ES Journal - 2019/2020

[vanzandt]

2650 new base?
All we need now is some kind of deal in DC and up we go.

 

[mastacoli71]

View attachment 196942

Almost a mirror image of last Jan-Feb decline.

Hitting resistance line of rising wedge on daily now. This would be touch #3.

 

[Buy1Sell2]

Finally have a setup worthy of coming down and taking out the cash gap. Let's do it.

Oh well---I guess it's off to the races this morning.

 

[SPYgrain]

You're welcome. Please let us know if you discover anything worthwhile. I will take some time to properly backtest it myself.

In my opinion, it can both be helpful and deceiving/confusing. Not every signal/divergence is as clear as on the chart I posted and not every divergence is useful. I don't think NQ always leads either.

I think the correct approach would be to rely on ES if that's what you're trading - and receive additional confirmation/confidence if NQ agrees.

Jack Hershey and his disciples claims that YM leads the ES.

Yes, many signals last 3 days - I use 2 or 3 min chart with ES/NQ overlay like one posted above. 2 more clear NQ strength over ES occurred on 912 and 928 2 min bar for buy entry ! cst.
This is backtesting..it will be tricky to use real time..the ones I notice are very short term signals - a few minutes in duration..Then you have larger diverges like your chart from 3 days ago..

 

[Rickshaw Man]

View attachment 196942

Almost a mirror image of last Jan-Feb decline.

Difference is the Fed is now pulling back....trying to jaw bone the markets with there dovish tone.

 

[Rickshaw Man]

Yeah this Q1 recession we're in is brutal ain't it?

We made it thru that 90 day bear market. Now back to the 11 year bull market. The bull that never dies it seems.

 

[Rickshaw Man]

ES weekly chart.Broke support now back up testing support. Seems to have plowed right thru it. Daily still showing lower high and lower lows. Im very curious as to how a pull back will be met. For the moment all news seems to be good news.

 

[ESfocus]

Oh well---I guess it's off to the races this morning.

Oh well is not a strategy.

 

[Buy1Sell2]

The floor in this market for the time being is without a doubt 2600. --until further notice. I would like the move today to stall out and close right aroung 2670. We can attack the resistance at 2690 on Tues. I still believe more selling will come in the 2690 to 2730 areas so I'll be careful there.

 

[Specterx]

FWIW - classic TA look at SPX, midpoint (or triangle apex) from late 2018 consolidation is around 2720, also multiday/weekly MAs in that same area. Not really a fan of channels and TLs but there's a channel there too.