ES Journal - 2019/2020

[Laissez Faire]

Looks like it'll be in chop zone today.

You know markets have been volatile when an 80 point range is chop on the ES.

 

[Noone123]

You know markets have been volatile when an 80 point range is chop on the ES.

We already saw swings of 150 pts in minutes a few times intraday. Chop of 80 pts is downplaying it already.

 

[Noone123]

If FDA approves malaria drugs to be used within 2 weeks, we could have a V sharp recovery. It gets increasingly risky to short. Markets could rally like crazy any time.

 

[Buy1Sell2]

Trump able to allow HCQ all by himself. He will do so very soon if FDA balks.

 

[Buy1Sell2]

Barring some other surprise catalyst, our national nightmare is over. We head back up in a yuge way. Betting odds for Trump over Biden have increased 1 percent in the last 2 hours.

 

[Noone123]

Barring some other surprise catalyst, our national nightmare is over. We head back up in a yuge way. Betting odds for Trump over Biden have increased 1 percent in the last 2 hours.

Nothing is over until it's over.

 

[Laissez Faire]

If FDA approves malaria drugs to be used within 2 weeks, we could have a V sharp recovery. It gets increasingly risky to short. Markets could rally like crazy any time.

Does that V go all the way up to the ATH?

I do agree that it's increasingly risky to short and for me it does not really matter either way as a day trader, but I'm not so sure we'll see a strong and fast recovery. It did happen in early 2019, but then the markets were down 'only' 20 % and I believe mostly on uncertainty and fear with regards to trade talks and tarrifs.

The fundamental picture appears to be different this time and there's already been done damage to the economy that may not be so fast to reverse.

 

[Sekiyo]

Seller @ 2500
Let's see if we reach it.

First short @ 2410
TP 2350

Out +10 pts.
Not sure what the market wants to do.

Looks bearish but ...
A move towards 2500 is possible.

Not a good R:R
90 risk vs 60 reward

Seller @2490

 

[Noone123]

Does that V go all the way up to the ATH?

I do agree that it's increasingly risky to short and for me it does not really matter either way as a day trader, but I'm not so sure we'll see a strong and fast recovery. It did happen in early 2019, but then the markets were down 'only' 20 % and I believe mostly on uncertainty and fear with regards to trade talks and tarrifs.

The fundamental picture appears to be different this time and there's already been done damage to the economy that may not be so fast to reverse.

Likely not V to ATH. There's already enough damage to the economy this year, although, low rate and stimulus could help us get there sooner. Maybe 2021 to get back to ATH.

 

[Noone123]

Profit taking is a day early, which I was expecting for Friday. I think we will hit 2500 today or tmr.