ES Journal - 2019/2020
- Thread starter Buy1Sell2
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It's a matter of time that the Dow and S&P will drag these tech stocks down.
l 2765 stp 57
I am less bullish today, than previous days doesn't seem like long algo's are as active. Taking a few more shorts than normal today. Will just be more cautious to long side as I don't want to get caught in a long if they do decide to pull it back a little today and I don't have a great read here saying it's a great probability long.
5 min & 15 min sell signals coming to fruition off a double confirm...
Its not a stock though Izzy.
I mean in a way yes, if it holds this range one could say its "consolidating" for an up move. But that is merely a manifestation of demand and working through the inventory, that and global demand as economies recover and industry spools up.
So yes $20 is probably a decent level but we'll see, it may go lower as again, supply/demand will be the ultimate arbiter. Any near term move in either direction is merely "headline driven" noise. If the headlines are real, then yes it will move to a new level. But as it stands Izzy, $20 to $30 is a 50% move. The emotion has worked its way out of the trade... its settling down. Until economies start hitting on a few more cylinders, its gonna be a slow climb back up. Sure you'll get up 7% one day/week move, but the next day/week it'll be down 7%. As a trader you can time it based off your T/A... but CL is not going to make a massive move to the upside and hold it anytime soon. Obviously a major geopolitical event could change that.
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ss 2772
stp 82
stp 82
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