ES Journal - 2017/2018

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Overnight action has been much stronger than expected. Watch for island reversal today if an upgap goes unfilled, then we will go up much higher in the next few days...
 
manonfire said:
The mandate of the President's Working Group on Financial Market is extremely broad and ambiguous. It's primary mandate is to maintain investor confidence. Yellen/Obama used this mandate as a political tool to elevate markets. Suppressing vol became the go to trade of the NY Fed and led what unfolded in early February under the new sheriff in town.

I was struck by a particular statement Powell made during his recent testimony before the Senate. In response to some question he answered and added that it is not the Fed's job to see that investors are protected from losses in the market, and he repeated for good measure. I don't see the ppt being as active going forward and a return to normal volatility, two way market.
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Thanks & Refreshing to hear MOF, The Fed has zero responsibility to save anyone.. Main st, Walll, or Banks.. Markets have not had the opportunity to trade freely since PPT was implemented during the Reagan Admin... So very nice to hear concept of an actual "free market" again!

I have a family friend whom has & continues to work for the NY F** now for over 20 yrs as a quant whom writes these very algo`s ... We speak at length during family parties/ Get Togethers etc..,. he would never betray his fiduciary responsibility... but lets just say I can read between the lines fairly well & can see the forest for the trees........... just sayin`.
 
Buy1Sell2 said:
There is no such thing as a PPT and any time spent worrying about it is wasted.
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With all due respect.. It`s been documented many moons ago B.

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nickynoes said:
Put enough lines on a chart and price is guaranteed to eventually hit one of them.
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true, but they do help me. The lines are just linear regression on variable timeframes, with offsets to the highs and lows to define downward or upward regressions in different timeframes.
 
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