ES Journal - 2019/2020

[vanzandt]

A little short on the low but good directional call Zandy.

I always throw those in just to err on the conservative side in case anybody else acts on it. Ya never know. But I felt pretty good about it last night after what we saw Friday. It was bouncing back when Trump made his Tweet, then it tanked, but it came back pretty strong in the last hour or so and it didn't act like it was just short covering. Pretty solid climb, so I figured it would continue barring any news over the weekend.

 

[speedo]

Creep mode but Northbound none-the-less. I've need a couple of second entries so a modest morning so far.

 

[vanzandt]

Creep mode but Northbound none-the-less. I've need a couple of second entries so a modest morning so far.

Typical bear market topping action.

 

[speedo]

Typical bear market topping action.

 

[Rickshaw Man]

As we hit session highs cry's CNBC.

 

[Buy1Sell2]

Let's see how price reacts around 2978. This will provide us direction.

 

[Buy1Sell2]

Typical bear market topping action.

agreed.

 

[FriskyCat]

Typical bear market topping action.

Spike and distribute is typical bear market topping action. That said, this market changes its structure too frequently for the "bull or bear" label.

 

[FXtrader8911]

Does anyone notice ES just goes opposite to gold?
Whenever gold up, ES down, and gold down, ES up.

HaHa, Must be a newbie, just realized gold has been used as a hedge against stocks for 100 years... keep on learning, one day you'll get there.

 

[FXtrader8911]

The pattern went on for the past a few days.

It's been "going on" since before you were born, you muffin.

If you want a helpful observation, note spikes (or sell-off) that are a straight line on a 10 nin chart then reverse quickly. Within a short to medium time-frame, the high point (or low point) will be revisited... use this observation for setting entry and exit levels.... even works when the spike or sell-off is sizable due to a shock event.