ES Journal - 2023/2024

[mervyn]

(The Chart Report)

It would be very constructive to see a decisive break above 3900 in the near term, but that hasn't happened just yet.

I can hardly see any upside (breakout up).

AAPL, MSFT, AMZN and GOOGL count for 15% of SPX, and the same group of these four stocks count for 38% of NDX. Just look at these charts, they are on or near 52 weeks low. The math of breakout doesn't work. MSFT got hammered today.

Anything rally into 3900 I'd sell.

 

[vanzandt]

The math of breakout doesn't work.

.

From a fundamental standpoint I agree, but it's the "math of the algo's" near term you need to pay attention to.

 

[Noone123]

I predict a breakout within T minus 5 days.

 

[schizo]

Aside from 50 point +/- days?

I'm claustrophobic, I feel locked in.

 

[schizo]

but it's the "math of the algo's" near term you need to pay attention to.

So what are the algos up to tonight?

 

[mervyn]

From a fundamental standpoint I agree, but it's the "math of the algo's" near term you need to pay attention to.

https://www.nytimes.com/2023/01/04/business/economy/inflation-markets-fed.html

For layman’s read, summarized perfectly.

I’d sell any rally, 50bps is not out of question.

the algo will have to lift these four plus TSLA.

 

[vanzandt]

So what are the algos up to tonight?

Crunching #'s, trying to get the edge up on their competitors' algos.
Whales are gonna whale.

 

[schizo]

Crunching #'s, trying to get the edge up on their competitors' algos.
Whales are gonna whale.

What?? Is that another one of your cryptic messages?

 

[SunTrader]

I can hardly see any upside (breakout up).

AAPL, MSFT, AMZN and GOOGL count for 15% of SPX, and the same group of these four stocks count for 38% of NDX. Just look at these charts, they are on or near 52 weeks low. The math of breakout doesn't work. MSFT got hammered today.

Anything rally into 3900 I'd sell.

Agree. All my daily charts (SPX/NDX/OEX/SOX,etc)/indicators point more likely to a drop ... very soon.

 

[vanzandt]

What?? Is that another one of your cryptic messages?

It was. It meant we'd be flat overnight. The whales are resetting the game-board. Good day to just watch things, see what they have in mind.