ES Journal - 2023/2024

[vanzandt]

emergency cut would kill the market, confirming we are in a recession.

 

[vanzandt]

Who thinks we can close green?

 

[mervyn]

This seems like risk off, war preparations with a wait and see what happens "situation" for geopolitics.

Good range trading at this point.

Manual: Long and out +40 ticks
Algo Long 5212 and out +98 ticks

We are getting volume now. Longs going for it.

HOD test coming up. Long 5235 manual, +1 more@31

idk, just doing 8 ticks target and 24 ticks stop

 

[Picaso]

Who thinks we can close green?

AMD

Edit: But so far, it looks more like containment than V

 

[vanzandt]

Omg. You've gotta use common sense here. Two weeks ago the buy orders were flowing in hand over foot. Now what has changed? Politics? No effing way.

This is an algo driven sell-off geared to scare the weak hands. It's gonna reverse, and it's gonna do it hard and fast. Then ya'll will be sitting there scratching your heads wondering what to do... as it keeps climbing.

Jmho..

Is it starting? My goal was before lunch. It needs to get to gettin'.

 

[Bad_Badness]

Is it starting? My goal was before lunch. It needs to get to gettin'.

yeah but it is weak-fragile. Days like this are good to have patience. But some will confuse patience with a trouncing if it turns a range into a trend.

That 50 is a good sticky top of range. Looks like 40 is holding.

Starting to look like a Dead Cat Bounce day. Not much reason to go up now. But a few bombs in middle east would be a good reason to retest the low.

Good time for scalp mode.

50 test again and weak volume.

Algo long @49. and out for small gain @52.
Algo long @60 and out @62. It called that one right.

Back to test 40. No follow through on breaking 50.
Manual trying to get a long @41; missed it now @50
Lunch hour soon and should be active.
Not taking the @40 long this time. Will let is settle until 9:10-9:15 PT

 

[mervyn]

if they take my food stamps, just in case for the fellow elite traders

 

[schizo]

Who thinks we can close green?

50/50. We're not out of the woods just yet. I think one more rollover is still possible, like now.

 

[vanzandt]

I love how everyone on CNBC is trying to explain this. The jobs numbers. Japan. Fed emergency cuts. War. On and on and on.

This market doesn't care about any of that. The entire thing is an illusion. A battle of math in cyber-space being fought by Citadel, Bridgewater, Renaissance and a couple others.

Remember when TSLA was $160 a month or so ago and I wrote in that thread that the game was now on... the "higher it goes, the higher it will go" game?

I have a feeling that game is starting right now, but this time on the biggest pig of all... the Q's.

Could be wrong though.... we shall see.

QQQ---> $437

 

[Bad_Badness]

50/50. We're not out of the woods just yet. I think one more rollover is still possible, like now.

I think it happens after 9 AM, based on recent patterns. But it is setting up for it now. It is as if they set the algos to right after lunch starts. So you can be entertained while eating...