I don't think this move lower is over, personally.
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
I don't think this move lower is over, personally.
We should get 1 more follow-through tomorrow (or maybe 2 days with smaller bars) with the target of 5550-ish. But I don't think we're done with selling just yet.
LOL you old fogey.I thought the same around April of 2000 and March 07
Anyway it sure feels like '07 all over again, doesn't it? We'll be retesting the April low once we're done with this pullback here.
Funny you mentioned 5550. That’s what I was eyeballing, too.
Maybe we rally into CPI Wednesday and that number will pivot us higher or lower into week end.
We covered a lot of ground last week retracing half of August. It is possible that was it for now.
Probably wise to stay flexible in the time ahead.
At any rate, I’m a sucker long up here on small size. Adding tomorrow if not stopped.
Very possible. I don’t have a strong opinion at this point.
LOL you old fogey.
Anyway it sure feels like '07 all over again, doesn't it? We'll be retesting the April low once we're done with this pullback here.
Have it felt like 07 other times since 07 or is this the first time?
I just know how fast this market have recovered in the past catching people off guard. The plunge prior to this one for example.
As someone who has been selling mortgages since the early 2000s, 2022 felt like it was going to be 2007. It's almost unbelievable how well this economy has held up in the face of tight monetary policy and debt loads.
It is funny, I copied/plotted your scenario in here, and while it feels like a big bear, she becomes just cute when you look at the monthly chart for perspective:LOL you old fogey.
Anyway it sure feels like '07 all over again, doesn't it? We'll be retesting the April low once we're done with this pullback here.
Excuse this pussy for not recognizing the real lion.
In any case, you should use a log chart, which is more representational when it comes to these super long term charts. And keep that trendline in mind, might I add. If we ever break below that trendline, all hell will break loose.
It is log, just look at the axis. Look for fun at the MSFT monthly chart (log), 2013-2022 is just 1 straight line.Excuse this pussy for not recognizing the real lion.
In any case, you should use a log chart, which is more representational when it comes to these super long term charts. And keep that trendline in mind, might I add. If we ever break below that trendline, all hell will break loose.
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To summarize, I expect it to go up, and if it doesn't we go down. Perhaps some sideways. The ranges will be tested for a perfect bounce, which could also be an overshoot or an undershoot
