ES Journal - 2021/2022

[ElCubano]

I’ve always viewed Mondays as a brand new market for PA… not a continuation of the previous…. That said, I rarely, if at all, trade the morning Monday session along with a mindset of making Mondays strictly an observation day, unless there is an absolute cherry set up… Good traders are counter punchers that patiently wait for their opponent to Telegraph and leave themselves open to be scored upon…. Tuesday’s thru Friday mornings provide tremendous opportunity to score a KO… We have the luxury/ edge to observe without being exposed.. we only engage when we choose to engage … that alone is an edge & proper mindset!

+1 <----- how we did it before the like function on ET

 

[Concinnity]

Hmmm this doesn't look overly exciting to trade to the long side. Very weak move so far from a daily chart perspective, particularly on the NQ where we haven't even managed to hit my Daily EMA yet. ES has hit it.

Just going to see what it does at the open and than react.

 

[vanzandt]

Gooooooong!

Down 25
i still think we'll be up by morning.

Well, it did go green. Not as much as I thought.
Q's +.7% $2.30

 

[Concinnity]

ES Needs above 32 and should lift NQ too.

 

[vanzandt]

ES Needs above 32 and should lift NQ too.

NQ's leading the way.
Happy days are here again.

 

[Concinnity]

ES Needs above 32 and should lift NQ too.

ES above 32 Look at that NQ lift beautiful.

 

[Concinnity]

NQ's leading the way.
Happy days are here again.

Oh nq was leading ES? No clue tbh, just know ES above 32 really bullish for equity markets in general. Either way had setup for long, took it and made profit on NQ.

 

[c1rcle]

I was expecting way more sellers to come in around the 12 EMA

 

[Concinnity]

I was expecting way more sellers to come in around the 12 EMA

Well that morning pullback was pretty brutal and quick, likely stopped a lot of people out and baited shorts in. After we recovered that, was even more likely that it was the case, so I was only looking long and next benchmark was to see ES trading above 32 which it did and now some nice follow through.

 

[vanzandt]

These high flying tech stocks, the ones that have been beat down the most, they're all up nicely today.

This is where I dig out Spooz's Fibonacci lines to figure out how high they'll get near term.
Stocks like RBLX.

When I wrote this yesterday morning:

Up we go.
Naz at least.

Pretty easy call really, based on that finish Friday. The Q's went straight up from $342 to $352 in just over an hour. With all the bearish sentiment last week, there was no way that wasn't gonna continue today.

Time to break out the Fib lines on tech.