ES Journal - 2019/2020

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vanzandt said:
This just hit the wires, might be good for a bump....
https://www.reuters.com/article/us-...challenges-remain-u-s-officials-idUSKCN1R905P
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It can indeed. Maybe even be the platform to stabilize the base and keep price above 2790.00. My longer term up trend is still not violated and we can very well get more significant highs to 2900.00. But do not forget about the short term trend violations, any moves above 2790.00 can trade to 2840.00 and between. And if we do get failures under 2840.00, and downlegs past and under 2790.00, they could very well end the uptrend.
 
SPYgrain said:
I'm seein a print of 2835-40 before next down leg. the range for now..
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That would make me analyze then that a break at 2835.00 can be a false break to the upside.

What are you using? If you are comfortable with that question.
 
It really looks like buyers are being exhausted at 2790-2800. The push up at the close was weak, we couldnt even break above swing high. 2730-2750 next support.
 
_eug_ said:
It really looks like buyers are being exhausted at 2790-2800. The push up at the close was weak, we couldnt even break above swing high. 2730-2750 next support.
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Sellers have exhausted twice, both Monday 25th and Wednesday 27th of this week. 2790 holds superiority at this point for a longer term position up, probes.
 
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There was not much of an accumulation at yesterdays low, just a few 15 minute bars. If anything I believe it was short covering not ininitiation for new longs. The big moves up tend to happen after a solid amount of sideways bars, lots contracts changing hands and people getting trapped.
 
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