ES Journal - 2019/2020

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Buy1Sell2 said:
Looking now for 2493 to act as new support should we get down there (2501 pricing right now).
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This proved to be correct so far as well as the 2484 call earlier. Looking good right now, but with the approach again to 2520-2530, one needs to be watchful.
 
Buy1Sell2 said:
Yes--have stated numerous times that due to the thin market in afterhours, I do not have a hard stop. I revisit it during RTH and analyze whether the stop will be good. If above the mental stop like we were today, I put it back on at RTH opening. If below the stop, I analyze and see if it looks like we'll have a rally. For example, today if we would have been below I could easily see that a rally was in the offing and would let it run higher. --Most of the time though it hasn't printed and I just re-enter it the same or raise it (if I am long).
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BS.

ES traded through your stop before you posted for the day. You simply ignored it until the market reversed higher.

You have zero credibility. You would have made it a hard-stop in hindsight had ES remained below 62. @Buy1Sell2 went dark until it was trading 20 above his overnight stop.
 
Powerful resistance here at the 2520 area. They can't seem to totally knock down the move yet though. This is a promising aspect of this move.--It is my view that we will trade at 2525 within one hour.
 
beerntrading said:
2525 seems to be the long-term S/R wall it was 11 months ago...seems like we're pinging off the other side of it this time.
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Looks like short term support has formed at 2511--although we just had another strong sell signal on the 1 minute chart.
 
Buy1Sell2 said:
Looks like short term support has formed at 2511--although we just had another strong sell signal on the 1 minute chart.
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Didn't pan out as 1, 5, 15 all showed sell. I am not on any of those timeframes right now and will stay long.
 
Buy1Sell2 said:
Looks like short term support has formed at 2511--although we just had another strong sell signal on the 1 minute chart.
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We've been locked in the 2475 - 2525 range for the last 3 trading days. I'm not putting much faith in any moves within that.
 
Another observation, equity volume is surprisingly low today (15-30% under 5-day average), and that's mirrored in SPY and QQQ. I'm keeping that in mind while I'm watching the action today. You'd expect more volume on the first trading day of the year. My take on that is today's price action is a mid-term fake.
 
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