ES Journal - 2023/2024

c1rcle · Jan 13, 2023

Master Pu said:
I know I mentioned this before, but we all like to look at filthy pictures, so here is one of FTSE100, they also have a shit load of problems there including high inflation and high energy prices, public sector seems to be constantly out on strikes, people tightening their belts, etc. Stock market didn't seem to care about negativity, just smashed through the resistance of the range-bound market.

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The FTSE100 has a totally different make up vs the S&P500. More energy and commodities focused stocks.

Also, where a lot of countries have been heavily taxing energy profits to help control inflation, the UK government is creating money to pay energy companies for higher prices instead. This then drives the those stocks etc.

chillibean · Jan 13, 2023

schizo said:
But we're heading up to 4050 tomorrow. Oh, well.

On Friday the 13th, too! Good to hear. I'm long and wrong at the mo but have faith in you!

vanzandt · Jan 13, 2023

Overnight said:
Because through the years I have trained my eyes to see dips to be bought, not rips to be sold. That is natural considering the bull-market we have been in from 2014 when I started until last year.

turn your monitor over. it works.

vanzandt · Jan 13, 2023

vanzandt said:
fwiw... I wouldn't want to be long into the close or overnight.
cash is at 3985 as i type.
never know though, i could be wrong

There ya go. As expected, banks and DAL.... "headwinds ahead"

vanzandt · Jan 13, 2023

Watching SPY in RTH yesterday afternoon, it was obvious the big volume came in on the sell side as soon as the dom on the buy side got deep enough. Sure sign the whales wanted out. All the spikes up were low volume, the "buys" beneath would build for several minutes, and then bam, big sell order comes in and knocks out all the buy orders.

c1rcle · Jan 13, 2023

I think the day might close right around where we are right now - ES 3964

easymon1 · Jan 13, 2023

schizo said:
Could gold be leading the way for ES? We shall find out in the next few days.
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vanzandt · Jan 13, 2023

c1rcle said:
I think the day might close right around where we are right now - ES 3964

Tough call, but if there's not a decent bounce (.42% higher than now) by 10:20 AM, we're going lower still.
I see it's a 3 day weekend too. That sucks. Hate those. :mad:

Too many holidays in this country. You people need to work more.

Buy1Sell2 · Jan 13, 2023

As most know, I love these overnight pullbacks orchestrated by 3 teenagers in their underwear in moms basement when we're in an uptrend.

c1rcle · Jan 13, 2023

vanzandt said:
Tough call, but if there's not a decent bounce (.42% higher than now) by 10:20 AM, we're going lower still.
I see it's a 3 day weekend too. That sucks. Hate those.
Too many holidays in this country. You people need to work more.

Yeah lower would make sense too. Or higher if we see a bounce which could also make that level the low of day.

My logic for it being the closing price is that it will drive the most transactions going into next week because it will be the 0.618 level. Bulls and bears will both have a claim for either direction.