ES Journal - 2019/2020

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10 year still in panic mode.

AAPL still hovering around 300, TSLA mid-700's, NVDA 280, the list goes on and on. Even reasonable, ordinary "pullbacks" in the tech sector would hammer the QQQ/NQ/NDX. Meanwhile we've had an emergency 50 bp cut, assurances that more cuts to come. Remarkable idiocy really.
 
Laissez Faire said:
Stopped out for + 10,00 points of profit.

I still maintain a long bias for the day and think we're just seeing a deep pullback before the next leg up, but you never know in these markets, so not interested in going all the way back to B/E.
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I respect your analysis, one thing that I would point out, is that during the "bear phase" whether it's very short term or more extended, the typical structure are alternating large range days. So you get a panic low into the close one day, the drift up and close on the high the next, then the fade of that day afterwards.

I think the main reason why so many were sideswiped by the 2/20-2/27 massive downswing was because there were zero counter-trend moves. Even the Oct-Dec 2018 20+% correction, it was filled with them. Now, we are back into something similar to that price structure.
 
FriskyCat said:
I respect your analysis, one thing that I would point out, is that during the "bear phase" whether it's very short term or more extended, the typical structure are alternating large range days. So you get a panic low into the close one day, the drift up and close on the high the next, then the fade of that day afterwards.

I think the main reason why so many were sideswiped by the 2/20-2/27 massive downswing was because there were zero counter-trend moves. Even the Oct-Dec 2018 20+% correction, it was filled with them. Now, we are back into something similar to that price structure.
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Yeah - you're right.

I had a bearish bias this morning and thought the second leg down would go further.

With the strong movement up - I did however switch to a long bias for the day. I am however still bearish long term and think more downside is due, but like you say - with large range days going there.
 
upload_2020-3-5_12-27-3.png
 
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