ES Journal - 2019/2020

[Spooz Top 2]

In my patient game of observation....
Larger TF`s are extremely Bully... Spooz/ YM Daily`s looking at a 200 + Handle move north off Cup & Handle build out.

Weeklys showing an explosive 600 + Handle IHS on all Indicies.... The Larger TF `s typically trump the smaller TF`s with a magnetized move.

The Monthly is a different story ... requiring a potential blow off top!

Good Trading, Fellas!

-Steve

Proving to be quite correct ... 2 month look back! from 9/27

 

[Buy1Sell2]

----Happy Thanksgiving to you----

 

[speedo]

----Happy Thanksgiving to you----

And to you and all...

 

[Huyang]

And to you and all...

Happy Thanksgiving to All!

 

[speedo]

pretty good trading for a ten point range

 

[syswizard]

pretty good trading for a ten point range

3153.50 level (HOD) was turned-down 7 times before ES moved lower.

 

[Laissez Faire]

13/23 last trading days made ATHs. The market's pretty much going higher in a straight line these days.

 

[vanzandt]

13/23 last trading days made ATHs. The market's pretty much going higher in a straight line these days.

There's one problem.... where's the volume? We're at a ten year low in trading volume. Where's all that "sideline money"? What's it waiting for?
A ten year low. How can that be ignored? Its a suckers rally. I remain bearish.

 

[tiddlywinks]

There's one problem.... where's the volume? We're at a ten year low in trading volume. Where's all that "sideline money"? What's it waiting for?
A ten year low. How can that be ignored? Its a suckers rally. I remain bearish.

Wait a minute zandy.

I agree, sideline money is not participating with significant numbers. But that chart does not prove the point beyond being something "convenient".

Volume as a percent of capitalization? 1000 shares is 1000 shares, regardless of the price. But price is used to determine market cap! There is a HUGE, unrealistic assumption that engineered capitalization structure, which includes, buy-backs, splits, mergers, exercise, acquisitions, liquidations, privatizations, cancellations, secondaries, etc, has not occurred. We all know, THAT is false. Percent of float traded might be more accurate for proving the point. IDK. But then I am not in agreement with your bearishness at this time, beyond being short-lived, garden variety, trading opportunities.

Happy Thanksgiving!!

 

[vanzandt]

Wait a minute zandy.

I agree, sideline money is not participating with significant numbers. But that chart does not prove the point beyond being something "convenient".

Volume as a percent of capitalization? 1000 shares is 1000 shares, regardless of the price. But price is used to determine market cap! There is a HUGE, unrealistic assumption that engineered capitalization structure, which includes, buy-backs, splits, mergers, exercise, acquisitions, liquidations, privatizations, cancellations, secondaries, etc, has not occurred. We all know, THAT is false. Percent of float traded might be more accurate for proving the point. IDK. But then I am not in agreement with your bearishness at this time, beyond being short-lived, garden variety, trading opportunities.

Happy Thanksgiving!!

Yeah I was wondering about that too actually. I was looking for some kind of volume confirmation of this breakout and that's what popped up. That said, I still remain bearish going into the most contentious election year ever. We also have one month left on our talks with N. Korea supposedly. I expect he'll get ornery soon enough, unless China uses that as a negotiating tool to back Trump down some more, which is probably what's going on behind the scenes anyway.

Edit.... oops. Here ya go. https://elitetrader.com/et/threads/donald.315892/page-227#post-4970263