ES Journal - 2019/2020

FriskyCat · Apr 9, 2020

Laissez Faire said:
And what happened the last time we had worse than expected numbers...? We had a very strong day up.

As long as we open above 2750 and hold above 2750 during the first hour or so - I'm very bullish on the day and can easily see 2800/2850 from here.

Today's as good a day as any to make a 'statement'. For all we know - the FED themselves are buying stocks here.

See 3/26. Same pattern.

Builder17 · Apr 9, 2020

Do we think this week would have still happened this way if the Sunday night futures werent ramped up so much?

Noone123 · Apr 9, 2020

FriskyCat said:
See 3/26. Same pattern.

Even the pros are scratching their heads now. Very weird movement.

theapprentice · Apr 9, 2020

2810 next?

Laissez Faire · Apr 9, 2020

FriskyCat said:
See 3/26. Same pattern.

But the actual Open is much stronger.

I'll be looking to enter long today. Hopefully on a pullback.

Will switch bias on any sign of weakness, but main scenario from here is a strong run up today.

EDIT: The outlier/optimistic target on the day would be 2880. Powell speaks at 10:00. Let's see if the market likes what he's saying.

hafez50 · Apr 9, 2020

Mind boggling. Since Friday's lows 3 trading days ago were up 15%.

Noone123 · Apr 9, 2020

Only other explanation is asset re-allocation from fixed income to equities, but too much of a coincidence in timing the buy every Thursday.

Laissez Faire · Apr 9, 2020

Noone123 said:
Only other explanation is asset re-allocation from fixed income to equities, but too much of a coincidence in timing the buy every Thursday.

Central banks worldwide have been and continue forcing everyone into stocks as there's no yield anywhere else.

FriskyCat · Apr 9, 2020

Russell up 5.6% in less than an hour.

Following HYG, also up 6%

hafez50 · Apr 9, 2020

Well it looks very unlikely now that we'll see 2176 lows of 2 weeks ago. Shorts are fighting the fed who will monetize everything if need be . The only question is what are the consequences for printing $10 trillion? So far last 10 yrs there are none.I keep looking at the vix at 42. What does it know? Based on a 30% rally in stocks it should be back in the 20's max right now.