ES Journal - 2017/2018

If this ball starts to roll downhill, aint nobody getting in front of it. And no telling where it ends up

 

We could end up at 2850 or worse. Burn off a whole week or so of gains. If we get downhill momentum.

 

A bit early to start eulogizing the market when all we've done is touch up with the gap to new highs:

 

What we are witnessing here is simply an attempt to fill a gap on the daily chart. I look for the market to resume it's uptrend in short order.

 

With the floor at 2800 firmly in place and the 2850 floor nearing completion, I am not worried about whether or not to "get in front of it" .

 

This looks a heck of a lot like institutional buying here (and would correspond to hitting the buy stop limits around 2773). If so, that should mean some late day buying (after 2:10), a green close, and one heck of an opportunity to BTFD. Watch for the early fake followed by the volume spike.

Edit: To disect today's SPY, you can see the big red volume bars which are actually bullish (marketable orders sold into the resting institutional floor orders). It reverses because it just bounced off a floor, and shows continued strength into lunch (on very high volume). Just a little anemic into the open is all.

 

Oh, horshit. Too easy to outsmart yourself.

Let's see this plays or we close low or below. And another day lower.

 

Can't wait for all the buying starting in 20 mins? is this 2:10 EST?

 

Really nice bull flag on Daily Cash chart. ---Staying long and buying oversold conditions intraday and swing.

 

Unfortunately I have had to put Rocketman987 on ignore. Too much spamming and negativity.---Ishmael.