ES Journal - 2019/2020

Laissez Faire · Nov 2, 2019

We made ATHs on 4/5 days this week and closed the week at ATHs.

I think we can see a pullback (or not) early next week, but I definitely see new highs by end of next week.

wave · Nov 2, 2019

Music for riding trends

themickey · Nov 2, 2019

wave said:
Music for riding trends

Overnight · Nov 2, 2019

Laissez Faire said:
One may start to wonder...

I'm calling bullshit on this bull market. ATH is all fine and well. My love affair with it ended after it burned me the LAST two times we hit ATH and it pulled back at least 10% within a 3 month contract period (read, NQ, ES, YM). I got lucky to get out on those swings with a meager profit (and on one occasion, a big loss.)

And I still remember when I went long at ATH on YM back in May, around 27,300ish (The big loss). It has yet to get back to that point.

This bull market has burned me on swings because of Trump. There is nothing now that leads me to believe that the market will ever, ever, be like 2017. Ever. That was a one-and-done year. I am so bloody done believing in a bull market that cannot sustain itself because of the FEAR of this trade war. Bad Twit? Down we go 10-20%. It is an unsustainable bull market. We are now teetering on the verge of another drop, because of how and why we are here in the first place. Hope.

Personally, I KNOW the economy is doing well, for now. If the trade war shit would just end, we'd have sustainable UP.

But for now, damn the dark, damn the light. The chain is broken.

FXtrader8911 · Nov 2, 2019

Laissez Faire said:
It is indeed a bull market though.

I would not get too excited with the graph given, a steep rise to about the point where there was an even steeper fall does not show a bull market... it's merely a recovery, a steep rise from here is needed to say it's a bull market.

syswizard · Nov 2, 2019

Overnight said:
If the trade war shit would just end, we'd have sustainable UP.

"If only........" Remember, we are only on Phase 1 and that has been a struggle. I would imagine Phase 2 and Phase 3 are only going to be more difficult. This could last beyond the election.

Overnight · Nov 2, 2019

syswizard said:
"If only........" Remember, we are only on Phase 1 and that has been a struggle. I would imagine Phase 2 and Phase 2 are only going to be more difficult.

Just a few weeks ago, there was no such thing as a "phase" of the trade war. It was, "The talks are going well."

Phases. Sheesh, this is getting silly.

FriskyCat · Nov 2, 2019

Overnight said:
Just a few weeks ago, there was no such thing as a "phase" of the trade war. It was, "The talks are going well."

Phases. Sheesh, this is getting silly.

It's managed status quo 24/7/365. And yes it's all front run.

FXtrader8911 · Nov 2, 2019

Overnight said:
, this is getting silly

I worked in Asia for 20 years, quickly learned that the way the Chinese and other Asians negotiate is to nod affirmingly at everything then leave the room to continue to do as they always did. I think Trump & his team haven't got that yet.

FriskyCat · Nov 2, 2019

FXtrader8911 said:
I worked in Asia for 20 years, quickly learned that the way the Chinese and other Asians negotiate is to nod affermitely at everything then leave the room to continue to do as they always did. I think Trump & his team haven't got that yet.

It's a ruse. There is no "trade war agreement". There are an endless series of fake tweets and Fed liquidity injections to keep this facade going indefinitely.