ES Journal - 2017/2018

[MidwesternTrader]

Now let's see what the market can do without an unstoppable FAANG to keep it afloat.

NFLX down 12% after hours on subscriber growth miss.

AMZN will complete a bearish island reversal tomorrow if the stock opens below 1813 and trades lower for the day.

That will teach me to talk trash about the FAANG. In the first two hours of trading, NFLX has recovered about $40 from its opening low . After hitting an early low of $1,800, AMZN has added $50. +2.8% adding about $25B in market cap in just 2 hours. Astonishing really.

In 2018 there have been 32 open down gaps of -30 points or greater on the cash NDX. 19 of those have reversed higher for an average +95 day. 13 continued lower for an average -75 day.

 

[Buy1Sell2]

That will teach me to talk trash about the FAANG. In the first two hours of trading, NFLX has recovered about $40 from its opening low . After hitting an early low of $1,800, AMZN has added $50. +2.8% adding about $25B in market cap in just 2 hours. Astonishing really.

In 2018 there have been 32 open down gaps of -30 points or greater on the cash NDX. 19 of those have reversed higher for an average +95 day. 13 continued lower for an average -75 day.

You are making a great case for why I like overnight pullback on the ES futures in terms of day trading long

 

[Buy1Sell2]

New floor being built at 2700. Continuing long here.

Floor was indeed built at 2700 and likely the new floor is 2740 as described in later postings.

 

[Buy1Sell2]

New floor is being worked on at 2800 . For now 2740 continues as base.

 

[Buy1Sell2]

I sold 2730

Give my B1's 2700 "floor"

Current pricing 2810.

 

[manonfire]

I used to spend a great deal of time studying indexing, weightings, etc. Not all that useful, just found it interesting to see what was under the hood. I agree, out of step. Looks at sox, not even close to June highs.

Looking for a trade able reversal from here to 2815 spx.

Short at 2817 es, 15 handle initial stop.

 

[_eug_]

Exited my long here from Monday July 2nd. Exit price was 2815, entry 2709. Could be pre-mature but I dont feel comfortable being long here anymore. This was a gain of 106 points.

Slowing of bullish momentum and us being at the first test of the Distribution that brought us down from End of January highs why I am bailing.

 

[Buy1Sell2]

Exited my long here from Monday July 2nd. Exit price was 2815, entry 2709. Could be pre-mature but I dont feel comfortable being long here anymore. This was a gain of 106 points.

Slowing of bullish momentum and us being at the first test of the Distribution that brought us down from End of January highs why I am bailing.

Short term, I don't see issues from the long side unles cash were to Pierce 2785 area and not rebound quickly. ---Nice trade.

 

[manonfire]

Been awhile since I have seen one of these July days where they can lull you to sleep and rip it into close.

 

[mtnrnr]

Took a quick stop earlier on a long at 2808.
Long at 2801 @6:57pdt. +3.5 on half.