ES Journal - 2019/2020

[tenny1886]

Chop city up here at daily highs. There's no real down to this market today. Bulls back in control once again.

me thinks too atleast for this week, next week will see what will be the new saga.

 

[tenny1886]

any one know the reason for the drop around 10;30 besides running the stops and kicking a lot off the wagon ?? any news ??

 

[DarthSidious]

any one know the reason for the drop around 10;30 besides running the stops and kicking a lot off the wagon ?? any news ??

Just this AFAIK. Stocks upset ECB is in no hurry to buy them:

https://twitter.com/x/status/1167085462965633024

 

[tenny1886]

one move down to 2915 is due, not sure when will it happen, or was it invalidated by the strong upmove. Have to find out.

 

[syswizard]

any one know the reason for the drop around 10;30 besides running the stops and kicking a lot off the wagon ?? any news ??

Strictly technicals...and algos from Chicago. 10:48 AM reversal very impressive.

 

[tenny1886]

Strictly technicals...and algos from Chicago. 10:48 AM reversal very impressive.

could explain that a little, when you say technicals.

 

[DevBru]

Strictly technicals...and algos from Chicago. 10:48 AM reversal very impressive.

Really? So literally seconds after an ECB member makes a comment about QE the market reacts and EUR/USD (among other traded products) jumps up almost 35 pips, and it is strictly technicals? Sure thing ...

Some people will never understand that fundamentals move the market and TA only works if the fundamentals are within expectation. Any unexpected news event/outcome/comment/tweet and we see spikes like this and depending on the news even much worse than this. Nothing to do with technical analysis at all.

 

[Overnight]

any one know the reason for the drop around 10;30 besides running the stops and kicking a lot off the wagon ?? any news ??

My guess is it was the breaking headline that came out right after the drop. So the algos picked it up on some newsfeed before the major media outlets could finish writing about it?

https://www.foxnews.com/politics/do...-documenting-private-conversations-with-trump

 

[speedo]

You are in a position and two things can happen, news takes you in the direction of your trade or it hits your stop. In either case that's trading. Technical signals get you in, that's their role.

 

[tenny1886]

i think it is more inline with the algos getting on it. but the catalyst has to be some news, it cannot be random, Otherwise it wont make sense trying to spike or drop the price with such conviction.