ES Journal - 2019/2020

[wiesman02]

Would love to see a quick stop run in NQ before day is over above 9700. I just don't see an area worth entering

 

[wiesman02]

1/2 off at 16.50. stop rest @ b/e. Looking for 20

out at 20. +8.75

 

[Laissez Faire]

I'm betting on a variation of 2 or 3.

If we can make one final push up to 3100/3130 or so before rolling over, 2860 might be pushing it this week. So maybe not before next week.

View attachment 229336

Well, here we are at 3120.

I think we're closing in on a major swing high here. We might be there already or we might have 10-20 points left.

I'm short @ 3120 with a stop @ 3140 for a swing trade.

 

[SPYgrain]

NQ 60 points from ATH

 

[Laissez Faire]

NQ 60 points from ATH

Crazy.

NDX was probably overvalued prior to the crash - yet here we are. God bless the FED and Donald Trump.

 

[Relentless]

It will be interesting for sure.

You have an incoming confluence of:
1) NQ being back at its highs (who knows what happens there)
2) Payroll #'s that have been dramatically revised down. (Friday release)
3) FOMC Meeting next week Tues/Weds

Could get pretty volatile going into the end of next week. Or not... maybe it will just keep grinding its ruthless tail higher.

One thing is for sure though - this show is rigged. It's going wherever "they" want it to go.

 

[Laissez Faire]

I just read a comment from an older guy (not a trader) who sold all his stocks last fall and currently have a huge excess of cash he does not know where to put. Basically, there's no yield to be found anywhere but the stock market and he's afraid to put it there now as he simply can't understand this rally.

The FED and central banks worldwide are basically forcing everyone into the stock market and have pretty much said they are willing to do whatever it takes to support the markets including buying equities/ETFs.

That's where we're at.

Makes you wonder if we're ever going to see normal rates in this lifetime.

 

[Relentless]

I just read a comment from an older guy (not a trader) who sold all his stocks last fall and currently have a huge excess of cash he does not know where to put. Basically, there's no yield to be found anywhere but the stock market and he's afraid to put it there now as he simply can't understand this rally.

The FED and central banks worldwide are basically forcing everyone into the stock market and have pretty much said they are willing to do whatever it takes to support the markets including buying equities/ETFs.

That's where we're at.

Makes you wonder if we're ever going to see normal rates in this lifetime.

There's no doubt in my mind that an insane parabolic explosion in the major indexes is coming down the road concocted of mass stimulus, FOMO, short squeeze from hell, etc.

Just didn't think it was going to be quite this fast. Thought it would come off the backside of this mess. Maybe that ship sailed earlier than expected...

Guess we'll find out in due time.

 

[theapprentice]

put my profit target in at 3119 and walking away for the day

target hit
+30

 

[Laissez Faire]

The gap from the 4th of March @ 3127 just got filled.