ES Journal - 2017/2018

Bigger picture. Barring any headline risk I have 2740-2750 target going into earnings. AA kicks off on 4/18. Some of my daily projections give a move to 2800+. 2840-70. By no means in a linear fashion. Not a bad rr long side trade developing. Breaking the range from the 3/23 on should propel to 2740 on it's own. This weeks trading is pivotal, holding Friday's lows to 2570.

 

You are making these projections based on...?

 

Price action, price over time.

 

Anyone have a real time monitor FOMC open market activities. Here is a rough comparison of FED balance sheet to SPY start of this year.

 

Appreciate the posting, but I'm not sure I understand what you are getting at. I made a total of 2 trades Fri both from the long side and made 9 points minus 2 commissions at roughly 10 times leverage. It is my view that the market continues long so I look for opportunities from that side.

 

So far market holding the 61.8% retrace from Fri high

Flat 2620.25

 

And I congratulate you. Nevertheless your read of the market was completely off on Friday.

 

Even if we traded up 150pts this market still wouldn't be a long.

 

I don't think so. Rather I believe my read of the market was a good one as I didn't buy the top and take large losses. I entered as the market was making it's move.

 

I believe we'll pullback after open and a good long setup will develop today into Tues.