ES Journal - 2019/2020

[cowf]

I am a support /resistance trend trader first and foremost. This lends itself to my getting stopped out as I place my stops many times too close to those levels. However, I make up for it with big wins.

So, are you basing your bear market off of and trading against the 2951.00 resistance? And what will you base the bear market off of if and when it exceeds 2951.00 ?

 

[Buy1Sell2]

So, are you basing your bear market off of and trading against the 2951.00 resistance? And what will you base the bear market off of if and when it exceeds 2951.00 ?

I don't see resistance at 2951 but the concept that you present is part of the equation. I believe we entered a bear market a month or so ago and this is a bear market rally that needs to be sold. I may have sold it too early or used a stop that was too close. We'll see.

 

[Buy1Sell2]

So, are you basing your bear market off of and trading against the 2951.00 resistance? And what will you base the bear market off of if and when it exceeds 2951.00 ?

I would think that the resistance is a little lower than that like 2800 to 2900.

 

[Buy1Sell2]

The fact that we had a good jobs report that beat expectations and that the fed does not appear poised to raise rates and the China Deal is already priced in yet we have milling around today is telling in my view.

 

[NQurious]

I believe we entered a bear market a month or so ago and this is a bear market rally that needs to be sold.

Except a bear market rally is supposed happen from a bear market low. This bear market has been all rally since you called it. You can see why some here find your characterization of the market less than accurate.

 

[Buy1Sell2]

I believe the high for the day is likely in at 10:56 AM but have been wrong before.

 

[destriero]

I believe the high for the day is likely in at 10:56 AM but have been wrong before.

lol NHs forthcoming.

 

[cowf]

I would think that the resistance is a little lower than that like 2800 to 2900.

I don't see resistance at 2951 but the concept that you present is part of the equation. I believe we entered a bear market a month or so ago and this is a bear market rally that needs to be sold. I may have sold it too early or used a stop that was too close. We'll see.

The fact that we had a good jobs report that beat expectations and that the fed does not appear poised to raise rates and the China Deal is already priced in yet we have milling around today is telling in my view.

Except a bear market rally is supposed happen from a bear market low. This bear market has been all rally since you called it. You can see why some here find your characterization of the market less than accurate.

The bear market ended around 2500.00, and confirmed itself LONG above 2600.00. I see and validate the 2800.00 and 2900.00 resistance as well, but due to the uptrend, I am confident price will violate it.

And in regards to jobs :

FOR JOBS...Where are we? Where will we be? Is there an immediate danger of inflation? Are we operating at or near peak capacity?

OBSERVATION : Any forward jump in employment will have a modest effect, leading to steady growth, also due to that fact there seems to be no immediate danger in regards to inflation (though, commodity based, prices are rising), and retail and housing consumption have been steadily declining and I see even more declines coming. The growth is coming from investments...

ANTICIPATION : That being said, I see no forward rapid inflation just yet. There will be steady rate increases and a continuation of investments, mostly on the buy side. I was confident with this anticipation in year 2016, and still remain.

 

[vanzandt]

I don't see resistance at 2951 but the concept that you present is part of the equation. I believe we entered a bear market a month or so ago and this is a bear market rally that needs to be sold. I may have sold it too early or used a stop that was too close. We'll see.

Trump will fire the entire Fed Board of Governors, Larry Kudlow, Mnuchen, and Kellyanne Conway before he lets us go into a bear market in 2019.

 

[destriero]

Trump will fire the entire Fed Board of Governors, Larry Kudlow, Mnuchen, and Kellyanne Conway before he lets us go into a bear market in 2019.

The guy can't pronounce origin, so perhaps he'll simply flip the GDP chart upside down. Down is the new up.