ES Journal - 2019/2020

[Rickshaw Man]

 

[vanzandt]

Ah yes.... I remember that song. Good song. Flooded the airways back in the day. It was always on it seemed.
Now.... who here wants to age themselves... anyone remember the TWA commercial that used it? Hell I bet anyone here that was alive does. The power of the jingle. I can still remember some of the words in that commercial lol. "If you take our hand we'll chase your dreams across the skyyyy... cause we can flyyyyy, we can flyyyyy". Then "up up and away a couple times" and it closes with "T- W- Aaaaaaaaaa" repeated about 3 or 4 times. I mean to this day when I hear that song (which is rare really) I think of TWA. And vice-versa.... when I hear mention of TWA on CNBC when they are talking old airlines or something... that song always pops in my head. Talk about great branding, Madison Ave scored with that one.

Moving on... looks like we made the right decision to not play last night. All the signs were there.
3090 was what I wrote way back when as the upside on my "serious" chart... its almost there obviously. We'll see how good the magic pencil is this time around. My 2692 as the correction sure seems a billion miles away huh? I said it had to go up first though. We'll see.

Edit... here ya go. YouTube's amazing.

 

[vanzandt]

“‘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.

NQcurious has been saying, or he was when he was around, that 3090 was the target too.
Way back this summer.
Friggin great call.

 

[speedo]

I hope NQ just got tired of ET nonsense and is OK....haven't heard from him since August.

 

[Buy1Sell2]

I'm staying long here in this fresh bull market. Looks like short term intraday floor being attempted at 3075. Long Long Long!

 

[vanzandt]

I hope NQ just got tired of ET nonsense and is OK....haven't heard from him since August.

Yeah I miss his humor here. He's a good dude. Good trader too.

 

[themickey]

 

[speedo]

View attachment 212658

Looks like from the Albuquerque New Mexico Balloon Festival.

 

[speedo]

Another no-range special.

 

[Laissez Faire]

NQcurious has been saying, or he was when he was around, that 3090 was the target too.
Way back this summer.
Friggin great call.

I also think he said 3090 before 2950 and we dropped 100 points below that.

Anyway. Here we are. And big picture - it was indeed a good call.

I wouldn't dream of making such long term calls in 'unchartered territory'. Short term (end of this week) I think we print 3100.

But what from here? How high can this go?

Will we print say 3100 and get another deep pullback? Or will we get the bear market I think NQurious called for back in the day?

Or can we keep going even higher on shallow pullbacks? I certainly hope not as that will probably mean a lower VIX and an environment less ideal for day trading.