ES Journal - 2023/2024

Laissez Faire said:
Seems like the bid fell out of the market. Market's only down 0.69 % as of now, so I'll imagine we have a good chance at filling that SPX gap by the close. Will probably see some new bets being taken on as we approach that level.

September did indeed turn out to be a red month. The weekly and monthly looks like a trainwreck at the moment. I wonder how October plays out. For the last two years it's been a strong month following a weak September. Not so sure we'll see that this year...
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Maybe another repeat?
https://en.wikipedia.org/wiki/Black_Monday_(1987)
 
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hilmy83 said:
I need to see the correlation factor of 2021-2023 chart with 1985-1987 chart now!
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I wouldn't hold my breath, but I imagine you're joking anyway... :)

The largest day down since 1990 was the 16th of March 2020 with a low reading of - 12.18 % closing down - 11.98 %.

Since the current top on SPX (4th of January 2022) we haven't had a single day exceeding 5 % down.

I'm not trading too actively lately, but seems like days like today with clean follow through down are rare. F**king dip buyers all over the place always ready to shred late shorts to pieces.
 
Now that's an impressive recovery off the lows.

Seems like the whole world was waiting to buy that trend line touch.

upload_2023-9-27_20-36-7.png


Laissez Faire said:
F**king dip buyers all over the place always ready to shred late shorts to pieces.
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Late shorts just got shred to pieces... :)

This type of late session reversals are fairly rare.
 
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