ES Journal - 2021/2022

[Relentless]

I like this...but not seeing the significance of 4226 as an inflection point. Maybe I am missing something, it won't be the first time.

Not sure I'd delegate it as an inflection point. Rather a measured 2nd leg down. PA likes to move in 2's. Nothing is perfect obviously - but you'd be amazed how often this happens essentially every day.

I expect lower levels than 4226 (3640-386) before its said and done though on other metrics.

 

[mervyn]

Clearly charts and TA don't work.

See ya at 4226.

I see no difference here since we are trading small ranges just under 50% line, at the moment I favor open long positions rather than shorts.

Market is no convinced yet because high energy price and high inflation will damage the outlook. I expect OPEC and/or US will say something about the oil price soon. Inflation is a bit difficult as long as Chinese tariffs are still in place, that contributes at least 1.5-2% of the inflation number.

 

[Big AAPL]

The only match I can see there is it seems to align with the close of the red candle in mid-July.

I also see this, and it seems like a nice area of support, although I am getting @4241.5, possibly because I am using 24 hr charts and am too lazy to change my parameters.

 

[Relentless]

...Market is no convinced yet because high energy price and high inflation will damage the outlook. I expect OPEC and/or US will say something about the oil price soon. Inflation is a bit difficult as long as Chinese tariffs are still in place, that contributes at least 1.5-2% of the inflation number...

Interesting. Unfortunately all completely irrelevant and useless for how I trade. My interest is solely charts - not macro financial developments.

 

[Big AAPL]

Interesting. Unfortunately all completely irrelevant and useless for how I trade. My interest is solely charts - not macro financial developments.

Agreed. And here is my chart that I am watching for ON and Rel...

 

[Laissez Faire]

Targeting 4390/4410 today as the bias is higher for today. A drop below 50 negates that scenario.

 

[Builder17]

it would seem a big move is coming

 

[virtusa]

Cyclists call this "sur place".

 

[vanzandt]

btfd
for tomorrow.
4343 atm, it might go lower tonight though.
edit:
4332... buy more!!!!!

 

[Laissez Faire]

That was a nice dump into the Close.

Closing below last week's mid-point and closing in on last week's Low. Gravity is definitely weighing down on the markets lately.