ES Journal - 2021/2022

[schizo]

close half, 3953

I am looking at 3940-3942 ish, that's pre Powell speech level.

So far, so good.

 

[mervyn]

Anyone see a reversal here? Might retrace back up to 80.

No one is buying bounce except algo, it is a big trend day.

 

[schizo]

Makes sense to me. Hence why I closed my shorts, but does seem to be drifting down still.

If we can knock down 3953, there's a chance for redemption for the battered bulls, at least for a while.

 

[Laissez Faire]

Dip buyers getting creamed. Again.

 

[Relentless]

Buying opportunity into EOY imho.

 

[mervyn]

now the bear has control, next one is probably 3912, when buyers start to panic covering the longs.

 

[SunTrader]

Where are all the perma-bulls lately?

 

[Laissez Faire]

Bidless market.

No need to be a hero until we see a trend reversal. I don't see this stopping until 3900 today.

Obviously, scratch that call on a trend reversal, but this is a trend day down for now and it's usually not profitable to try and capture a bottom on those.

 

[Laissez Faire]

Drawn in real time for @NoahA:

Market's moving higher right now, but for now it's just a weak ass pullback that is not likely to turn into a reversal.

 

[Laissez Faire]

Needs to breakout higher and/or put in a higher low on a pullback for any trend reversal consideration, IMO.

For now, it looks like a pullback to me.

3941 is last week's RTH low. Looking to see if we can trade back inside last week's range from here or not.