ES Journal - 2023/2024

Cessna06P · Feb 5, 2023

Down out of the gate, where are we going tonight?

Buy1Sell2 · Feb 5, 2023

Cessna06P said:
Down out of the gate, where are we going tonight?

I love overnight pullback.

Buy1Sell2 · Feb 6, 2023

Breakout of IHS on weekly--

Laissez Faire · Feb 6, 2023

Laissez Faire said:
No new gaps last week, but a volume pocket was created in the 4100 area on that late session FED surge on Wednesday. Basically, the market went too high, too fast.

So, maybe a pullback to 4100 to start the week. Friday's pattern also have a negative bias (net change down) for the coming Monday.

In play…

Repeated attempts to go higher overnight and a failure to close the Sunday night gap was a big tell, IMO.

4090 - 4100.

If that area doesn’t hold we may certainly start considering if this will be a down week. For now, let’s consider it a tradeable pullback or simply a down move.

schizo · Feb 6, 2023

Buy1Sell2 said:
Breakout of IHS on weekly--
View attachment 305669

The neckline should be as flat as possible IMO. This one is practically drooping down on the right side.

schizo · Feb 6, 2023

Laissez Faire said:
In play… Repeated attempts to go higher overnight and a failure to close the Sunday night gap was a big tell, IMO.

4090 - 4100.

If that area doesn’t hold we may certainly start considering if this will be a down week. For now, let’s consider it a tradeable pullback or simply a down move.

Overnight doesn't carry much weight these days. Once the RTH opens, it could completely reverse. We've seen that happening all throughout the past 2 weeks.

Laissez Faire · Feb 6, 2023

schizo said:
Overnight doesn't carry much weight these days. Once the RTH opens, it could completely reverse. We've seen that happening all throughout the past 2 weeks.

Regardless of all that, we’re due a pullback here, buddy. Maybe this is all we get, but I have my eyes on that 4.1K level for now.

A larger gap down on the RTH Open in that area could be a good buy, though.

I’m short for now (29.50) with a buy order at 09.50. 10 point stop.

Headed to the office so this one will stay unmonitored.

themickey · Feb 6, 2023

Laissez Faire said:
If that area doesn’t hold we may certainly start considering if this will be a down week. For

A very high probability according to my calculations (not guesswork or hunch) we have the next 4 as negative trending days (nothing severe) and Friday recovery day.
Let's see how that pans out.

Laissez Faire · Feb 6, 2023

themickey said:
A very high probability according to my calculations (not guesswork or hunch) we have the next 4 as negative trending days (nothing severe) and Friday recovery day.
Let's see how that pans out.

Without stopping me out first?

I pray you’re right, buddy.

Laissez Faire · Feb 6, 2023

Laissez Faire said:
Regardless of all that, we’re due a pullback here, buddy. Maybe this is all we get, but I have my eyes on that 4.1K level for now.

A larger gap down on the RTH Open in that area could be a good buy, though.

I’m short for now (29.50) with a buy order at 09.50. 10 point stop.

Headed to the office so this one will stay unmonitored.

Filled while doing soul-sucking work. + 20.00.