ES Journal - 2019/2020

[Laissez Faire]

If we zoom out a bit and review the last weeks - here's what's happened:

1. We found a bottom in week 13 on Monday the 23rd of March @ 2179,50 ES. We traded higher for the remainder of that week and closed near the top of the range.

2. Week 14 (last week) was a consolidation at the top of the range of week 13.

3. Week 15, this week, broke out of the high of the last two weeks and have traded higher every single day and closed today at the top of the weekly range.

The week high came today at 2809,50 and is the highest reading from the bottom and puts us at an amazing 28,91 % from the bottom to top. This also happen to coincide with the 50 % retracement of this entire down move.

Just as everyone was amazed at how fast we dropped from the top, I'm sure a few must be equally dazzled by how fast we've recovered off the low. And to my knowledge - without any particularly bullish news to support it beyond the FED printing shit loads of money and lowering rates to zero.

Where to from here? I don't know.

I wouldn't be surprised if we reversed and resumed selling lower from here, but honestly, this is looking pretty bullish to me from the technical side of things. Maybe a small pullback before we make another push higher.

 

[schizo]

Where to from here? I don't know.

Oh, c'mon, just say it (dammit!)

 

[syswizard]

I'm no expert on the VIX, but I believe VIX is a measure of implied volatility as in daily percentage change over the next 30 days.
The statistic I'm showing is a record of actual 'micro' price movement, i.e., swings over the course of a given day.

You are correct, but VIX is a standard of sorts for measuring volatlity for the SPX. So your volatility measure is a proprietary calc ?

 

[Relentless]

Hey guys!

This is my first actual post though I've been lurking for quite some time on the boards (especially this thread). I've just recently gotten back into trading / investing and wanted to say I really appreciate all of the contributions you guys make here. There is a ton of great material / fantastic calls if you are willing to read through it and keep up.

Wanna toss out some specific props (and I'll probably miss some sorry)...

@Buy1Sell2 (takes a lot of flack but always super respectful and quite frankly regardless of what anyone thinks of you - I'm thankful you created this thread)
@speedo (voice of reason / consistency)
@NQurious (High Priestess of HWB? )
@Laissez Faire (love the data / stats + level-headed mindset)
@schizo (entertaining Master of Flip & a nice guy with good insights)
@Spooz Top 2 (great ability to visualize the whole picture)
@SPYgrain (constant assessment / recognition of important levels)
@vanzandt (always throwing out other great non-ES opportunities)
@trdes (only recently caught your nick but won't forget it now after some of your recent calls)
@Sekiyo (levels and great charts)
@theapprentice (tenacity and accountability)

Again sorry if I missed ya I know there's a wall of others that really do try to contribute and be good guys so thanks to you as well. Just trying to give some credit where credit is do.

Hopefully everyone here can keep learning and growing - I know I'm definitely looking forward to continued activity here.

Happy Easter everyone!

 

[Relentless]

Mark me short 2785 ESM for a swing. Wouldn't be surprised intraday if we don't get a double top, 2B top, or a lower high 123 top. A close above 2813.11 may be enough to have me go flat into the weekend.

This should be good for about 600 points/contract in the next few days to weeks.

Hey @NQurious. Just curious if you still have the same conviction on this call after that HWB move off the lows at the end of today?

Thanks!

EDIT: Btw sick call off the highs of the day today!

 

[NQurious]

Thanks, I did very well today on that one. Traded a decent size and covered on the wash into the lows this afternoon (@speedo can vouch for the timeliness of the cover). Gave me a nice cushion to be comfortable holding the swing position into Monday's open.

Still holding my swing position short. High conviction but I will abide by the tape.

 

[Relentless]

Thanks, I did very well today on that one. Traded a decent size and covered on the wash into the lows this afternoon (@speedo can vouch for the timeliness of the cover). Gave me a nice cushion to be comfortable holding the swing position into Monday's open.

Still holding my swing position short. High conviction but I will abide by the tape.

Hope you bag it - thanks for the response!

 

[vanzandt]

Let's rip into Easter---and then tomorrow can be a total Grey Goose Day.

I must be quarantining too much. Never heard that cover.
Two thumbs up. I like it. Good one.

Edit.... Daaamn. That's good.

Edit 2. Still listening for a third time.
Gotta put that one on the workout play-list 4sure.

Ooookay... yeah I've heard these guys.
Out of Baltimore... man I would have bet anything just listening, that that it was an LA band. Hmph. Pretty cool.

 

[vanzandt]

I must be quarantining too much. Never heard that cover.
Two thumbs up. I like it. Good one.

Edit.... Daaamn. That's good.

Edit 2. Still listening for a third time.
Gotta put that one on the workout play-list 4sure.

Ooookay... yeah I've heard these guys.
Out of Baltimore... man I would have bet anything just listening, that it was an LA band. Hmph. Pretty cool.

 

[vanzandt]

WYNN looks like a screaming long here.

I told you it would mark a near term bottom. Led the turnaround by 4 trading days.
Bingo bango bongo....