ES Journal - 2021/2022

Buy1Sell2 · Dec 9, 2021

Buy1Sell2 said:
Headed back down from here.

Yep---Twas.

Laissez Faire · Dec 10, 2021

Buy1Sell2 said:
Yep---Twas.

Went back up, though.

Another range bound day is likely. Major upside target tagged. Minor downside target tagged.

Odds seems to favour some weakness, though. Meaning that a move down to 80 or even 70 shouldn't surprise anyone.

No strong opinion/read on my end, but the higher time frames look strong at the moment.

Best to press your luck when everything lines up, so taking an early weekend here.

Laissez Faire · Dec 10, 2021

Laissez Faire said:
So, we have two consecutive weeks making lower lows where the first week came from an all time high.

Following such a pattern - 60 % of the following weeks saw new lows, but not by much and 80 % of the sample actually closed net positive by week end.

Let's increase those odds by n = + 1.

Buy1Sell2 · Dec 10, 2021

Buy1Sell2 said:
Short 4713.75 Initial stop 4760.00

Out at 4689.00 for gain of 24.75 pts

mervyn · Dec 10, 2021

total 91 points today, both short and long.

Overnight · Dec 10, 2021

mervyn said:
total 91 points today, both short and long.

There's a song for that...

easymon1 · Dec 10, 2021

...can't knock the bottom out of it, so...

easymon1 said:
That post was a heads up on price sitting on a channel.

NumberZ · Dec 11, 2021

Zodiac4u said:
two days before its options expire, if the highs are taken out? the next level is 65, but the level to watch is 70,

Been studying on SPY and SPY options. Looks like SPY going to new highs, no?

mervyn · Dec 11, 2021

The market is likely to “crash” next week when JP opens his mouth again Wednesday. I am thinking 100 points swing. But I put a sell order for March contract at 4715, hope to get filled Sunday night. If not , I will sit on it.

Zodiac4u · Dec 12, 2021

NumberZ said:
Been studying on SPY and SPY options. Looks like SPY going to new highs, no?

Too be honest, I don't like too think that way, this steers us towards a bias, so I take each day as a new day and follow momentum up and down, ultimately one has to have points of interest like possible swing levels, at these levels I watch how the 1mn volume and bar closes are reacting to the level, eyes only and mentally neutral,