ES Journal - 2016

A close below 1850 would really be nice today.

 

Ouch--Outside down day on Cash. Typically not great for bulls on a more macro basis than intraday.

 

Not only that, it was an outside day to the previous 3 days on Cash.

 

Likely need the Bollinger Bands to catch up with hourly before we would see further downside in afterhours.

 

can you place a chart?

 

nothing to like after today's fade if you're bullish

 

you have to understand something that happened today thats very important for the future of the markets. The FED basically said they will wait and wont raise. So basically equities will hit stops above overhead. Right now its testing stops below before the ramp up. The technical picture should improve, and other central banks will add stimulus comments to resurrect the wealth effect. I would have expected it to flush much lower but it didn't. The shorts are scared because the FED backed off.

 

What's important to me is that I still see new lows before new highs (not saying there will be new highs though).

 

still inside a downtrend, if ES settles above 1910 at the close then i'll be bullish

 

are you still holding your short from last year?