ES Journal - 2019/2020

[Overnight]

...

There's plenty of economic numbers coming out this week, end of month on Wednesday, GDP, FOMC talks, etc., so it will probably be another volatile week for sure.

It is going to be volatile through X-Mas, that much is certain, when Trump refuses to leave the WH if he loses the election.

And if Biden wins the election after the Trump-contestation debacle, even MORE volatility, because the market will absolutely flip out on the capital gains tax increases.

 

[Cessna06P]

s94

 

[Cessna06P]

out at 96 errrrrrr

 

[Cessna06P]

try again s 93 out at 96.75 that s it until RTH

 

[formikatrading]

i have been reading the market with some of the others here - establishing long index positions (futures and ETFs) on Thursday and Friday. Thursday ended 4 consecutive days of bearish seasonality. Technically, the support levels made sense and there still is a lot of skepticism about this market which I like to see. If we're wrong, we'll have a pretty good idea based on those recent levels. I have been around long enough not to get too attached to being right but instead try to be flexible and adjust.

We are trading right now at the exact spot that the market opened on the gap down day 2/24/2020. The gap has now been filled from below and from above and I believe there is huge support here.

 

[Laissez Faire]

It is going to be volatile through X-Mas, that much is certain, when Trump refuses to leave the WH if he loses the election.

And if Biden wins the election after the Trump-contestation debacle, even MORE volatility, because the market will absolutely flip out on the capital gains tax increases.

Agreed.

 

[BeautifulStranger]

Other than the shorts, who is going to pay the overnight markup during RTH? As it is, I’m tempting to short right here, right now. I see very little correlation on risk assets on this move. Maybe I’ll short ES on the next run to session highs.

Edit: Short at 3323.00 for a scalp. Risk 5 to make 5.

 

[Laissez Faire]

Potential bull flag on the daily chart.

Not a prediction.

 

[formikatrading]

Easier for me to comment since I'm already long but as of now, I'm treating this as a decent bottom and giving this room to move higher. Looks like completion of A-B-C.

 

[formikatrading]