ES Journal - 2023/2024

there are 3 time pivots in ES

- london 2am
- NY 9:30 -10 am
- NY 2pm (1pm Chicago time) - everyone comes back from lunch to evaluate, so it couldn't capture the morning momo and sold off..
 
schizo said:
As they say, hindsight is your best friend. :) But weren't you feeling giddy, like everyone else, when ES was spiking higher by 100 points, thinking the selloff is finally over?
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If you read my prior post I did call for a short this afternoon, although it exceeded my entry point by 10 points and exceeded my suggested target to the downside. I also called for new lows today yesterday.

I also made a post last Friday saying I believe it's possible the market has started a correction. So, I wouldn't say it's just hindsight.

Having traded through a lot of high volatility regimes over the last 10 years, this week doesn't strike me as anything special. Although of course it's a completely different market than we've seen over the last year or so. If we see a full 10 % correction the market have plenty downside still. If it's a correction similar to the last one (around 7 %), we have another 100 points to go.
 
Today looks a lot like a day in March 2022 doesn't it? Even the prior day pattern looks kind of similar.

What you see every day in the market is some familiar pattern repeating itself. Some more familiar than others of course. Today was an A. The V seems to be on holiday. :)

upload_2024-7-25_22-58-5.png
 
Laissez Faire said:
I like a long on the Globex Open if the market’s acting right. Maybe a weak dip below today’s LOD first. Targeting 5560 or more tomorrow.

Could be completely wrong, but that looks like the play. :)
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5560? You're obnoxious, dude. :D It's more like 5460 (not 5560) is your best chance to unload before it flips on you.
 
schizo said:
5560? You're obnoxious, dude. :D It's more like 5460 (not 5560) is your best chance to unload before it flips on you.
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Let’s see how it plays out. Market’s seem less predictable when volatility spikes, but if we open gap up tomorrow 5560 looks possible from my point of view. Seems like a stretch, though. I agree.
 
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