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ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
that's just an excuse, i think the market wants to close green today after 2 red days.
anyway, ym trades were stopped out in red after this sudden jump. es was manageble for few points.
PPT Algos insisted on an Outside Reversal Day… for the short term at least!
That's not an excuse, that is cause and effect. It certainly is not coincidence.
of course it is, the guy isn't a voting member this year.
He doesn't have to be. Algos control the markets, and when the algos see 25BPS, they bought.
Here's two pics to follow, and use @Georpe s pic above as a time reference...
The is the ES/MES before he spoke. You see the red bar the vertical line is on? Down below is how long that bar took to form and then close. It's a teal vertical bar with number of seconds on the right y-axis scale. It closed at 1:25 PM and change, 230ish seconds was time in bar.
Now here's the next bar...
Nearly 10 minutes later, the next bar closed. And you can tell that on the right y-axis scale. Close to 600 seconds. Now remember to refer of when Bostic spoke per @Georpe pic.
Hell, the first white bar before the teal was even longer to close, about 14 minutes, around 1:07. This indicates that right up until Bostic spoke, the ES took nearly 30 minutes to go absolutely nowhere.
Now look at what happened after that second white bar at 1:35. Those bars closed very quickly heading up. The market took the next 30 minutes to jump 25-30 points? And you say this had nothing to do with Bostic? That it is a coincidence that at that moment the market somehow "decided" that it wanted to close green after two down days? Yer fooling yourself.
These are 7,3 Unirenko charts by the way, if you were wondering.
While there may have been a catalyst, the market was already setting up. Meaning, sometimes the market is poised to move in a certain direction and someone just needs to light the match and drop it on the pile of gas covered logs. Today was an example of that. Some folks didn't need to wait for the match, they just recognized the conditions and decided it was time to buy. And then all of the talking heads can talk about the catalyst. The conditions were set up all along earlier today if you looked hard enough.