ES Journal - 2019/2020

speedo · Mar 30, 2020

NQurious said:
I tend toward RTH only because I tend to feel the cash is most important. But last night's pullback in the context of the futures daily PA (buying at the 38.2) I ran both globex and RTH.

I posted this last night, and given that overnight we had higher highs and higher lows, I felt the Globes swing would govern.

Blue fibs are the ATH high to bear mkt low, and the green fibs are the bear mkt low to last week's high.

View attachment 223487

As you know, consolidations are not trading environment for 930's but starting to view them as staging bases within MM structure. Interesting shift of perspective.

NQurious · Mar 30, 2020

syswizard said:
Crude oil finding support right under $20.

You buying a lot of gas lately?

We have three vehicles and one of them is a big a$$ Suburban. We usually empty and fill each tank each week. I haven't bought a drop of gas since before 3/13. I can't be the only one.

NQurious · Mar 30, 2020

speedo said:
As you know, consolidations are not trading environment for 930's but starting to view them as staging bases within MM structure. Interesting shift of perspective.

The 9/30's have been very good and giving me places to add or to get into a move I missed. They work very well together.

speedo · Mar 30, 2020

NQurious said:
The 9/30's have been very good and giving me places to add or to get into a move I missed. They work very well together.

Yes, I see that...anxious to incorporate the MM's...appreciate the insight.

NQurious · Mar 30, 2020

NQurious said:
I haven't bought a drop of gas since before 3/13.

I did drop almost $500 on groceries this morning between Walmart and one other local grocer. Won't need to make another trip to the store for a couple of weeks.

Hooti · Mar 30, 2020

NQurious said:
You buying a lot of gas lately?

We have three vehicles and one of them is a big a$$ Suburban. We usually empty and fill each tank each week. I haven't bought a drop of gas since before 3/13. I can't be the only one.

Same here. Thinking of going to autozone to get the stuff you put in your tank to keep the gas fresh when you know you are going to let it set for a month or more.

speedo · Mar 30, 2020

When we stop learning, we've stopped living.

Laissez Faire · Mar 30, 2020

Very strong and well behaved market today. NQ and ES nicely in sync, although NQ is in the lead.

hafez50 · Mar 30, 2020

A lot of traders got faked out with Friday's drop thinking we were going to retest the lows . Looks like a move to 2650-2700 is possible here. 2700 is almost 25% up in little over a week. Take away the fluff move over 3k and were down squat .

vanzandt · Mar 30, 2020

NQurious said:
Above 2930 it is not longer a bear market rally, imo.

2743 up to 2811 would be normal for a second leg up.

2930 is the stretch - I should say 2930 +/- as emotions have been running high and over shoots and front runs alike abound.

Yeah 2930 looks about right. I wish I had a better chart to use. You gotta go way back, 10 year charts aren't gonna get it. I think the stimulus at this point with all things considered, the Fed etc... is probably at least $4.5T. And the thing is, at this point its triage on a gaping wound. It will have no effect whatsoever on the long term convalescence that will inevitably be required.
Water always seeks its level.

A little Blues for ya'll. A lot of the legends covered this song, and though he didn't write it, no one did it like Freddie. Cat was bad-ass. Died too young.