ES Journal - 2023/2024

I stopped out for 1 tick of profit on the 48 long trade. It would now be 2,5 points in the red.

If we bottom out and make a new push higher I can re-enter again at 48.
 
2nd last trading day of January today. Nice bullish bias.

Negative bias for the last trading day of January, actually.

If we close down - 1 % today it will be the first time in a long time we do that on the 2nd last trading day of January. May not mean anything though, but that's just some of the stuff I look at from time to time.
 
Cessna06P said:
Looking to jump in long but it looks like the valley of indecision here.
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I'm long the NQ from about 12050, SPX was about 4050 I think at the time. I still think the SPX could drop down to 4010 before a bounce up, or even a move lower.

Will probably see how we do over the next hour before thinking about cutting my losses.
 
c1rcle said:
I'm long the NQ from about 12050, SPX was about 4050 I think at the time. I still think the SPX could drop down to 4010 before a bounce up, or even a move lower.

Will probably see how we do over the next hour before thinking about cutting my losses.
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I'm on the sidelines now and will probably stay there until the last hour.
 
c1rcle said:
I'm long the NQ from about 12050, SPX was about 4050 I think at the time. I still think the SPX could drop down to 4010 before a bounce up, or even a move lower.

Will probably see how we do over the next hour before thinking about cutting my losses.
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Last week's RTH mid-point on ES at 36.25. Could trigger a bounce if we get there.

Market's in a range now and pushing the lower end of the range.

I just know I don't want to short this action, but who knows.
 
Laissez Faire said:
Last week's RTH mid-point on ES at 36.25. Could trigger a bounce if we get there.

Market's in a range now and pushing the lower end of the range.

I just know I don't want to short this action, but who knows.
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Maybe. That will be a bit too low for me to wait for.

I think after 6 consecutive green days, and the touching of a previous daily point of resistance, it makes sense for the SPX to have a couple of red days now.
 
FWIW, I just checked my statistical model and the chances of a recovery today are very slim at this point. A drop into the Close is more likely.

Maybe 4030.

I'm probably calling it a day here soon.

The kind of day that goes range bound and only when it's too late you realize it was a down day. Kudos to everyone who catched the short side today. I misread this one.

If we should rally out of here I would be very surprised, so curious to see where we close today. By rally, I mean closing above 4060 or more.
 
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