ES Journal - 2023/2024

Actually, I just stopped out my long here for a loss.

Will consider re-entering long at a later point if this bottoms out. If not, we can trade all the way to yesterday's LOD from here.
 
Laissez Faire said:
I pray you're right, but these gyrations and deep pullbacks are making me dizzy.

I think I'll take a conservative target if we do trade higher from here.
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I'm thinking it will play out like yesterday, up, down, up...(for now)

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schizo said:
I'm thinking it will play out like yesterday, up, down, up...(for now)

View attachment 305845
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Maybe.

Small sample size, but my statistical model gives a mixed view for today at this point in time.

Simplistically, one could possibly say that we had multiple attempts to move higher which failed. So, I'm not as bullish as I was this morning.

I'm flat for now. May go long if we start moving above 4155, but not going to pick a bottom here.

Actually, the week 50 % retracement is at 4142.50 where we just bounced. Maybe.

EDIT: 4143 is also yesterday's mid-point in RTH. Maybe we can find a bottom here after all.
 
From what I can tell, I don't see today bouncing later today -- at least nothing significant. One thing I noticed last night was that breadth wasn't particularly strong yesterday despite the rally.

Laissez Faire said:
Maybe.

Small sample size, but my statistical model gives a mixed view for today at this point in time.

Simplistically, one could possibly say that we had multiple attempts to move higher which failed. So, I'm not as bullish as I was this morning.

I'm flat for now. May go long if we start moving above 4155, but not going to pick a bottom here.

Actually, the week 50 % retracement is at 4142.50 where we just bounced. Maybe.

EDIT: 4143 is also yesterday's mid-point in RTH. Maybe we can find a bottom here after all.
More...
 
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