ES Journal - 2023/2024

v-shape-0DTE said:
Again the Q's are hitting 500. No way of that missing. Today was just about screwing over options. It will happen tomorrow.
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seems likely!
bit of a nothing day for me today. Just waiting for a rip!

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v-shape-0DTE said:
Again the Q's are hitting 500. No way of that missing. Today was just about screwing over options. It will happen tomorrow.
More...

Sure, why not. That's less than 0.5 % from current highs. So, more interesting to see what happens after that.

Even you know that this market will retrace. This near vertical rise can't be sustained indefinitely. The most difficult play is if we get a sloppy, range bound pullback.
 
Laissez Faire said:
Sure, why not. That's less than 0.5 % from current highs. So, more interesting to see what happens after that.

Even you know that this market will retrace. This near vertical rise can't be sustained indefinitely. The most difficult play is if we get a sloppy, range bound pullback.
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It will warn everyone with a daily bearish candle when it's ready. Until then we don't even consider a bearish play. Anywhere from 486-488 is a real possibility in a sharp pullback, which I'm ready for.

Remember I said the market won't go down until possibly July 9th. I'll have to find that post.
 
Laissez Faire said:
This near vertical rise can't be sustained indefinitely.
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Using the trading range after the June 17th breakout, depending upon where you choose to measure from, a leg more or less equal to that range would target the low 5660s up to maybe 5675? I feel 5675 is a nice number to look forward to. Since every new high is a new all time high there are no frustrated bulls or bears above. Blue skys above only.

Like you said earlier a lot of bears probably sold short close to 5615 at 2:45 PM and here we are back at the highs.
 
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