ES Journal - 2019/2020

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vanzandt said:
Edit: yep, retail sales worst in a decade.
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Hard to believe this was a surprise. This is what happens when you take 800,000 American families out of the market by refusing to pay their salaries.

I wouldn't be surprised to see a rally through the day that retraces the entire sell off and ends the day at new rally highs.

At the same time, it is only 8:50 AM EST so no telling where this goes.

2742.25 first bullish line in the sand, imo

2721.75 down to 2712 or so next level down, imo
 
NQurious said:
Hard to believe this was a surprise. This is what happens when you take 800,000 American families out of the market by refusing to pay their salaries.
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Sorry, I'm not really a fundamentals guys, just a technical day trader to be honest. But my understanding is now that these numbers were December retail sales? So December - the Christmas month, sales were down 1.2% year over year ( I presume year over year). So then January could be even worse, as these numbers most likely do not reflect a pullback i n spending by those who were forced to pull back their spending during January.

I might be wrong, like I said - I'm am not a fundamentals guy and I wouldn't even have know that the reaction was to poor retail sales if not for the post above mine.
 
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