ES Journal - 2021/2022

Overnight said:
Not yet. MMs have goldfish memory. When the Fed implements the rate hike in March, they will panic, forgetting they already priced in the rate hike. And then there are the meeting minutes next week. Watch out, hubba hubba!
More...
ITA (war etf) keeps climbing.
Apparently no one bought the Macron/Putin glasnost.
 
This rally may not be real in a bigger picture sense -- I still don't have that sorted out. But coming off the fairly extreme bearish sentiment, improving momentum and crypto showing a "risk-on" environment, I think the path of least resistance, and the "pain trade" for now is up.


vanzandt said:
q's $359
spy $450

Hmmmm. They might make a liar out of me yet.
Are we entering the "markets only go up" mode again?

Pretty soon we'll see ol' @Rickshaw Man come back and start posting how easy it is it again.

Fwiw... I'm not buying it. Earnings aren't coming in strong enough. The vix should have fell more today if this rally was real. At least a drop below 20.
All my signals pointed down when I wrote that.
But as it looks atm... we're going back up.

Edit: cool new avatar Spooz.
More...
 
We don't always get set-ups this pretty but this custom momentum paint bar really helped me see that the last few days were just a consolidation for the next wave up. I still don't know if we're back to full-on bull mode but have bullish bias for now. We could just be retracing part of the decline. Who knows? Gotta stay flexible.

upload_2022-2-9_7-17-41.png
 
Laissez Faire said:
At this point one can only hope someone does something stupid.

Or if you're already long: kick back and wait to collect. :cool:
More...


lol I hate overnight rallies... just mentioned last night to some people I thought they were going to phone in one, half way joking.

Just going to be patient for a setup, since I already know days like this is where I typically perform the weakest.
 
I will say while market is bullish and looks decent. It still isn't in it's strongest form. Still possibility for some 50-70 point pull backs in the NQ if not more. Not saying it's highly likely, just saying market isn't in a mode where generally you can just buy up here without much worry(there are some days like that), particularly not if you're intra-day trading and don't have a position from lower, it can be complex.
 
Concinnity said:
lol I hate overnight rallies... just mentioned last night to some people I thought they were going to phone in one, half way joking.

Just going to be patient for a setup, since I already know days like this is where I typically perform the weakest.
More...

You should never "hate" anything about the market. Be friends with it. I get your point, though. :)

This Wednesday is currently set to open with a larger gap up ~ + 1,0 % with the prior day being positive, too.

Out of the last 10 times that happened, only one day was a "Down Day", but still positive on the day. The other days saw new highs in RTH being what I call an "Up Day".

Using this information to my advantage, I'll be looking to enter long. We may or may not get an initial pullback.

Initial target above is ES 4577.
 
You must log in or register to reply here.
Back
Top