Financials up 1.28% today
ES Journal - 2019/2020
- Thread starter Buy1Sell2
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Yes that plus when I look at price action on a large number of stocks, I see this constant price weakness near end of day but the following day on open there is this pump.
So the mornings start strong but late afternoons sell off.
Now I thought this being October plus election looming we would get high volatility but we are not seeing any major weakness lately like a week or two ago.
Today seems strong, possibly no sell off.
except yesterday
As of today - ES is up 2,97 % on the week and closed 1,25 points from the Week High.
Zooming out a bit - we're 149,50 points (4,16 %) from the ATH. It may seem incredible, but this is where we're at.
No weakness as of now. Odds favour the Week High coming in tomorrow. I'd say 3450 or more.
Should be interesting to see if we'll actually see any strong selling going into the election. As I mentioned - I think that's everyone's expectation by now. I'm starting to wonder if that ain't going to happen after all. It's anyone's guess at this point.
Zooming out a bit - we're 149,50 points (4,16 %) from the ATH. It may seem incredible, but this is where we're at.
No weakness as of now. Odds favour the Week High coming in tomorrow. I'd say 3450 or more.
Should be interesting to see if we'll actually see any strong selling going into the election. As I mentioned - I think that's everyone's expectation by now. I'm starting to wonder if that ain't going to happen after all. It's anyone's guess at this point.
The more people express "concern" about the election or doubt about this rally, the more convinced I am that we're going much higher.
Yeah. I've been smiling to myself everytime I see @Buy1Sell2 anticipate higher prices. Much, much higher.
And honestly I was thinking we'd see a sell in this zone myself, but as of now this looks pretty bullish. Election or not.
Its not looking good for Trump at all.
A Biden win means an increase in the capital gains tax, so I would think PM's would want to start taking profits off the table and enjoy an additional 6% return in a roundabout way.
Once again we had a btfd scenario this week.
Retail players have been lulled into this huge sense of complacency imo.
The next big sell-off, for whatever reason it may occur, I have a feeling is gonna be a huge bull trap.
The btfd crowd will all step in and the big money will sell into the strength.
Then the bids will dry up and down we go.
When and if we get a stimulus package, that will be the day to go all in short.
I feel pretty confident we'll see 3100 before the end of the year.
-vz
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