Out BE
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
This is an asset rotation, not a market correction. Semms healthy for how lopsided the market has been since January. Tech, tech, tech!
I exited my Dow trade 1000 points too early, and that was just a couple of trading days ago! Frak.
Ahh well.
The real test of the broadening market breadth will be on Jul 31st at the next fed meeting, and then the Sep meeting, where fed futures are pricing in a 100% chance of a rate cut??!?
OMG, those guys are so whacked.
Soooo... how many retail traders do any of you think had the balls to short the Q's at the close today? Around $482? Very few would be my guess. Markets always bounce right? Right. A 2.9% drop....?!... unheard of. That's usually when they drop more.
If it bounces and returns to last week's levels.... its strong. But if they (Q's) open down and don't bounce, down 2.9% is nothing.
If it heads up, bet the farm short at $491.67
Tomorrow only though.
-->Analysis one day at a time.
If it bounces and returns to last week's levels.... its strong. But if they (Q's) open down and don't bounce, down 2.9% is nothing.
If it heads up, bet the farm short at $491.67
Tomorrow only though.
-->Analysis one day at a time.
Even if this is market top (assuming it's not for now), it's not likely to top out in one day. There's usually always some back and forth.
So, looks like a green day today from my POV. A move back to 5690/5700 seems likely in RTH if we catch a bid. No follow through to the downside so far in ETH.
So, looks like a green day today from my POV. A move back to 5690/5700 seems likely in RTH if we catch a bid. No follow through to the downside so far in ETH.
From what I've picked up a lot of people are only too eager to short this market, so wouldn't be surprised if quite a few traders are trapped short near yesterday's low from here. Could be a nice set-up for a squeeze today.
Not at my trading computer ATM, so just going by memory, but I do think a day like yesterday typically don't see a lot of follow through the next day. Usually, it's either a consolidation around the prior day low or even a full reversal up.
First line of support: 5635-ish. We have UNFINISHED BUSINESS AT 5717.75. More unfinished business at 5611.25. Chose your side.
Update: Nancy Pelosi told the head honcho at the White House privately that he will lose the White House to the hush money paying porn star lover.
Man, you have some real nice choices as POTUS! (/sarc)
YM AM dip buy. Long at 41433, stop is at 41437. Profit target is again the Globex open. I would not be surprised if it doesn't come back down to the low od day again for a final daily bottom. It also wouldn't surprise me if it rips back to yesterday's high.
If I'm stopped I'll happily buy lower or higher as needed.
15 minute chart to give a view of the orders.
If I'm stopped I'll happily buy lower or higher as needed.
15 minute chart to give a view of the orders.