ES Journal - 2021/2022

Relentless said:
Lol. The ego is strong in this thread.

FYI more than one way to make money on markets. What might look like sorcery or witchcraft to one trader might be a license to print money for another.
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Who said there wasn't?

You can't deny that trend lines are subjective and will vary from one person to the next or even from one day to the next with the same person.

Saying that people haven't learned to draw trend lines properly and not explaining further what's meant by that seems like an odd comment.

Here's something I had in my own archive. I added some variations at the bottom to show how varied these lines can be...

On the bottom right, I "pretended" there was a spike low which frequently happens. If you are to include all prices, this would greatly change the TL compared to if you only use the full body.

upload_2022-8-28_20-9-41.png
 
Builder17 said:
Couldn’t opposite be true, that it’s being pushed down to buy more before next meeting
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Big funds are like a herd, as it is impossible to manipulate stock market (not referring to futures after RTH), they just follow each other. Once the word gets out that one is a buyer others join in and like @schizo said, they all watch index’s major levels, trend lines and averages, as that’s where they come in to accumulate or distribute.
 
Master Pu said:
So getting back to your post which depicted a rising trend line, is this what you expect to be most likely outcome? I do see 3,505 SPX before ATH reached.
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If I had to put a number on it, I'd say 3950-ish in the short run. If that gets taken out, then the next obvious target would be your projection at 3505 or thereabout (mine's around 3550 to be exact). Depending on how severe the so-called "pending recession" might be, we just might revisit the channel that extends way back to 2008 when free money poured into the stock market. If so, then we're looking at 2700 level. But I don't even wanna speculate that far out in the future.

Here's a visual for those might not be in the loop.

Weekly ES

upload_2022-8-28_13-5-3.png


Monthly ES

upload_2022-8-28_13-7-51.png
 
Builder17 said:
Couldn’t opposite be true, that it’s being pushed down to buy more before next meeting
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Most likely. That's how the market is supposed to work, moving from one extreme to the other extreme. But this is all mind game. It's all about perception, or rather misperception. Market makers along with the media deliberately send out misinformation to fool and trap you. Once you get trapped, then they reverse on you, leaving you holding the bag.
 
80 - 100 points rally tomorrow if 4050-60 holds, yes? But that's a might big if.

Opening gap down and not finding a bid I think we'll easily see 4000 and lower tomorrow.
 
Laissez Faire said:
80 - 100 points rally tomorrow if 4050-60 holds, yes? But that's a might big if.

Opening gap down and not finding a bid I think we'll easily see 4000 and lower tomorrow.
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The market has nothing to rally on. Only thing between now and Brainard speak tomorrow afternoon is Aussie retail sales? AHHAHA!

Asia is going to chew hard on Powell's Friday talk, and they are going to spit it out. More down ahead.
 
Laissez Faire said:
80 - 100 points rally tomorrow if 4050-60 holds, yes? But that's a might big if.

Opening gap down and not finding a bid I think we'll easily see 4000 and lower tomorrow.
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I’d say 70 pts up move would be max, but whether it’s likely or not, after such a close on Friday, I’d say not very likely.
 
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