ES Journal - 2019/2020

[vanzandt]

Don't risk going long today. You may get lucky and catch a dead cat bounce, but if you're up nicely for the day, just sit on your hands for now.

Hope you guys listened.

 

[NQurious]

Trump ... is now acting like a dictator.

Now? You think he is only now acting like a dictator? He is the American Idiot Green Day foresaw almost 20 years ago (they thought it was George W. buy Dubya and Obama were merely the paving stones upon which King Donald would assume the throne).

 

[tenny1886]

Hope you guys listened.

i dont know if i should cry or laugh, i had 29.00 as target after deliberate consultation but i had to respect my support line running from past week, when the alert sounded. i did bag quite a few points but ...... question lingers he he

 

[dangkevin]

Look like we have a long bearish candle every seven days for last 3 weeks now.

 

[tenny1886]

It seems like trump might not be doing anything before market end. It more likely to be more sell off before market close than short covering.

thats why i am oblivious to news , charts tell you all the story and news comes later may be some catastrophic news would be different.

 

[tenny1886]

i genuinely hope it is not a dead cat bounce right now another line drawn today @60.75 lets see what it is about. as a long it will be scary for me unless momentum changes. Vix wants to go up, so could see more down side, if news does not change that during the weekend.

 

[syswizard]

Hope you guys listened.

There was indeed a dead-cat bounce from ES 2834 to 2860 at the end of the day.

 

[Laissez Faire]

Fantastic down day. Thank you, Trump!

The big picture is that we're rangebound and consolidating after an initial 209 point (- 6,9 %) drop top to bottom. What we're seeing here is no different from last October, really.

I think we'll trade lower from here. < 2820 by end of this week or early next week.

The October script is still in play and assuming similar volatility as we've seen in the last weeks it's likely that we'll print 2730 some time during next week.

The last 3 corrections down of >10 % have been of the magnitude - 20,44 %, - 11,83 % and - 14,22 %.

Currently, we're down - 6,9 % top to bottom (5th of August).

If history is an indicator, which I believe it is, we're certainly due for more down side, so I'm maintaining a bearish bias here.

As a minimum, we should tag 2747,75. That's 9,30 % down.

 

[tenny1886]

very nice day over all, though it was in and out but losses were a point or two and winners were quite handsome on the other hand. did get most of the moves when ever the signals aligned. over all not a stressful day and that is what counts for me. good weekend.

 

[Laissez Faire]

A 93,75 point RTH range makes this the largest range so far in 2019. That's a whopping 24,00 points greater than the 2nd biggest range this year.

Will we see a greater range by year end?

Last year we had a few 100 + days.