ES Journal - 2017/2018

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mbondy said:
The Fed is set to raise rates so long as there is no economic disaster sighted on the horizon.

A pullback in the housing market or stocks or whatever is not considered disastrous... the Fed have been talking up 'overvalued asset prices' for over a year now and has made it a literal part of their mandate to scale them back. In other words, stocks drop and the Fed says 'amen'.

I think once the market digests this increase, it will just keep driving upward like it has for the last 10 years. There's nothing in the near future that I can see to hold this market down that hasn't already been happening for the last 2 years.

Tldr still bullish, sitting on the sidelines waiting for signs of sustained strength.
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There is one person to blame and she is no longer in office. This should have been done 3 years ago. He is simply just cleaning up her mess.
 
Most of these "most owned" stocks are still in the initial stages of reversing the broken parabola. "Pullbacks" don't happen when stocks break this far away and above longer term MA's or reasonable growth.
 
Nice little bounce off the lows. Now that we have the 2530 initially cleared out we can begin looking at whether or not the move will have legs. I would look for a nice bounce and then if there is follow thru down(*not necessarily tomorrow) we'll then be in a bear market.
 
Spooz Top 2 said:
ESU... Significant Fib Con Zones... These are conservative entry zones for shorts!

R1- 2592-2599*

R2- 2611-12*

R3- 2631-38*
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Hope you guys caught some of that 92 Kiss at R1.... & smacked the living shyt out of all the generous retracements on this bloated, over bought pig... all the way down, like I did!

Continue to smack the lifts with extreme prejudice...

See you at 2325-30 ... for starters.
 
Spooz Top 2 said:
Closing price below 2530 / last active lo was the death knell short term for Bullys...

B1, time to fold that tent & kill that albatross 2920+ Long position... just sayin`!
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You know what longs are thinking now...”this is so oversold and we are due for a bounce!”...means more pain to come
 
vader traded whilst I was out

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Don't think he called this one from looking back at his feed, so glad I didn't miss out.
 
With the Jan 26 high being the end of an impulse leg on the daily's & week charts, have to consider Jan thru now trade as a-b-c. ..and where does c terminate , then beginning another impulse - looking at the big picture.?
 
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