ES Journal - 2019/2020

Laissez Faire · Mar 17, 2020

As for today - it's an expected consolidation day after yesterday's historic down day. We're pretty much repeating last Tuesday here.

I would bet on a close above 2430 by 16:00.

SPYgrain · Mar 17, 2020

Laissez Faire said:
The post above was made on the 25th of February.

After that day - we've had 7 days exceeding that with the largest being 218,25 points last Friday.

For the last 15 days we have an average RTH range of 135 ES points and an average daily (absolute) change of 4,97 %.

I'm sure I'm not the only one who's starting to feel that 100 + point ranges are completely normal..

I'm curious how long this volatility will last, though?

A While imo..action/reaction, etc.

schizo · Mar 17, 2020

schizo said:
I see 2600-2610 for tomorrow's HOD. But for the moment, 5% Limit Up remains at 2520-ish.

Alright boys, get your seat belts on and hang tight.

Spooz Top 2 · Mar 17, 2020

Anticipating a 150 Handle move to 2650 at minimum.... Right shoulder was the best place to cheat at positioning yourself long off the 15 min IHS .... You could feel the turbo blasters in the hi 70`s warming up!

SPYgrain · Mar 17, 2020

Spooz Top 2 said:
Anticipating a 150 Handle move to 2650 at minimum.... Right shoulder was the best place to cheat at positioning yourself long off the 15 min IHS .... You could feel the turbo blasters in the hi 70`s warming up!

2650 would be without any fib extension - being 3rd wave could add .38 or .5, etc
...and might not breakout again till tonight/tomorrow...didn't like this little 3rd leg being shorter. (1min and tick chart)

SPYgrain · Mar 17, 2020

bottom line - difficult to trade with less than 20 point stop!

speedo · Mar 17, 2020

SPYgrain said:
bottom line - difficult to trade with less than 20 point stop!

not if you're doing what I'm doing...but I don't aim for 40 point targets either.

Spooz Top 2 · Mar 17, 2020

vanzandt said:
Smart as a f'n whip you are Spooz. Good plan.
Write some on $WORK if it drops again. I like this stock. I liked it at $25.
I loaded the f up on it today at the open. And then bought some more.
It may go down again, but when this market reverses....

Damn nice call VZ... up 20%!... we’re lookin good there bro!

schizo · Mar 17, 2020

SPYgrain said:
2650 would be without any fib extension - being 3rd wave could add .38 or .5, etc
...and might not breakout again till tonight/tomorrow...didn't like this little 3rd leg being shorter. (1min and tick chart)

I don't know about Fib, but a measured move gives 2620 as the target for the intraday trend. That is, if we can get back up.

Spooz Top 2 · Mar 17, 2020

15 min wedge/ pennant ... looking to bust North!