ES Journal - 2023/2024

And you know why they're pumping up the price into the close, right? They anticipate a selloff (or they will orchestrate a selloff) tomorrow.
 
Laissez Faire said:
I would guess ES close green today. Maybe 5380 for an Outside Day.
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Outside! And up! Nice call, LF!

I kind of use the daily and weekly charts for levels and then 1 minute chart for actual entries. The SPX poked its head above last week's high in the closing seconds. I guess once the bears failed the breakout under yesterday's low the bulls took a carte blanche to push it back to last week's high?
 
schizo said:
And you know why they're pumping up the price into the close, right? They anticipate a selloff (or they will orchestrate a selloff) tomorrow.
More...

Nah. Everyone wants to be long into the anticipated CPI rally. :)

Big up day tomorrow unless the CPI comes out hot.

CPI Wednesday. | Elite Trader

flash crash said:
Outside! And up! Nice call, LF!

I kind of use the daily and weekly charts for levels and then 1 minute chart for actual entries. The SPX poked its head above last week's high in the closing seconds. I guess once the bears failed the breakout under yesterday's low the bulls took a carte blanche to push it back to last week's high?
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Could be.

My anticipated move for today was higher into Wednesday. I posted it in the thread above yesterday. That's why I was leaning so strongly long today. I just wanted to see that failure to break lower and bears getting rekt shorting into the hole as they tend to do.
 
Laissez Faire said:
Nah. Everyone wants to be long into the anticipated CPI rally. :)

Big up day tomorrow unless the CPI comes out hot.
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Dude, it's gonna come out hot. When I went to Costco last month, I couldn't believe how much they jacked up the price for just about everything. So if Costco had no choice but to raise prices, you can readily imagine what others had to do.
 
schizo said:
Dude, it's gonna come out hot. When I went to Costco last month, I couldn't believe how much they jacked up the price for just about everything. So if Costco had no choice but to raise prices, you can readily imagine what others had to do.
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Could be. I'm getting too bullish here, so I appreciate the alternative view.

I don't trust those numbers anyway. Pretty sure they're manipulated as they see fit.

Anyway, it's a coin toss at this point. Don't think I'll take a chance on any positions into that release anyway. The reactions have been slowly decreasing in impact, but I have a hunch tomorrow's reaction could be huge either way.

Hopefully, it will still be time to join the party in either direction post release.
 
schizo said:
Dude, it's gonna come out hot. When I went to Costco last month, I couldn't believe how much they jacked up the price for just about everything. So if Costco had no choice but to raise prices, you can readily imagine what others had to do.
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https://www.washingtonpost.com/business/2024/06/11/prices-retail-inflation-consumers/

I thought prices had started to come down (in some cases a lot) in the US. I cannot say because I live in Europe, and here things are just getting ridiculous (as in my *subjective* feeling is I'm being hit with a 25% increase in my supermarket shopping). Plus now it's impossible to buy a 1 liter of anything, it's all 900 ml, 750, etc. Not saying inflation is 25% or anywhere near, but groceries, daily expenses, etc... I have an ok financial situation and I feel it, but I can only imagine how people on a tight budget must be hurting. :(
 
Laissez Faire said:
Could be. I'm getting too bullish here, so I appreciate the alternative view.

I don't trust those numbers anyway. Pretty sure they're manipulated as they see fit.

Anyway, it's a coin toss at this point. Don't think I'll take a chance on any positions into that release anyway. The reactions have been slowly decreasing in impact, but I have a hunch tomorrow's reaction could be huge either way.

Hopefully, it will still be time to join the party in either direction post release.
More...

guessing we either blast up, or we get a big dip and then put in the usual 'V'.

Trigger finger will be on the buy button for me if i'm at the screen lol
 
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