ES Journal - 2023/2024

Buy1Sell2 · Feb 18, 2023

Currently weekly chart---

easymon1 · Feb 18, 2023

Buy1Sell2 said:
View attachment 306723

In the event that's a weekly cup n handle a definitive break above the neckline projects a 100% target and a hella nice move.

mervyn · Feb 18, 2023

BOA calls for 3800 by March 8, let’s see if they are right. I think I can go long around that.

formikatrading · Feb 19, 2023

March 8-14 would be a good place to be looking for an intermediate-term low.

mervyn said:
BOA calls for 3800 by March 8, let’s see if they are right. I think I can go long around that.

Builder17 · Feb 19, 2023

mervyn said:
BOA calls for 3800 by March 8, let’s see if they are right. I think I can go long around that.

They really did a great job protecting 3800 in late Dec/ jan. Bulls gonna need this back over 4120 asap or trouble brewing

Laissez Faire · Feb 19, 2023

Keep in mind there's a third alternative to trending up or down: range bound.

And that's what the market's been for this entire month so far.

Buy1Sell2 · Feb 19, 2023

Laissez Faire said:
Keep in mind there's a third alternative to trending up or down: range bound.

And that's what the market's been for this entire month so far.

Bull flag (becoming a bull pennant) at handle of the cup.

Buy1Sell2 · Feb 19, 2023

Friday's candlestick on daily chart. Have to go back a long way to find one of these in a market that is pulling back. I interpret it as likely bullish but Tuesday's action will be needed to verify.

tiddlywinks · Feb 19, 2023

Buy1Sell2 said:
Friday's candlestick on daily chart. Have to go back a long way to find one of these in a market that is pulling back. I interpret it as likely bullish but Tuesday's action will be needed to verify.
View attachment 306749

It is a difficult call. Cash and futures are not synced... in both action and volume. Additionally, the charting time factor of RTH or 24hr, is a variable of analysis.

Here is S&P CASH index with default TradingView settings...

Of note, is Friday opening, high, and closing BELOW Thursday low.
Volume on Friday was highest since the drop of February 9.

Here is ES with TradingView default settings.

Buy1Sell2 · Feb 19, 2023

tiddlywinks said:
It is a difficult call. Cash and futures are not synced... in both action and volume. Additionally, the charting time factor of RTH or 24hr, is a variable of analysis.

Here is S&P CASH index with default TradingView settings...

Of note, is Friday opening, high, and closing BELOW Thursday low.
Volume on Friday was highest since the drop of February 9.

View attachment 306750

Here is ES with TradingView default settings.

View attachment 306751

Interesting, but I still feel that cash rules futures and I just don't think the 24 hr chart gives the best picture overall. The continuous chart could be used during the overnight, but I would never use it during RTH.