ES Journal - 2017/2018

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mastacoli71 said:
You know what longs are thinking now...”this is so oversold and we are due for a bounce!”...means more pain to come
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That's what I thought too. By the time we reach the bear definition he will say, now it is time for a good bounce, this is the time to be bullish!
 
Buy1Sell2 said:
Short 2508.25 Initial stop 2513.25
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No sir, I disagree with this post, as you are trading the 03/19 contract now. You should request this thread be closed or whatever, and have everything going to the new thread, the 2019/2020 thread? Yeah? Hehe.
 
Now that we have touched the low from earlier today again, it's ok now to look at a long bounce. We would need to get over 2515 and have follow through to have any bounce obtain legs.
 
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Pekelo said:
That's what I thought too. By the time we reach the bear definition he will say, now it is time for a good bounce, this is the time to be bullish!
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Different mkt structure but we could very well bounce for next leg down. We are quite stretched from the 50 and 200 day. However, operators will not make it easy.
 
Couple of things that might stall the market purge. Measured move from Oct 3(H)-Oct 29(L) = Dec 3(H)-Dec 20(L) and a lower channel line tag at yesterday's extreme.
 
Also 50% retrace of RUT from last 3 years.

RUT may be better buy than SPX.

Snap9.png
 
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