ES Journal - 2017/2018

[treeman]

I assume you are speaking of the contracting range that has formed since the February low. If so, imho, that period of range contraction is likely over as of this morning, range should now expand, and the market likely is heading to 2450's to 2550's. Could go lower, but have to give an almost 10 year old bull market the benefit of the doubt - so potential Double Bottom and back to all time highs. This is not a call - I'm no Nostradamus. Just saying what the possibilities look like to me today.

See y'all after lunch

Yes, and a ton of false momentum indications.. 4/15-16 is a good example of positioning (short) where I have to just shrug and take the loss. But the commentary is more about neither the bulls/bears having an advantage in this range. I still see a strong buy on the horizon, though my conviction has wavered. I’m still considering a mini-plunge, but the January price action (specifically the parabolic) hasn’t really resolved to my satisfaction. Those things are nasty

 

[mastacoli71]

Covered 2605...avg short 2661...runner left for bigger move

Flat 2605...looking to get short again on deeper retracement.

 

[treeman]

Very easy to trade on days like this. The Brooks traders ought to be cleaning up.

Only 1 abandoned l1 and it’s l2 sibling a tick from a sell.. triggered.

 

[mbondy]

Now that's a friggen rally!

 

[Spooz Top 2]

Hammer Time!......... Low risk Long entry off TL kiss... ES & YM.. Nice reactionary move here!
YM is Sept Contract... same template.

 

[Spooz Top 2]

Do Bullys have enough juice here to test the upper TL build out before push thru the lower support line in the sand? We shall see.. Not looking for too much here as i`m eyeing Fibs & leaning Heavy!

 

[speedo]

 

[speedo]

Nice clean action off yesterdays test of overnight high.

 

[Buy1Sell2]

Market dipped more than I expected this morning but there appears to be good foundation here. We are now at the 2625 to 2630 line again and I am banking on it not being a new ceiling and instead being a new floor. I love pullback--Staying long.

 

[treeman]

The bulls have volume today. Really good round trip action.