I would not be long here. I did not reach the bottom yet in my charts.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
I would not be long here. I did not reach the bottom yet in my charts.
Thanks for the heads up. And I agree. Got on the wrong side of the market this afternoon. Took a small loss on that pop towards 67.
Dip buyers showed up - again. 
Not the easiest trading environment at the moment as even a normal pullback is expected after this great run up - making it harder to hold long. On the other hand - seasonality is strong for July, so that's a good argument for the long side.
I'm holding long from overnight, but for the reasons outlined, I'm not greatly confident in holding right now. 4380 for a double top? Slow grind all the way to 4400 today or by end of week? Or a sweet drop to 4300?
If a sell-off should materialize from ATHs, I have a hunch it'll wait until end of month or August, but admittedly not more than a hunch.
Not the easiest trading environment at the moment as even a normal pullback is expected after this great run up - making it harder to hold long. On the other hand - seasonality is strong for July, so that's a good argument for the long side.
I'm holding long from overnight, but for the reasons outlined, I'm not greatly confident in holding right now. 4380 for a double top? Slow grind all the way to 4400 today or by end of week? Or a sweet drop to 4300?
If a sell-off should materialize from ATHs, I have a hunch it'll wait until end of month or August, but admittedly not more than a hunch.
Hotter PPI, stocks soar higher. Nothing matters, higher and higher.
Brrr goes the money printer
Treasury yields are lower today but the backdrop for reflation trades is improving.
Senate Democrats agreed to a $3.5 trillion infrastructure deal that will be passed through reconciliation. Reports earlier also said the nearly $600b bipartisan deal was progressing with about half of the remaining outstanding issues resolved.
Treasury yields are lower today but the backdrop for reflation trades is improving.
Senate Democrats agreed to a $3.5 trillion infrastructure deal that will be passed through reconciliation. Reports earlier also said the nearly $600b bipartisan deal was progressing with about half of the remaining outstanding issues resolved.
Once in a while a guy gets lucky. I wonder how high they can run this today.
4385 and even 4400 looks very much possible in RTH today unless this should reverse prior to the Open. Not worth risking that - but I would guess any drop from here to be a good buy for today.
Powell is testifying tonight.
4385 and even 4400 looks very much possible in RTH today unless this should reverse prior to the Open. Not worth risking that - but I would guess any drop from here to be a good buy for today.
Powell is testifying tonight.