ES Journal - 2019/2020

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Overnight said:
I'm remaining long for now. Who will break first? :)
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Buy1Sell2 said:
At this juncture, I see no reason to lift my outraday short position. Always subject to change but for now I remain short biased.
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The ES weekly is down, the daily is down, we are currently below today’s RTH open, and most correlated asset classes are showing growth concerns (At least), makes me believe we will test last weeks’s low at 2800. Correction: ES rallied hard As I typed this and is now above it’s RTH open. Perhaps we get a bit of a gap fill here. I will wait if or until ES goes below the open again by a threshold amount before initiating bearish strategies.
 
maximumpossiblesuffering said:
The ES weekly is down, the daily is down, we are currently below today’s RTH open, and most correlated asset classes are showing growth concerns (At least), makes me believe we will test last weeks’s low at 2800. Correction: ES rallied hard As I typed this and is now above it’s RTH open. Perhaps we get a bit of a gap fill here. I will wait if or until ES goes below the open again by a threshold amount before initiating bearish strategies.
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I am speaking strictly about outraday. Unless we rally big in the last few days of May, the monthly will also agree with bearish tone. As I have always said there is money to be made on both sides intraday.
 
In my view, an intraday stop on a short right here would have to be above 2900 or be 1 or ticks, so shorting here should be undertaken with extreme caution.
 
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I would think that we would test 2775 this week and perhaps begin carving out a ceiling between that and 2800 in this continuing bear market.
 
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