ES Journal - 2019/2020

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Buy1Sell2 said:
Huge move imminent from here til end of week and perhaps beyond. I suspect it will be to the upside. As always though trading is amout risk management. It's what you do with the winners and losers that is the edge. I believe that we have a rip coming into closing or overnight, but I would rather see a bit more pullback prior to. The closing move today will be very impressive . Here we go---
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I kinda disagree with you for the rest of the week. I think we might drift down into the kickoff of earnings season. No one is going to want to be blindsided by some gloomy forward guidance by some of the market movers. Not saying that the trend won't remain up, just perhaps the next few days may start down in anticipation of JPM and the likes.
We'll see.
 
We have reached the circle shown here and posted in the previous journal. The SMA line is about 5 pts away. I expect tomorrow to be red. Also there is an RSI divergence on the 5 mins chart, I take it as a topping signal...
 

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vanzandt said:
I kinda disagree with you for the rest of the week. I think we might drift down into the kickoff of earnings season. No one is going to want to be blindsided by some gloomy forward guidance by some of the market movers. Not saying that the trend won't remain up, just perhaps the next few days may start down in anticipation of JPM and the likes.
We'll see.
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That was a quote from last week and it came to pass. Right now the work is on establishing 2585 as new floor.
 
The RTH ranges have been decreasing all week with every day below the recent average. I'm wondering if we could be setting up for another leg down on the daily.

EDIT: Even though a 27,75 point range is decent by most standards, it's only a measly 45 % of the recent average range.
 
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