ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
SPX 4kish
Reversed off this level for now.
Let's see if this holds for the LOD or not. I don't have a strong opinion. Could get loose if it breaks.
We may very well just range for the rest of the session closing below 90, but if we start ripping it's always possible to recover the HOD. Appears unlikely right now, though.
The 50 % Level from last week could very well be a pivotal point for the bulls to save the week and we reversed off that for now. Always a bid in this silly market.
Let's see if they can push this back up from here. 4205 definitely in the cards by the Close. Not a call, just a potential target.
First things first: 4187.
Let's see if they can push this back up from here. 4205 definitely in the cards by the Close. Not a call, just a potential target.
First things first: 4187.
A correction seems due, but I'm assuming buy-the-dip is still in vogue until we see more range expansion and downside momentum.
As of now, this could easily be a consolidation at the highs after last week's larger move. It's been a strong May so far and historically that suggests higher prices going into month end.
There just seems to be so many bears now which makes me think we might be due at least a bit more up side.
But this all just shooting from the hip admittedly.
As of now, this could easily be a consolidation at the highs after last week's larger move. It's been a strong May so far and historically that suggests higher prices going into month end.
There just seems to be so many bears now which makes me think we might be due at least a bit more up side.
But this all just shooting from the hip admittedly.
Just got interesting after that quick sell off. 
The 50 % Level from last week could very well be a pivotal point for the bulls to save the week and we reversed off that for now. Always a bid in this silly market.
Let's see if they can push this back up from here. 4205 definitely in the cards by the Close. Not a call, just a potential target.
First things first: 4187.
Isn’t there usually more shorting interest near major or should I say obvious resistance levels? Sometimes double tops are so precise, it’s nuts, and other times they get negated.
Could be. I don't know.
I have no idea where this market is going medium/long term.
It's impossible for me to say if this is just one deep pullback before the next leg higher (medium-term, that is) or if we actually started a larger correction this week which will get continuation.
Stopped trying to make sense of it all a long time ago. Just playing the moves to the best of my ability (and that's below par for the last few weeks).
I have to credit you for nailing down the top very well so far, @Master Pu. Impressive.
We did come up to that obvious resistance zone around 4200. I guess I just figured it was too obvious and too easy that we would reverse off there.
We did come up to that obvious resistance zone around 4200. I guess I just figured it was too obvious and too easy that we would reverse off there.
Let's see if this can hit 75 going into the Close.
Would be interesting if it pukes into the Close instead, but that 4150 level should hold enough significance at least for a bounce I would guess.
Would be interesting if it pukes into the Close instead, but that 4150 level should hold enough significance at least for a bounce I would guess.