ES Journal - 2017/2018

[Spooz Top 2]

This IHS almost looks too obvious... a little Too Sweet... could very well be a bull trap... but one has to trade what one sees... I`d like to see some quick separation here to the North.

We really should have held that close up North at 2720... I couldn`t help but lighten my load on all lifts.. something may be rotten in Denmark... I anticipate a pretty sizeable gap tomorrow in the AM.

Volatility at or near market extremes are usually indicative of a change of direction with a big move to follow... That Monster 500 Handle single day move in Crude just may be the precursor!

 

[Spooz Top 2]

Oil prices do not have correlation to ES

It`s all correlated.. even GC

 

[Buy1Sell2]

For you, even a market crash would be a cute little pullback.

I've asked you this before and I don't think you've answered.

What would it take for you to reverse this so called up trend? Are you looking at some kind of trend line on the monthly?

Most other technical definitions would say that the up trend is broken. This does of course not mean we enter a bear market or that we're crashing. We could be consolidating before resuming an up trend and new highs. Or we could simply enter a longer period of consolidation.

Regardless, I think it's safe to say that we're not currently in an 'upmarket'.

 

[FriskyCat]

So you are long from the top of the band and have about a 570 pt stop in ES according to that chart.

 

[Pekelo]

I haven't been long for a while.

I might have missed it, where did you get out of the 2900 long?

By the way the journey to travel around the world starts with a small step.

 

[FriskyCat]

I might have missed it, where did you get out of the 2900 long?

By the way the journey to travel around the world starts with a small step.

He was referring to crude oil.

 

[Aj2014]

nasty sell of from the pre market highs from a few hours ago.
Expecting yet more downside at a guess. Bears still seem in control
Will wait until the open to make a trade I think

 

[mastacoli71]

Especially since Rickshaw Man went AWOL.

Lol...I remember that guy. I wonder if he blew up his account.

 

[mastacoli71]

Nice chart. What’s the purpose? To show how long the bull run lasted as it has come to an end???

 

[mastacoli71]

It`s all correlated.. even GC

Not even worth debating with an Uber bull. I have a friend that has the same mindset. Guy sees only long trades. I told him if he wants to short to just flip his screens upside down. He still can’t pull the trigger. In the meantime he is down huge for the last two months but looks only at every buying opportunity. He is somewhat shell shocked.

Also know of another guy that made $4 mil trading into dot com bubble. When mkt started tanking, he drew acct down to $1mil. F’d his mindset up so badly he quit trading. Imagine that...still had $1mil in account but could not pull the trigger any longer.

That’s how psychological this game is!