ES Journal - 2019/2020

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Relentless said:
As an aside - @NQurious - I see we are hovering around the 61.8 retrace from ATH to the lows. Is seeing the market price action move through the level enough for you to be looking at the possible move back to ATH or are you looking for a specific close of some type?
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Haven't seen anything bearish yet. Those are my adjusted cash index levels ... I posted on the weekend that I expect SPX to trade inot that range by May Opex and I suspected I missed the pullback, and we see I have. I expect a retrace to start soon, within the next days to a couple or three weeks. Now that we are above that 2934, and if we close above it today and hold it tomorrow, then there is 100+ points of free air above immediately available and if it takes its time, a couple of hundred. That's my story and I'm sticking to it. I did screw up badly last week when one I used one wrong data point that led me to expect a further pullback. The pullback we got was the one I should have expected.

Right now, though, nothing to be bearish about. NFLX looks like it is ready for a swing to test its recent high.

cash me in cash me out.PNG
 
NQurious said:
Haven't seen anything bearish yet. Those are my adjusted cash index levels ... I posted on the weekend that I expect SPX to trade inot that range by May Opex and I suspected I missed the pullback, and we see I have. I expect a retrace to start soon, within the next days to a couple or three weeks. Now that we are above that 2934, and if we close above it today and hold it tomorrow, then there is 100+ points of free air above immediately available and if it takes its time, a couple of hundred. That's my story and I'm sticking to it. I did screw up badly last week when one I used one wrong data point that led me to expect a further pullback. The pullback we got was the one I should have expected.

Right now, though, nothing to be bearish about. NFLX looks like it is ready for a swing to test its recent high.

View attachment 226471
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Cool thanks man.
 
game said:
PA wise I am not able to understand your short. Price is squeezing against the level with prior shorts likely to bail on stop outs. If you don't mind giving the general rationale. Otherwise no prob as well. Appreciate all your posts.
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Its a fundamental play going into earnings. I've been waiting for it to have a good day.
I was hoping it would make it north of $70, that's why I didn't take a complete position.
Its a hold for now. Earnings are 5/6.

https://elitetrader.com/et/threads/overlooked-short-play.343745/page-2#post-5080488
 
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