ES Journal - 2019/2020
- Thread starter Buy1Sell2
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As much as I do believe this, because once the virus scare goes away, the true extent of the damage to the economy will be apparent, I do think that when its obvious that the US dollar doesn't mean as much anymore, people will start moving to assets. This may mean that the stock market will start shooting higher. Not because stocks are so great, but simply as a means to maintain purchasing power. It happened in Venezuela and I'm sure a few other countries.
Not saying the US dollar will enter that hyper inflation kind of spiral, but seriously, when the extent of all this money printing has a chance to settle in, inflation will hit, and that will naturally lift up the market, but for all the wrong reasons.
Zimbabwe and Venezuela were two most prominent cases where the stock market shot up to the moon. Sadly, even with such a astronomical rise, the entire portfolio was not large enough to buy you a loaf of bread. But I highly doubt such a comedy would happen in the US. What I foresee instead is a stagnation rather than hyperflation, which can linger on for years as with Japan after the asset bubble popped.
Today, Tuesday, is the last trading day in March. This may influence today's session.
So far, we're trending slowly higher in the overnight session.
If we open gap up in RTH - I'm biased to the upside and think there's a good chance we'll see another good day up.
Within that scenario - I'm anticipating 2700 as an upside target for the day.
Big picture - still a bear.
So far, we're trending slowly higher in the overnight session.
If we open gap up in RTH - I'm biased to the upside and think there's a good chance we'll see another good day up.
Within that scenario - I'm anticipating 2700 as an upside target for the day.
Big picture - still a bear.
I don't tend to have a bias of anything over an hour or 2 lol.
So interesting how online sentiment has shifted, though. I can't seem to find anyone with even a mildly bearish outlook on my twitter feed lol. Every man and his dog figures that we had that corona blip, and the damage has been done but now it's on to new market highs.
I don't have a clue what it's gonna do, but it would sure shock a lot of people if we went anywhere even close to them recent lows! I think even a big down day would surprise people lol
We'll see, I guess
So interesting how online sentiment has shifted, though. I can't seem to find anyone with even a mildly bearish outlook on my twitter feed lol. Every man and his dog figures that we had that corona blip, and the damage has been done but now it's on to new market highs.
I don't have a clue what it's gonna do, but it would sure shock a lot of people if we went anywhere even close to them recent lows! I think even a big down day would surprise people lol
We'll see, I guess
The slope of the rallies and declines obviously plays a huge part. Some canned sentiment indicator went from most optimistic to most pessimistic in about 2-3 weeks in late Feb/early Mar.
Years, decades... whose counting
L 2632
On my spreadbet account so was considering holding it medium term and adding too it to get a better average if need be, but actually gonna put stop at 2612 I think. Not quite enough conviction for a swing trade. Even at small stakes
On my spreadbet account so was considering holding it medium term and adding too it to get a better average if need be, but actually gonna put stop at 2612 I think. Not quite enough conviction for a swing trade. Even at small stakes
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Spooz, he's got me blocked as well...presumably for hypothesizing that he is a wealthy/worldy business man..!
Very sad actually... I figured he would have a bit more resolve & class than behaving
so small & petty... This is the icing on the cake after losing his credibility... shows me a lot! Very Disappointing.....
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