ES Journal - 2021/2022

[c1rcle]

Well, for me, I simply don’t see that anything has changed fundamentally that warrants a sustainable rally. Seems like the same pattern repeating as on prior rallies this year.

People were pretty bullish and hopeful on these prior peaks, too. And the market looked very strong.

I imagine a lot of people were caught on the wrong side of the market last week only adding to the buying pressure.

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Looks like we could go a bit higher for a trend line bounce, maybe we see that range today, but I am still building into a short from Friday.

 

[Laissez Faire]

Looks like we could go a bit higher for a trend line bounce, maybe we see that range today, but I am still building into a short from Friday.

For the record, I’m not calling a top here.

But based on prior action this year and current market conditions, I would be very cautious to read too much into this rally.

It’s interesting that we gapped down on Sunday’s open and haven’t even been able to close that small gap. Makes you wonder.

 

[ElCubano]

For the record, I’m not calling a top here.

But based on prior action this year and current market conditions, I would be very cautious to read too much into this rally.

It’s interesting that we gapped down on Sunday’s open and haven’t even been able to close that small gap. Makes you wonder.

it’s a tough spot here to pick any side.

 

[mervyn]

I will add more shorts if goes up, probably short few ZN too.

 

[SunTrader]

RTY weak one of the bunch again.

 

[Buy1Sell2]

At the moment, continuation higher is the more likely path---at least in the short term.

 

[SunTrader]

Another sleepy Monday, just like last week.

 

[c1rcle]

Isn't this the 0.618 fib level of the SPX right here now? Could be a big drop shortly.

 

[Laissez Faire]

Sluggish. Not much happening up here. My volume chart is barely updating here at the highs.

Looks like the open gap above at 4066,75 could be a target short term.

I'm a late long from 4014 and will be happy with 4020/25 intraday. Late entry, so will stop out B/E if not.

 

[Laissez Faire]

I'm a late long from 4014 and will be happy with 4020/25 intraday. Late entry, so will stop out B/E if not.

Covered that one for a tick.

The market's in bull mode right now and most likely we grind higher into the Close, but not much time to monitor the markets now and I don't want to lose money today on a 10 point pullback.

Very low volume/action above last week's high, though. Not sure if one should read too much into it, but probably not the most bullish sign.