ES Journal - 2023/2024

[Sekiyo]

Wow What a Lovely Market
Might get a nice reaction around 35
Done for today. See you tomorrow.

 

[schizo]

Short 55

SL 66
PT 26

 

[SammyJ]

Guys like Schizo causing this melt up . God only knows how many 100’s of times he’s shorted at been stopped out the last few months . Short that top baby!!!

 

[mervyn]

JPMorgan Says Stocks to Suffer $150 Billion Rebalancing Sales

 

[Spooz Top 2]

4800 by years end ---Staying long.

Yup…. Larger TFs are telling the tale!

 

[mervyn]

3900 year end

 

[ElCubano]

3900 year end

But first it hits 4800?

 

[mervyn]

But first it hits 4800?

I am not chasing highs, fully invested in short term treasury until he changes tunes. His reasoning is on the mark. The risk reward is not here to go long.

Remmber last August sell off? Not more 5 weeks consecutive green since the pandemic, which we are at now.

 

[Buy1Sell2]

Nice bullish day today. The monthly chart with January just completed now leans heavily towards a breakout of an IHS. For now I am going to stay long as it appears that higher prices are in the offing.

In my view, the bear market is now over. The IHS on monthly chart shows me that. This turned out to be a big one but not The Big One.

Both weekly and monthly appear to me to be uptrends.

The issue with this pullback is really that there was no topping pattern especially on weekly and monthly and so I have to believe that we are still in a new bull market with 4800 by year's end. Charles Payne has been talking about The Street being upset that they missed the initial rally and would like to bring things down so they can get in. According to him, The Dumb Money was making gains and that wasn't right since The Smart Money was not on board.

Notice how we moved out of the bull flag to the upside once but there was no continuation. That's what I am looking for ---a break to the upside out of the channel with a continuation. Reminder---we are on the backside of a cup and handle here with IHS in daily, weekly and monthly.View attachment 307462

Long

IHS on both weekly and monthly.

--and I was impugned--

 

[Bad_Badness]

Ran my Long Algo this week live using Optimus-Ironbeam-MC.
Did 14 trades for plus 1600, with 475 the largest drawdown. All one contract on ES.

Still working on it, but for this market it is doing well. Also working on other setup-systems to complement. Let the farming begin.