ES Journal - 2017/2018

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volente_00 said:
How about a bounce from 2630's and creating an ascending triangle

3030 long term objective

Call me crazy but unless we take out the low this will turn into a higher low
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There has to be a catalyst for an all time new high anytime soon. Again, with rates on the rise (no the fed is not going to pull back), world debt at all time highs, QE being withdrawn, corporate outlooks negative, what is left?

So yes I think you are crazy even if we don’t make lower low. There is nothing left in the tank...it’s f’in empty!!!
 
And for those that did not take profits on the FANGS when they hit their ridiculous ATH, shame on you!!! Guy I sit with in the office is crying over spilled milk because he got greedy!!!
 
mastacoli71 said:
There has to be a catalyst for an all time new high anytime soon. Again, with rates on the rise (no the fed is not going to pull back), world debt at all time highs, QE being withdrawn, corporate outlooks negative, what is left?

So yes I think you are crazy even if we don’t make lower low. There is nothing left in the tank...it’s f’in empty!!!
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I was also called crazy back in February and April when the world was ending and I said SPX would make a higher high and touch 3000.

2619/2620 spx is the exact area if this is going to happen


The problem with the bear case is right now all we are doing is backtesting long term up trend levels. Unless you start breaking them I don't see bearish technicals with higher highs and higher lows on the long term chart
 
mastacoli71 said:
There has to be a catalyst for an all time new high anytime soon. Again, with rates on the rise (no the fed is not going to pull back), world debt at all time highs, QE being withdrawn, corporate outlooks negative, what is left?

So yes I think you are crazy even if we don’t make lower low. There is nothing left in the tank...it’s f’in empty!!!
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Rates have been rising for 2 years now.
If you look at the past historically we get a recession once rates get raised a total of 4%. As of right we we are only half way there with a 2% increase.
 
volente_00 said:
I was also called crazy back in February and April when the world was ending and I said SPX would make a higher high and touch 3000.
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You seemed to have been calling bottoms since this down move started. The last one being the IHS that failed.

The world might not be ending, but it seems like you and some others in this thread isn't even considering the fact that you might be wrong and that this is indeed the start of a bear market?

Or do you have an alternative scenario mapped out also? :)
 
speedo said:
Laissez Faire..here is an example from today of what I was talking about yesterday
First chart is highest tf showing impulse move off low and a first Cross (ma's) second chart is entry off div low on low tf
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Thanks for sharing, speedo. Good stuff. :)
 
Laissez Faire said:
You seemed to have been calling bottoms since this down move started. The last one being the IHS that failed.

The world might not be ending, but it seems like you and some others in this thread isn't even considering the fact that you might be wrong and that this is indeed the start of a bear market?

Or do you have an alternative scenario mapped out also? :)
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The IHS hasn't technically failed yet. It's just a little sloppy. It kinda looks more like a Double Bottom now.
 
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