Over the next 2 days, I look for a re-challenge and break through of the 2650 area. Normally on a payroll week, you might see the market tentative, however this Friday's numbers are meaningless and are expected to not reflect the full loss of payrolls. Bad news is already priced in here and we will head up. We did also have a trend change recently to the upside. Looking good.
ES Journal - 2019/2020
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I've been taking some longs in here but stopped for time being, this doesn't look like even close to as good setup as yesterday to be long. ES @ 2440ish I'll look long again. Otherwise if it goes up from here I'll miss it, I just don't see a good place for a stop and don't feel like drawing down min 40 ES points on first of the month. For me missing a move doesn't feel as bad as taking a trade that I am not confident on or not sure how I want to handle. Those feel terrible to be in.
EDIT: If I had more gains in my lifetime and have been a profitable trader for many years, I'd have no issues taking a long here. But that isn't the case, so not going to profit push here.
EDIT: If I had more gains in my lifetime and have been a profitable trader for many years, I'd have no issues taking a long here. But that isn't the case, so not going to profit push here.
It might. I have not been able to find another instance where the SPX gapped below the low of the prior 4 days's lows and filled the gap that day. But anything can happen. And I may have missed it if it did happen.
But if it does, I suspect it will be a first.
The US is 5-6 times the size (Edit: population-wise) of the UK and about 8 times the size of Spain...
Let me guess, all these dead people are crisis actors...
May take a long if we take out the HOD at 2694,50. Target would be the 2520 area. Should that happen - I still think that can mark the day HOD and we sell lower from there.
Not feeling bullish, but this market swings both ways...
Not feeling bullish, but this market swings both ways...
Agree 100 %. Just because you have a feeling or belief that price may go up or down does not mean you can or should just jump in on that. Being able to pass on bad or uncertain trades is so important.
We've got news in 2 minutes. May see the market pick up a direction after that.
Hi there, do you have a B plan in case today is a down day? (not as in doomsday, everything goes to hell in a basket, but rather as in we're down 3%, we stay negative all day and end up between 2 and 4% down).
Edit: where do you get that HOD 2694,50 from? (I don't see it, but then again my eyes aren't so good
)Go get'em!
You'll need to take a better look at the numbers and not just of death numbers and ventilator shortages or government shortcomings. The folks who died have had Wuhan-19 for 1,2 3 weeks and more. To those who know how to gauge peaks of pandemics, the evidence is unmistakable. The peak is well behind us. ---Infections can still occur of course and so can deaths. Stay safe.---
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