ES Journal - 2021/2022

Buy1Sell2 said:
I love the steady gradual beat down like we had today when I'm short. I didn't like how quickly the last 30 minutes dropped but I'll deal with it. Staying short.
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Why exactly? you want like as many buyers in the setup as possible for when the real rug pull happens? Or different reasoning?

You still targeting 4265? I am looking at 4410 ES monthly support personally. Think good probability we eventually go lower than that, but so far both NQ and RTY have had some decent bounces off their monthly support. So, I'd be looking for ES to give the same thing.
 
Concinnity said:
Why exactly? you want like as many buyers in the setup as possible for when the real rug pull happens? Or different reasoning?

You still targeting 4265? I am looking at 4410 ES monthly support personally. Think good probability we eventually go lower than that, but so far both NQ and RTY have had some decent bounces off their monthly support. So, I'd be looking for ES to give the same thing.
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4265 would be a minimum target. ---I don't like quick moves down because there generally is no long term trend quality to them and buyers step in quickly. Steady downmoves are more likely to have substance and longevity.
 
Buy1Sell2 said:
4265 would be a minimum target. ---I don't like quick moves down because there generally is no long term trend quality to them and buyers step in quickly. Steady downmoves are more likely to have substance and longevity.
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My macro / long term view based on a monthly chart is:

ES 3105-3262 Would be a standard pullback on ES based on monthly chart, if I were to treat it just like a smaller time frame. 8613-9222.25 For NQ and 1584-1690 For RTY

I know a lot of people here are mainly day trading myself included, so I just take it day by day , but honestly the way NQ Daily and RTY Weekly are setup we are starting the building blocks to set up a move to those below levels and given current readings would not be surprised at all if we move there over the next couple of months.
 
Buy1Sell2 said:
4265 would be a minimum target. ---I don't like quick moves down because there generally is no long term trend quality to them and buyers step in quickly. Steady downmoves are more likely to have substance and longevity.
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Sounds a bit like “sell the leaper, buy the creeper “
When looking at a weekly chart - weekly range, prior weekly lows - the indexes are in the vicinity of a temporary bounce I would think
 
vanzandt said:
When I wrote the above, I had searched multiple years to find a finish similar to the last several months of 2021. I wanted to see a year end that was constantly making new highs right thru the end of December, and then how it transitioned into January.
Like our end to 2021.

Pull up a daily chart of QQQ for the timeframe Oct 1, 2015 to Jan 30, 2016
Look familiar up till today?
That's the one I based this call on.
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"Mirror mirror on the wall"?
:wtf:

upload_2022-1-19_22-57-2.jpeg
 
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