ES Journal - 2021/2022

Laissez Faire said:
Dip buyers took a hike. Black Tuesday today?
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"Lies, damned lies, and statistics."

Cash need trade above yesterday high for ES to get back to $4700.50. Sounds obvious when I type it. But it is meaningful. In my opinion. IF cash trades above the 1st day high of 2 day bar, THEN ES trades back above its 2 day bar open. Most of the time. Statistics. IF SPX doesn't, then of course, ES won't. This is using hours when stock market is open.

I am favoring @Buy1Sell2 saying. "Cash is king." Though if cash has that much power, she is probably the Queen haha.

Good luck everyone!
 
NumberZ said:
Does anyone here look at longer term data? Monthly charts?
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I do.

The biggest value for me re:statistics is to have an expectation of what typically happens. For example, people tend to get very bearish following a large day down, but when you look it up historically, it more often than not is a good buy the next day. That gives a sense of balance.

It's possible statistical data is less valuable when we're moving outside of what's normal, i.e., heightened volatility as we're seeing right now.

I'm trying a nimble short here (10), but will not give it more than 7 points or so of heat.
 
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