ES Journal - 2021/2022

[Master Pu]

Is it me or is this all starting to feel a bit "oversold"? I get the sense you do Pu, which is why you keep trying long entries for swings.

This is a major interest area, if we fall through this area then Nasdaq IMO is in bear market territory.

 

[Overnight]

This is a major interest area, if we fall through this area then Nasdaq IMO is in bear market territory.

If you mean 20% drop, well, the thing is 1000 points down. 1400 points down would be the classic correction of 10%. You think it would trap door down to 20% if we fall past the 10% mark of ~12,600?

 

[Master Pu]

If you mean 20% drop, well, the thing is 1000 points down. 1400 points down would be the classic correction of 10%. You think it would trap door down to 20% if we fall past the 10% mark of ~12,600?

I shouldn't have typed bear trend, but substantial further decline.

This is an interesting chart of Wiltshire 5000 market cap $42.2T

It added around 27% pre-covid to now, and that's in a space of 1 year, that's mental & probably unrealistic to expect to keep on advancing. When world of finance realized that half of population not gonna die from COVID-19, phenomenal amounts of cash flooded equities market, hence the result IMO.

 

[Master Pu]

Hourly NQ looking lush

 

[Relentless]

here are some thoughts.

swing high rth is around 4232 5% down is 4020 area.

4000 is big round number

ES spent lots of time in 3950-3975 range trying to break thru resistance.

if we get more weakness here, those are levels ill be watching.

I think we definitely make a pit stop there for various technical reasons but ultimately land closer to the low / mid 3800's before seeing a rally that actually lasts more than a few days.

 

[chillibean]

L 4076

+30

 

[Zodiac4u]

50% is at 32.50 and .618 at 57.25, feels like another pause before a grind upwards,

 

[Master Pu]

Strong action in DAX today could be suggestive that this is also just a dip in US equities.

 

[chillibean]

L 4086

 

[chillibean]

L 4086

+14