ES Journal - 2019/2020

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Laissez Faire said:
I use charts all the time even if I don't post them here always. That said, there's a lot to learn about a market from statistics and numbers that are not always easily found on a chart.

Anyway, looking forward to your chart.
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Well, don't expect eye-opener. If it were that good, I wouldn't share with ya. :D

First consider this chart. #1 was used to come up with the reversal point. #2 is a multi-year trendline that was breached like a hot knife over a butter. Absolutely no resistance by the bulls.

upload_2020-3-21_17-19-50-png.222710


So it makes sense to fall down to the top of the first line (#1 above and below). I would think there would be a bounce at that point. The important thing is by how much. If that fails to hold, then I anticipate #2, which is the 2017 high that preceded the 2008 crash, which is like 53% from the ATH. The previous 2 bear markets also dropped, on average, 50%. Something to keep in mind.

upload_2020-3-22_16-44-34.png
 
vanzandt said:
There is no "V" coming. The best we can hope for is an "L".
When forward estimates on the S&P hit 14.8, after the dust has settled, then we can call abottom.
As I said 3 weeks ago, way before B1 mind you, I expect short selling to be heavily curtailed very soon.
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But Vanz, I thought you were a permabull just a few weeks ago? :D
 
The entire fallacy with "I'll buy it when it drops 30-40-50%" is that the economy implodes at a similar pace. This forum is filled with bulls who seem to ignore the latter.
 
NQurious said:
Who you screaming at?
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Its fucking annoying.
Of course we're gonna get a bounce. And fucking bozo-head will act like he's the greatest trader of all time. But guess what B1... you can make that call and get some respect when we get above 3250... where you were calling things "a massive buy". Did you forget about that already Chuckles?

Here's the deal however... this shit is about so much more than our markets. Its about our way of life and its about our country. Its about our freedoms as individuals.
Just watch guys... watch what happens.
 
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