ES Journal - 2021/2022

SammyJ said:
Correct but you must remember many people will go from $300 k to $0-$100k . Those people used to spend a lot of their money but now will pull back big . Why do you think we never had inflation in the 1990’s or even 2009- 2020? Wether Bezo’s worth $50 bil or $200 bill is meaningless . He never spends the incremental wealth so no increased demand . But put $1000-$20k in Joe six packs hand and he spends it all . Multiply that by 50 mil people . That’s instant demand that causes big inflation . It’s what we had from 2020 till now . The avg 401 k is like $180 k? Take that down to $50-$90 k and it causes fear and a defensive mode . It becomes a vicious look we’re spending drops .
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Good point. The super rich aren't spending anyway.
 
schizo said:
I love how these folks always regurgitate the obvious after the fact. I mean, who doesn't know that when the market tanked like today? C'mon guys, give me something that's actually practical.
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It is more speculation around what will happen in the future and the macro behind it rather than denying what happened today. I had the best trade day in months but still ended up closing my NQ shorts too early. I was sitting on my hands waiting for today.
 
schizo said:
Well, Powell raised the rates twice by 75 bp and they still pushed this market up. So you can't help wonder whether they artificially pushed it up just to sell it off. Who knows...
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It looked like a pump and dump to me too. Even today just before the open it pumped like crazy to give everyone a better shorting entry while the herd bought into it.
 
Buy1Sell2 said:
July was an inside bar and fit well into the negative monthly price action.
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B1, throw me a bone here. I use Unirenkos which are range based. Can you show how monthly PA looks over the past 6 months on the time-based charts you use and why July looks like a negative PA month?
 
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