ES Journal - 2019/2020

[trdes]

Medium term charts really oversold here and in a spot for a bounce, so hoping gives the market some lift, so can look to short into it and build a swing position short.

Hope not a good thing to rely on. Good chance of NQ 11289.50 and than after a possible bounce there NQ 11208.00 so similar view as you today.

There's 11289.50 or close enough for concept, not worried about exact ticks. Was never able to build a short swing position, only got some decent scalps in.

Still 11208.00 available, so will try to find another short. if we can get another decent move up.

 

[wave]

And what does that tell us about what to expect for today's session in ES?

That buyers will be stepping in soon. So start positioning yourself.

 

[vanzandt]

View attachment 241134



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

Morning all.

I see B1's XLF is below $24 now.
I also see "the Pandemic if ever there was one" is over I guess.
What an idiot.

 

[Laissez Faire]

That buyers will be stepping in soon. So start positioning yourself.

I'm still short, but cautious of buyers stepping in. Just don't see it yet.

I'm thinking 3300/3290 before I'll be salivating on a long.

 

[QTrader20]

See below chart with circles, 2nd down leg on DAILY SPY chart has just begun after testing center line and it's usually fast and furious which means today could be a TRENDING DAY. Vix in red color is spike huge which is not a good sign to short-term bulls. Counter-trend day trader should be careful.

 

[trdes]

There's 11289.50 or close enough for concept, not worried about exact ticks. Was never able to build a short swing position, only got some decent scalps in.

Still 11208.00 available, so will try to find another short. if we can get another decent move up.

Next up 11208.00 Just need to deal with this 11260-11280 accumulation zone, it's holding some what, but think it will fail since Daily chart is bearish.

 

[wave]

Time to start shopping at wholesale prices.

 

[Laissez Faire]

Counter-trend day trader should be careful.

Yeah. I have in the past been strongly bullish on some larger gaps down, but today is not one of them.

Just closed down my chart for today after a profitable 30 minutes.

I think 3300/3387 is a bounce zone, but it's definitely not a certainty. We have had far greater down days than this earlier this year, so I'd be careful with the concept of oversold in these special times.

 

[vanzandt]

See below chart with circles, 2nd down leg on DAILY SPY chart has just begun after testing center line and it's usually fast and furious which means today could be a TRENDING DAY. Vix in red color is spike huge which is not a good sign to short-term bulls. Counter-trend day trader should be careful.

View attachment 242602

You bought your kid an etch-a-sketch?
Or was all that done with a Spiro-Graph?
(do they still make those?)

 

[trdes]

Next up 11208.00 Just need to deal with this 11260-11280 accumulation zone, it's holding some what, but think it will fail since Daily chart is bearish.

Geez, still holding. Trying to do a runner on short here, so want it to break.