ES Journal - 2019/2020

[syswizard]

As my friend, @_eug_ , just informed me, the gap from June 28th has now been filled on the ES.

No date/time on the X-Axis......can't really see this effect.

 

[Utah]

No date/time on the X-Axis......can't really see this effect.

Sorry about that.

 

[Laissez Faire]

I'd have to say 58's counts among the 50's but I do not have a sell set up yet over the time frame I am looking at so the 3090's still stand. The next rally will decide. There was a short signal 7/29 that triggered 7/30 for a 3 to 5 day pullback and a price target of SPX 2963 ... yesterday's emotion took it there and a little lower. I think that the pullback low is in and we are now heading higher. Again, as I look at the $SPX, the next rally will be the tell ... new high or lower high? I've been long since 6/2-6/3 ... I have a sell limit at 3100 ESU ... we shall see.

EDIT 10:11 AM EDT: Actually what would really be nice from a short term swing perspective would be a slightly lower low with a close at or near the low today. I just don't think we get it and the low is more likely in than not. But I'd look at that scenario as a gift. But much lower? Then I have to start re-thinking things. 2900 - 2910 $SPX ought to contain any over reaction lower if demand is utterly withdrawn temporarily.

Was this the gift you were hoping for or did we exceed that?

Regardless, it seems like 2950 was hit before 3090.

 

[Laissez Faire]

This is starting to look a lot like Q4 2018.

There is an open gap at 2895 on ES. 2889,67 on SPX.

I'm eyeing that as a target on this leg down. This could happen as soon as tomorrow at this rate.

 

[NQurious]

This is starting to look a lot like Q4 2018.

I was expecting something like Q4 2018 but not until closer to the end of Q3 ... Trump got his rate cut so I think he thought that would inoculate the market from a post-tweet decline in his latest Trade War volley. You can't fix stupid, though. He bankrupted enough businesses ... he got bored and thought he'dgive a go at bankrupting the country for his coup de grace.

Anyhow, yes, I do like this close near the low though I would have preferred a close dead on the low $SPX. Might need one more day with a lower low and close on low, or lower low with a close in the upper half of the range - both would accomplish the same thing. But it did close low enough in its recent range to spark a rally, imo.

 

[Overnight]

This is how the 10% correction in NQ started at beginning with May. A tariff threat, and then implementation. That's why I dumped my YM long.

 

[Buy1Sell2]

Short 3013.25 Initial stop 3043.00

Limit buy order at 2950.25

Out today at 2950.25 for gain of 63 pts.(current pricing is 2946)

 

[FXtrader8911]

Guys, hats off to @Buy1Sell2.

indeed, some doing so with egg of face. Was I the only one that said his call wasn't wrong but did not go far enogh?

 

[vanzandt]

indeed, some doing so with egg of face. Was I the only one that said his call wasn't wrong but did not go far enogh?

Now considering this week has the potential to be one of the most volatile we've seen in awhile with major earnings on deck, an important summer jobs report, China trade talks kicking off again, Iran doing god knows what, and the most scrutinized FOMC decision of 2019... you might actually see 2950 at some point by Friday B1.

 

[Overnight]

Now considering this week has the potential to be one of the most volatile we've seen in awhile with major earnings on deck, an important summer jobs report, China trade talks kicking off again, Iran doing god knows what, and the most scrutinized FOMC decision of 2019... you might actually see 2950 at some point by Friday B1.

Ahh, we have yet to lick the taint of the NFP! That's tomorrow morning. A Tastytrade?