ES Journal - 2019/2020

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@maximumpossiblesuffering: really well structured and argumented post. Thanks for taking your time to write all that.

And @NQurious: I read (more studied than read actually) the entire 'why is the obvious...'-thread and feel like I understand what the obvious is.
What I don't understand is how it could possibly give you a target of 3300. Or was it just coincidence you mention both in the same post?
 
_eug_ said:
He says we will first see 3038 - 3096 before a correction to 2899
More...

Indeed, my appology, didn't read 2nd part of the post properly. Looks like what's written in his stars matched the other soothsayer.... matches my view too except mine goes beyond a 2,950 low... I'm heavely S&P Short, targeting 2,750 1st level and all the way to 2,500 as a probable bottom

Anything magical about the 5th August? (I'm not into astrology)
 
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“‘Tis writ in the sun, the moon, and the stars” means it is written in the price charts which may as well be the mysterious forces of the heavens for the lack of ability to read the damn things I see by the majority of ET’ers.

“This is exactly what most traders don't want to do, preferring instead to keep their
relationship with the market somewhat mysterious. This creates a real
psychological paradox for traders, because the only way to learn how to trade
effectively is ...”. Mark Douglas, The Disciplined Trader

In the end it is probability and statistics (math) applied to data that is produced by human actions influenced by human behavior and mass psychology. $SPX 2700’s to 3090’s minimum, then a pullback or consolidation, then to $SPX 3300 ... No matter what funnymentals someone wants to parade before us, there are just too many bullish forces at work here and they must exhaust themselves before we see another 500+point sell off ... imo, of course.
 
Overnight said:
P.S. This is a positive sign. https://www.marketwatch.com/story/c...-new-trade-talks-2019-07-28?mod=mw_latestnews
More...

:D
____________________________

Trump rips China as trade negotiations set to begin, says 'no signs' of agricultural purchases
Published an hour agoUpdated 12 min ago
Jeff Cox@JeffCoxCNBCcom
Key Points
  • Trump fires off a series of tweets Tuesday morning criticizing China's trade practices.
  • He accuses the country of not following through on promises to buy more U.S. agricultural products.
  • His statements come as a U.S. delegation is in Shanghai to resume stalled trade negotiations.
President Donald Trump ripped into China in a series of tweets Tuesday just as the two sides are set to resume stalled negotiations toward a much-anticipated trade agreement.

The president claimed that China is not buying more U.S. agricultural products as it promised to do and may be slow-walking the talks as it awaits the outcome of the 2020 presidential election.

"China is doing very badly, worst year in 27 - was supposed to start buying our agricultural product now - no signs that they are doing so. That is the problem with China, they just don't come through," Trump wrote.


The criticism comes as an entourage led by Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer are in Shanghai to meet with their Chinese counterparts. While U.S. officials have tamped down expectations for a major deal this week, there is hope that at least some progress can be made in the tit-for-tat tariff battle that began about a year and a half ago.
 
The only bearish headline I have seen is this, and imo, this is bearish on a bit longer term as Goldman's public communications are almost always wrong --- I would guess their private position is typically contrary to their public pronouncements, or becomes so soon after. Of course, the real bearishness if for next year ... this type of headline is meant to suck retail in over the coming months as the big money is nearly all-in long ...then while the dumb money holds through the 2020 "pullback" waiting for the "double digit gains" Goldman will be closing their shorts for ... a double digit gain.

Bearish Headline.JPG
 
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