for end of day to confirm

Agreed

I Know You · Apr 7, 2016

This could be the start of a third lower top.

Spectre2007 · Apr 8, 2016

FOMC will cut rates on Monday, emergency meeting.. So stops will be hit to the downside today... to clear out as many longs as possible before rallying back to the opening range.

recession2016 · Apr 8, 2016

downtrend finally imo

der_kommissar · Apr 8, 2016

Spectre2007 said:
FOMC will cut rates on Monday, emergency meeting.. So stops will be hit to the downside today... to clear out as many longs as possible before rallying back to the opening range.

They don't need to do anything, they just have to create the appearance that they "might do something" at some undetermined date to get the dogs to bark...Notice that the market showed some weakness this week and we had the entire calendar filled with CBer's and their endless horse****.

I Know You · Apr 8, 2016

Spectre2007 said:
emergency meeting

Which confirms that TA works, indexes are failing to advance with weakening pattern (potential third lower high), on weekly time frame easily seen. They know that can lead to a big sell-off.

der_kommissar · Apr 8, 2016

I Know You said:
Which confirms that TA works, indexes are failing to advance with weakening pattern (potential third lower high), on weekly time frame easily seen. They know that can lead to a big sell-off.

Agreed, but that is the dilemma...Over and over again we (as can most market participants) are able to see the cracks in the facade and the beginnings of a turn and then the intervention appears...

der_kommissar · Apr 8, 2016

recession2016 said:
downtrend finally imo

This still appears similar to the post 11/3/15 top...There is not enough movement away from the swing high's for shorts to sit comfortably (compare it to how much cushion one has when they buy it near the swing low's...it can be 100 ES pts higher in 2-3 sessions)...One still is rewarded for covering shorts where the late breakout shorts enter and get jammed.