FWIW, assuming we close up for the month, then the January Barometer (Stock Trader's Almanac) suggests that S&P 500 finishes up for the year (with 83.3% accuracy). This in addition to the other cyclical indicators I cited earlier this month. Just putting that out there.
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Markets seem to be back in 'free money' and BTFD-mode for now. Time for a rug-pull, soon? 
I would normally agree, but I am trying to remind myself these days that the downward move was "explained" using macro but was probably more psychology to begin with. Therefore the move up could be psychology alone?
One thing that helps me, is to remember that it is irrational to expect people to be rational.
You're brave. Selling into a rising market or generally just fading/selling a range high intraday is very difficult for me. Like the most difficult trade - even if I have a valid signal. I think I lost too much money in the past doing that, so I guess I'm scarred.
We're still in a sell zone here on the daily, IMO. So, you may get it. And people seem to be a bit too bullish now. And I remember how that played out through each minor/major high last year.
Who the f''k knows where we're at by end of next month, though. I'm just happy to take it day by day. And today that's higher.
4100? Are you serious? That's only 10 points from here.HOD most likely coming in the last hour today. Maybe 4100.
Most likely, that is. You never know for sure. If you did, you could bet the farm.
Conservative target, but you never know. Could be that someone wants to sell into that level and we've had a good week to the upside already, so no need to be greedy.
I just closed out a small scalp (3.5 points) at 90 as I just came home and I'm calling it a weekend. It's a Friday night here in Norway and I should have better things to do than to sit and watch these silly prices move up and down. LOL.
If I were to guess, we'll see another push higher by the Close, though.Only one loss this week at 3 ticks. I think that's a first. 1-2 hours trading per day.
It's generally speaking a good confirm of uptrend.
I certainly didn't get in a day trade mid-day on Friday a to just get a small move, so I hope he's wrong.
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"It's not about the money. It's about the game. The game between people. And that's all it is."
-- Gordon Gekko
-- Gordon Gekko