ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
I don't think anyone here has been too surprised regarding this move up, was the most probable outcome given the short covering setup.
We've hit all the minimal targets on both ES and NQ I was looking for the short covering to move us to. From here on out going to need actual real serious buying to move the market too much further up. Friday and Mondays action going to pretty important.
As far as a macro trend edge, don't currently have one. So, I am moving to more neutral and just taking trades long or short as they come, until early next week to see if anything is clearer.
We've hit all the minimal targets on both ES and NQ I was looking for the short covering to move us to. From here on out going to need actual real serious buying to move the market too much further up. Friday and Mondays action going to pretty important.
As far as a macro trend edge, don't currently have one. So, I am moving to more neutral and just taking trades long or short as they come, until early next week to see if anything is clearer.
I remain bearish until Q4, only the last four days the market shot up straight more than half percent each day like crazy. Next week is likely another 75 bps hike, all earnings from Goldman to Netflix are missed yoy but beat the expectations, whatever this expectation is. We may revisit bear market once more.
I am thinking that. The Fed must relent, or we will keep legging down.
Won't be long before they re-start QE, their mission is unsustainable otherwise IMO.
The sucky thing about this cycle? Wed July 27 will be big. But damned Jul 28 will be even bigger with the darn advance GDP number! Oy! Not a good time to try to swing long, so I am cautious, still being stuck in the MYM long from May's fed announcement.
Bah, I am suspect of that trend over the past month. Nope, not gonna' get us until the Fed gives us permission to break that downtrend!