ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
Ave. 99
Should have stuck with my original short conviction on that one. I took a sizeable (stop) loss on that Friday post-RTH drop. Fortunately, I had bought SPY 415 calls that I wasn't able to bail out of and they brought me back to basically break-even. I legged into spreads by selling the 417.5's, so I'm fairly neutral at the moment. I did grab a 425 SPY put (Friday exp) just to give me a little downside bias. Hope to close these out in the next day or two and get back to ES.
I hate being long options due to decay, but I seem to do a better job trading them than I do ES. This despite trading a small account where I'm limited by PDT rules.
AM.
Failure @ 14/16 on the Open sets up a pullback into yesterday's range, IMO. 4200/4190. If 14/16 holds - might see another trend day up.
Regardless, it seems like the weekly bull template is in play, so I would assume any weakness today or tomorrow would be bought until we're back up to ATHs.
Regardless, it seems like the weekly bull template is in play, so I would assume any weakness today or tomorrow would be bought until we're back up to ATHs.
I think we could have another corrective swing down (1-2days) , looking for that from the 4025 to 4030 level, after that looking for the bullish continuation to ATH
Pops are being sold far, but I still view this as a consolidation/pullback, so I don't think I have the conviction to short this.
Range bound.
Range bound.
I'm also looking for a slower rounded top
im leaning towards ATH's too. check out the inverted head and shoulders on the 30min
Seems like a nervous market. Nobody wants to show their hands. 
I'm anticipating a 4221/4222 print from here. Not sure what more.
Yesterday was a big day up. So might not get that much more today. Let's see.
I'm anticipating a 4221/4222 print from here. Not sure what more.
Yesterday was a big day up. So might not get that much more today. Let's see.