ES Journal - 2019/2020

[pauk]

3500 tonight would be cool

 

[wave]

Most stops have now moved from around 3460 to around 3470. The next stop level movement would be around 3478. That should be it for this run today.

 

[Buy1Sell2]

Out at 3059.25 for a gain of 614.25 pts. I've rolled into Sep long at 3049.00. Reevaluation area will be 2480.00

Reevaluation area is now 2832.00. Pricing currently is 3339.00

WWWWWWWWWWWAAAAAAAAAAHHHHHHHHHHHHHHHHHHOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!! Pricing is 3477. Reevaluation area is now 3060.

 

[Laissez Faire]

Great trade, @Buy1Sell2.

 

[wiesman02]

Now its time for surprise #2. Time to give the entire sessions gains back.

 

[Laissez Faire]

But wow. What a market. ES pretty much never looked back once the 3400 level was cleared. Will the S&P now continue printing daily ATHs like NQ have been doing for the last two months?

At this point - it seems like it's just numbers on a screen. Maybe that's what it's been all the time. And if it's just numbers on a screen - what's to stop this market from here?

I haven't been fighting this market and have taken plenty of longs, so I'm not complaining. But it does seem ridiculous at this point.

My investor friends who were scared to death and pale as ghosts in March and FINALLY humbled are now made whole and then some.

 

[wave]

From nothingness to somethingness...That’s all you need to do.

 

[wave]

For all you know, that nothing little short may turn out to be a new something down trend

 

[pauk]

we have to see a blast through 3400 at some point soon. Maybe 3440 area, and then maybe a drop to 3350 or so is my guess. Enough to get the bearts thinking we might have a massive drop, and then we go to new highs at 3800+
Same story as always

You still looking for this? (was a nice call at the time when we were about 3360)

 

[Laissez Faire]

For all you know, that nothing little short may turn out to be a new something down trend.

I try to keep an open mind, but it's hard to see a downtrend of any magnitude at this point - as long as the conditions which are driving this market still remains in effect.

Maybe the US election can shake things up, but even a Biden win does not seem to be a certain death blow to the market.

There was a time when markets actually were free or at least more free than this, but government intervention seems to only increase.