ES Journal - 2023/2024

Laissez Faire · May 10, 2023

The LOD broke and then some.

Let's see if this bottoms out in this area (4145) or if it sells off. If it sells of it will probably be without me.

So far repeating the pattern from last month. Big run up pre-market and a sell in RTH.

Laissez Faire said:
It's tempting to do something stupid, but these parabolic moves usually retraces.

Quoted for truth.

It's so easy to believe otherwise when the market is pumping.

Laissez Faire · May 10, 2023

It's amazing how consistently both rallies and drops keep failing in this range bound market. A lot of volume coming into the market on this drop.

If we repeat last month's pattern today's an Outside Day, i.e., < 4131. I'd be impressed if this reverses and makes a new HOD today. Appears very unlikely by now.

Laissez Faire · May 10, 2023

A lot of volume coming into this move higher as well. I may end up getting impressed today.

Master Pu · May 10, 2023

3rd time lucky to break?

Laissez Faire · May 10, 2023

Master Pu said:
3rd time lucky to break?

Up or down?

I'm still trying to pick a bottom here. 1 x 3 point loss and 2 B/Es so far which was considerably in the money at some point.

You get the feeling that NQ is the only thing holding up the market here, though.

Master Pu · May 10, 2023

Laissez Faire said:
Up or down?

I'm still trying to pick a bottom here. 1 x 3 point loss and 2 B/Es so far which was considerably in the money at some point.

You get the feeling that NQ is the only thing holding up the market here, though.

Up

Laissez Faire · May 10, 2023

Master Pu said:
Up

Looks like the Outside Day from last month will repeat itself after all.

Master Pu · May 10, 2023

Laissez Faire said:
Looks like the Outside Day from last month will repeat itself after all.

Well, I am biased

Laissez Faire · May 10, 2023

Master Pu said:
Well, I am biased

That can be dangerous...

My last attempt at picking a bottom here. Lots of air if the current LOD doesn't hold.

This could easily rip from here, but generally, today is very, very unlikely to reverse back up from here. Then again, a lot of volume coming into this market and it could get to be one of those weird days.

Master Pu · May 10, 2023

Laissez Faire said:
That can be dangerous...

My last attempt at picking a bottom here. Lots of air if the current LOD doesn't hold.

This could easily rip from here, but generally, today is very, very unlikely to reverse back up from here. Then again, a lot of volume coming into this market and it could get to be one of those weird days.

I am biased until the time I see a reversal, that’s what I meant