ES Journal - 2023/2024

Master Pu said:
Tricky one, also quite probable that we close in red today following an initial upward move.
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Definitely possible. We sold off last month in the RTH session following a gap up.

I'm certainly not chasing a long up here, but if we get a nice PB, I think I'll be leaning long.

Waiting for the dust to settle... :)
 
Master Pu said:
I don't see price action confirmation of the end of the upside, do you? I know it looks toppish. (fwiw I trade weekly chart with daily serving as trigger).

This is SPX, NDX looks way better.

View attachment 314260

Speculators remain short SPX in quite large numbers.

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I am curious whether large specs went long tech to partially offset drawdowns in SPX/INDU. It doesn't really matter as we would never know as a matter of fact :)
 
Traders getting chopped alive as there’s no direction. Right now it appears there’s just too many people trying to short thus we struggle to fall . Just had quick 17 pt run . Let’s see if we can finally get past 4200 next few
 
My God, this is actually painful to watch sitting on the sidelines. Fortunately, not as painful as for those who are short.

It's tempting to do something stupid, but these parabolic moves usually retraces. Unless something changed today. And from the look of that CPI number that clearly isn't the case.
 
Laissez Faire said:
My God, this is actually painful to watch sitting on the sidelines. Fortunately, not as painful as for those who are short.

It's tempting to do something stupid, but these parabolic moves usually retraces. Unless something changed today. And from the look of that CPI number that clearly isn't the case.
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We are getting closer and closer to leaving the range, SPX is stuck, INDU too, NDX is nearing a breakout.
 
Trend day definitely possible here. Simply watching for the LOD (61.50) to hold from here.

First target would be 4185.

Shorts must be exhausted and terrified by now.
 
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