ES Journal - 2023/2024

vanzandt said:
Right after I made these posts... it started dropping. I forget where it bottomed out before that gut wrenching reversal.

I blame it all on Schiz.. :cool:

I told you your new avatar messes up my mojo. It's bad juju. You'll see. You better change it. It's bad juju. Not for me anymore though... so that leaves you. :wtf:
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Curious. Why were you calling for a drop?

For the first time in a long while I was trading what I thought would happen, i.e., risk off into the weekend because of the unresolved Iran/Israel situation. That's the only reason I was kind of bearish on Friday.

Did you see something else?
 
I think this could fall on the open later on if the downward trend line maintained.

upload_2024-8-11_12-59-33.png


upload_2024-8-11_12-59-59.png


But having said that, the NQ managed to break above the previous weeks close, which could be bullish.

upload_2024-8-11_13-4-1.png


Any thoughts on the NDX weekly below? My understanding is that a break of the trend line, followed by a sharp revisit is pretty bearish?

upload_2024-8-11_13-5-12.png
 
Personally, I'm betting on continuation tomorrow. If I like the action on the Globex Open, I'll start legging into a small sized long in case the bull train leaves the station early and add more later. If I'm early or wrong, losses will be small.

Can't rule out a pullback first or even a reversal back down, but it's possible FOMO keeps this pushing straight out of the gate.
 
Laissez Faire said:
Personally, I'm betting on continuation tomorrow. If I like the action on the Globex Open, I'll start legging into a small sized long in case the bull train leaves the station early and add more later. If I'm early or wrong, losses will be small.
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Same here. We'll likely be bullish for the first half of the week. But if we turn bearish and end the week in the red, don't take the stair. Go for the nearest elevator because the building will be collapsing. :)
 
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