ES Journal - 2016

If numbers come out weak, market will be pressured down similar to yesterday. So our employment numbers and others might imply further corporate profit recession. When that happens the market readjusts at lower levels. Yes we may bounce on bad news is good news temporarily. But ultimately corporate profits dictate overall trends.

 

So far, daily price action has been strong off the lows and we have surpassed point B, there was no interest there to take us lower. Whether it's an overshoot time will tell, I am staying long.

 

A slow sideways bear market is what is painful for both longs and shorts. A gradual slope down.

 

Let us not forget that we are under 10 SMA monthly. These are attempts to carve a bottom. I sense real fight will take place at 10 SMA, just like before.

 

Courtesy of Apex82

 

Right, the beginning of the month.

 

I'm looking for a top at 198-200 spy or 1972-1999 ES

 

Last I heard Apex82 was in process programming his system and implementing in other commodities.

 

Crash/bear market has been canceled. Just shows market can be moved by the largest player.

 

Chris, how come I have an impression that you can't make your mind up what this is, are you saying the bull market is back on?