ES Journal - 2017/2018

This NQ weakness (following the parabolic up spike) seems to continue to hammer down any upside progress in the other indicies. Looking at 6617 as another short term potential bounce area

 

Today's high kissed the 60mn 200ma, triangle formation on the 60 and the 30mn.

 

Also hit the .618 retracement (2677.25)

 

Last 2 signals happened so fast with last being triple top negated any upside.
Just a beautiful controlled choppy day.

 

Yes that's the Grand slam. Fib with the 200ma. But its all temporary, take your meal when you get it.

 

Triangle formation, its not over until the fat lady sings.

 

I am looking intraday at a line at 2665 that could provide support for an afternoon leg up or perhap an afternoon ceiling. We'll see. For me, I stay long.

 

200 day SMA on cash at 2688

 

If we can't overcome yesterday's closing range selling we should be dumping to the low/new lows soon.

 

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If "SMA" is the 200 day simple moving average, I think you are about 77 points high on that figure.