ES Journal - 2019/2020

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Laissez Faire said:
Got it.

Sure, we did indeed close lower than we opened, but personally, I would rather focus on the fact that we closed higher than yesterday and close to top of the weekly range.

Thursday gap up with a lower close and a positive change on the day have an average change of + 0,30 % the following day with a 60 % chance of a positive close on the day.

So, on that basis alone it's not particularly bearish, IMO.
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My take, market is being pumped in order to escape.
Gap ups do the job nicely :)
 
Anything other than a very negative open tomorrow should be quite bullish on the day.

themickey said:
My take, market is being pumped in order to escape.
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Quite likely. I think there's a lot of risk in the markets at the moment and nobody should be surprised to see a decent sell lower in October.
 
Laissez Faire said:
but personally, I would rather focus on the fact that we closed higher than yesterday and close to top of the weekly range.

Thursday gap up with a lower close and a positive change on the day have an average change of + 0,30 % the following day with a 60 % chance of a positive close on the day.

.
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As long as you are jumping in and out, I guess that's ok.
But these markets are driven by two things.
News in the macro, and math in the micro.
The news is bs... but the math is precision.
 
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