ES Journal - 2021/2022

[Laissez Faire]

Same recipe as last week. Looking for a rejection / confirmation of last week's range and paying some attention to those open gaps if we trade higher.

Could be we'll see some consolidation before the next leg lower (which I think is coming).

Would be odd if we bottom out here and don't take another plunge at the June lows, right? Best to not marry any view, though.

SPX Weekly

 

[Wide Tailz]

It looks ripe for a bounce but the trend is down. No more buying dips for me!

 

[SunTrader]

Bear trends love traders who are waiting for the bounce.

Stay with the trend.

 

[wiesman02]

Bear trends love traders who are waiting for the bounce.

Stay with the trend.

well said

 

[mervyn]

All depends on next week few Fed officials talk. We may hit the 50% Covid low to Jan high.

 

[SunTrader]

Real tentative buying so far.

No, not me heck no. Just a comment.

 

[Concinnity]

Likely just clearing out some of the over aggressive shorts down there near June lows. Not really excited about long side either, but can certainly have some decent up days this week given the setup, so need to be aware of that regardless if it's likely to be short lived or not, need to trade what's in front of us.

 

[SunTrader]

NQ is pulling others along.

 

[FTDK]

Isn't trading awesome, in just 5 minutes i made more than working an entire month in my previous job.

Might go higher but i am cautious since the downtrend is strong on the bigger timeframes.

 

[Buy1Sell2]

I believe we will be down to test that June low this week and then we'll see what plays out. I suspect that low will prove to be a new ceiling on the market in due time.----There's money to be made on both sides----pick your time frame.