ES Journal - 2023/2024

[schizo]

Stocks go up, stocks go down?

Were we talking about 10 or 20 point whipsaws?

 

[Spectre2007]

 

[schizo]

Isn't this no different than if yesterday the ES broke out to new highs, then today it sold off almost to the breakout day's low, then rallied back and closed at the high of day? Maybe it seems odd because stocks had been on such a one way escalator for so many months. But looks like good price action to me.

2 day price action is not the same as intraday PA. Anyway, need to further monitor the Globex tonight but if we break below today's low, which is VERY HIGH, then expect some real pain. This market will be in a serious trouble.

 

[Spectre2007]

 

[Spectre2007]

if you missed the 5580 pivot, EMA indications. 5440 is the next pivot to pay attention to and trade around.

 

[Laissez Faire]

I don't even know where to begin. How the fuck do you explain this?

View attachment 344970

Volatility spiked. Market’s selling off.

 

[schizo]

As you can see, we're barely above the trendline. Were we to plunge tomorrow and pierce below the TL, this is what I expect to see playing out in the coming days.

 

[Spectre2007]

Volatility spiked. Market’s selling off.

there is nothing new in the PA whether it is bull or bearish, both patterns are repetitive historical in nature. I learned to trade PA just watch the bid and ask on the floor at the CBOT. On the floor they didn't allow personal computers or tech. So had to develop your own internal oscillator for bullish or bearish indications.

 

[schizo]

Volatility spiked. Market’s selling off.

As they say, hindsight is your best friend. But weren't you feeling giddy, like everyone else, when ES was spiking higher by 100 points, thinking the selloff is finally over?

 

[Spectre2007]

As they say, hindsight is your best friend. But weren't you feeling giddy, like everyone else, when ES was spiking higher by 100 points, thinking the selloff is finally over?

todays PA is just a bounce off the trendie at 5440, so the algo's just went with it and than reality set in about the future geopolitically/economically.