ES Journal - 2019/2020
- Thread starter Buy1Sell2
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BTW 2390-40 is expected for the AH session. For RTH tomorrow, I expect much lower...maybe 2275.
Even if we get further upside this week it's going to have a very difficult time holding.
In order for this move to continue up and hold you would need:
#1 To beat the technical probabilities (again really rare for up moves like this to sustain given how we came down and how long we've been down, momentum has been damaged quite a bit)
#2 You would need some kind of end or change in the corona virus
#3 You would likely need even further steps taken from the FED.
So, I am not saying it's impossible, but if you're looking for this to be some type of longer term bottom its better we pull back some and ease the overbought and than try for a second push up. Just moving up from here is only going to create a scenario that's even more difficult for a sustained up move.
Wouldn't mind hearing an alternative scenario if someone thinks it can move up from here and sustain itself for any amount of time. At any rate full disclose, I only intra-day trade it. I don't get married to one side.
In order for this move to continue up and hold you would need:
#1 To beat the technical probabilities (again really rare for up moves like this to sustain given how we came down and how long we've been down, momentum has been damaged quite a bit)
#2 You would need some kind of end or change in the corona virus
#3 You would likely need even further steps taken from the FED.
So, I am not saying it's impossible, but if you're looking for this to be some type of longer term bottom its better we pull back some and ease the overbought and than try for a second push up. Just moving up from here is only going to create a scenario that's even more difficult for a sustained up move.
Wouldn't mind hearing an alternative scenario if someone thinks it can move up from here and sustain itself for any amount of time. At any rate full disclose, I only intra-day trade it. I don't get married to one side.
May not get all the way there until Friday.
BTW 2390-40 is expected for the AH session. For RTH tomorrow, I expect much lower...maybe 2275.
First post was 6:30 PM, 30 minutes after the Sunday night Globex open. It was unseasonably cool, B1 was short, and a bottom was forming before our eyes ...
Whatever happened to that scoundrel Mbondy? Is he here but with a new nick? Is he sporting bottomless leather chaps in a Gay bar in Sydney? Has he stayed safe from China's gift to the world?
Whatever happened to that scoundrel Mbondy? Is he here but with a new nick? Is he sporting bottomless leather chaps in a Gay bar in Sydney? Has he stayed safe from China's gift to the world?
In fairness, we don't have much of an analogue for this move....I gave one chart view of S&P monthly, in earlier post....Impulse 2009-2018 with an expanding triangle or irregular flat since then...in this view, which seems unthinkable given the news, near the end of 2 year correction...
I don't know what it is, but Trump has something up his sleeve - this is only a gut feeling... edit. US has never had a scenario where the govt was controlling so much biz/or lack thereof...could it not be turned back on with the flick of a switch?? all but we actually know is how much control of the world GDP govt has now..can't you picture the meme - world in the shape of balls in a big hand...lol
I don't know what it is, but Trump has something up his sleeve - this is only a gut feeling... edit. US has never had a scenario where the govt was controlling so much biz/or lack thereof...could it not be turned back on with the flick of a switch?? all but we actually know is how much control of the world GDP govt has now..can't you picture the meme - world in the shape of balls in a big hand...lol
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This move north is looking and feeling like nothing more than a technical bounce via seller exhaustion... Newbies are in for a rude awakening...
Rude awakening on the short or long? I don't follow.
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