That would be an ATH
As for me, I'm expecting a full-fledged recession in 2024. So ride this baby up to 5000 and then ride her back down is my current plan.
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
As for me, I'm expecting a full-fledged recession in 2024. So ride this baby up to 5000 and then ride her back down is my current plan.Agreed, but I think even worse. I know this isn't the right forum for it, but when the recession starts, I just don't see how they will fix it. When they print a shit ton of money, the inflation will go through the roof. If they don't print like crazy, its a deflationary collapse. Right now, even when we aren't in a recession supposedly, they are still running a $2T deficit. So even if they drop rates 1% next year, interest rate payments are still very high number for the amount of current debt, and never mind all the additional debt. Plus, lets not forget that foreign holders are dumping UST's.
So when the ball gets rolling to the down side, I don't see what they can do. The ball is starting on a much higher hill than the 2008 crisis, and the way they "fixed" the Covid crisis will either not work this time around, and/or make things much worse. The only true solution is austerity, curb government spending, and get on a new path of living within the means of the budget. IOW, I think it will get very ugly.
i think its best for all of us for a deflationary collapse, we've gotten out of those before. we've never really experienced an inflationary collapse.
Premarket already pretty decent, a decent setup for a short and than an even more clear long setup.
I`m anticipating a tremendous opportunity in Real Estate in he next 24-36 months... commercial & residential... once in a lifetime opportunity to create generational wealth/ holdings for future generations created by the FED... I will be adding to my portfolio when the time is right.... Patience as of Now!
EOD 3:30 squeeze?
Not fully confident but that's what I am looking for, so light sized due to the really quick fake out drops we've had today.
Not sure about a squeeze, but tricky day for sure, lot of undershoot and overshoot making it pretty tough to trade.
Yeah so far it looks decent for it, I mean we had all those drops that got regained ,when that happens on micro time frames it normally ends up being long, and these happened on more macro time frames and we regained a lot of it, plus after 3:30 does favor longs generally speaking.
But yeah I am not all in and risking the farm, on a day like today they could just dump it again well aware, just trading some QQQ and MNQ. Keeping it light.
3:50 MOC may ruin the party for me though. Not expecting huge squeeze NQ to 16845-16850 would be nice.