That MACD is highly concerning for Bullys... as is Relative Strength ... as is the 2332 TL.......... I will agree with B , that the more simplistic the chart, the more meaningful it is.
ES Journal - 2017/2018
- Thread starter Buy1Sell2
- Start date
- Status
That MACD is highly concerning for Bullys... as is Relative Strength ... as is the 2332 TL.......... I will agree with B , that the more simplistic the chart, the more meaningful it is.
No. it's to show how I look at things long term.
ES and SPX are long biased markets even in downtrends. One can always buy dips even in bear markets and make money.
I don't believe he had an account actually.
Again I'll throw in a simplified volume analysis of RTH ES.
The increasing, but non-accelerating volume of the last 4 trading days has created an inflection point for shorts to consider flattening, and for the more aggressive to whom the heightened daily volatility is acceptable, a reverse to long, but only as a trade. As previous, 2792 or so negates shorts in this analysis. With a 100+ handle zone, adjust to your own taste.
@Spooz Top 2 mentioned the 2720 area "should" have held yesterday. I'm saying on the daily, trading above and definitely on a close today 2715 or above solidifies the cause for shorts to take profits, for the moment. Volume will be important on such a move. Right now news is a driver... BREXIT, ITLEXIT, tarrifs, a dose of possible return of regulations in the USA, etc. I know how to read music though.
On the topic of different assets being connected... all of those mentioned, US-stocks, ES, GC, CL are connected in AT LEAST one way... the USD. Holders of Euro and Euro denominated assets are down almost 6% YTD in currency value. Similar for some other majors. Naz is still up YTD. As @mastacoli71 hinted, some people just won't get it.
I'll stop posting about the Daily now... I don't use it to trade. It's just something different for me.
Trade On!
The increasing, but non-accelerating volume of the last 4 trading days has created an inflection point for shorts to consider flattening, and for the more aggressive to whom the heightened daily volatility is acceptable, a reverse to long, but only as a trade. As previous, 2792 or so negates shorts in this analysis. With a 100+ handle zone, adjust to your own taste.
@Spooz Top 2 mentioned the 2720 area "should" have held yesterday. I'm saying on the daily, trading above and definitely on a close today 2715 or above solidifies the cause for shorts to take profits, for the moment. Volume will be important on such a move. Right now news is a driver... BREXIT, ITLEXIT, tarrifs, a dose of possible return of regulations in the USA, etc. I know how to read music though.
On the topic of different assets being connected... all of those mentioned, US-stocks, ES, GC, CL are connected in AT LEAST one way... the USD. Holders of Euro and Euro denominated assets are down almost 6% YTD in currency value. Similar for some other majors. Naz is still up YTD. As @mastacoli71 hinted, some people just won't get it.
I'll stop posting about the Daily now... I don't use it to trade. It's just something different for me.
Trade On!
But there is no definitive positive or negative correlation with ES and Oil.
That was quick!
Taking +10 on half here at 2677 already
stop at b/e on rest
will take other half at maybe 2637
- Status