rip pacw. looks like bulls likely getting fisted tomorrow.
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
regional banks, Powell is simply lying, pig is still a pig.
No use making any predictions going into FOMC, but this type of weekly structure with an initial FBO on Monday and continuation lower on Tuesday often takes out the prior week low by end of the week.
So, technically, it's not very bullish at the moment from my POV, so I wouldn't be surprised to see 4050 or more by week end.
Probably going to sit tomorrow out and see if I can pick up the crumbs on Thursday.
Progressing well as per the template outlined above.
Every FOMC day that closed down recently closed down the next day as well.
There may be rips and rallies, but I think the momentum down is too strong by now to save this weak (pun intended).
Or maybe the market will surprise us once more and reverse higher. Probabilities and common sense says lower, though. But there's no knowing for sure how high we can go first.
I'm selling here, though. Will take a few stabs with tight stops in case I'm early. 4115.
Already had one short entry at 4112 which went back to B/E.
EDIT: I see 4120 as top of the range for now. If we break out above there, maybe we'll see 4135/40 for the swing high.
I'm selling here, though. Will take a few stabs with tight stops in case I'm early. 4115.
Already had one short entry at 4112 which went back to B/E.
EDIT: I see 4120 as top of the range for now. If we break out above there, maybe we'll see 4135/40 for the swing high.
Another B/E stop out at 13.25. Got back in 09.25 and may stop out B/E on that one as well. Ultimately, I think we'll see lower numbers this week, but it can go higher first.
The best outcome for the short side today would be if we open below yesterday's low (4105) and are unable to get back inside yesterday's range on the RTH Open.
I am on the side of ‘let’s tag 4200’ once again
When?
I can easily see that next week as the range bound market continues, but not my main scenario for this week.
Now, watch us have a huge day up today. LOL.
I hate being short, though. Seems like there's always a bid in this market except the few times I go long with a 20 point stop.
Covered this one on a trailing stop at 96 for +13.25. May just have given up a really good entry, but didn't want to risk it go all the way back into the Open.
Primarily looking to short again, but probably not until the RTH Open. We can easily go bid on the Open, but I'll be looking to sell at some point. Best is if we get a failure around yesterday's low.