ES Journal - 2019/2020

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mastacoli71 said:
This is what I like to see, a rising mkt with rising VIX. Added more at 22 with avg now at 10
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Covered some at 2598. Back down to 1/3 of max position and will add back on retracement during RTH. I am expecting a move down today at least to 83.
 
Pekelo said:
I used the cash chart. Anyway, here we are 20 pts lower since I posted...
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I was referring to the daily cash chart that we have not seen a reversal down yet. Thus, for now, I believe the selloff you referenced from 5 min chart is just pullback-----and I like pullbacks!
 
Buy1Sell2 said:
I was referring to the daily cash chart that we have not seen a reversal down yet. Thus, for now, I believe the selloff you referenced from 5 min chart is just pullback-----and I like pullbacks!
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Why so bullish B1?
Today alone we have Taiwan Semi guiding their forward revenues down significantly from previous estimates. PPG's revenues were in line but still down YOY.
FUL which is a great barometer of residential and commercial construction in both domestic and international markets, had a horrible miss.

I know long term history agrees with you on the general direction being up, but what is your timeframe here? Days, months, or years? Years I agree. Days/months... maybe not so much.
Thoughts?
 
vanzandt said:
Why so bullish B1?
Today alone we have Taiwan Semi guiding their forward revenues down significantly from previous estimates. PPG's revenues were in line but still down YOY.
FUL which is a great barometer of residential and commercial construction in both domestic and international markets, had a horrible miss.

I know long term history agrees with you on the general direction being up, but what is your timeframe here? Days, months, or years? Years I agree. Days/months... maybe not so much.
Thoughts?
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Daily chart is bullish. --I really don'y pay attention to news. It's too much info and is easily interpreted incorrecty.
 
Here is the chart I was talking about. 1-2 are the morning, 3-4 are the afternoon double tops. The RSI divergence is very noticeable.
 

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Pekelo said:
Here is the chart I was talking about. 1-2 are the morning, 3-4 are the afternoon double tops. The RSI divergence is very noticeable.
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Yes--and I did see that but it was counter to the daily so I disregarded it for the overall bullish bias and considered it to be a setup for pullback overnight. It was a great short term signal.
 
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