ES Journal - 2017/2018

My guess is the pain will end when we close below his key support level. Hats off to him for sticking to his “soft” stops. They work well in a bull market but not in a bear.

I stand by my pattern call that the high we saw in September is the end of the bull.

 

4 days up and 4 days down from last low. How’s that for symmetry!

 

I still say we're in a wide swinging range. As much as i would love to see the market revert to a somewhat more realistic valuation, id imagine we're going to base out soon and drive strong back up to the top.

No bear market catalysts yet .

 

Correct.

 

Day trade long 2714.00 Initial stop 2704.00. Day trades are 10 times leverage versus the much less risky 2 times leverage that I use on position trades.

 

need to clear 2721 before I look at raising my stop.

 

out at 2717.00 for 3 pt gain. I expected more snap back on that one and momentum is not there.

 

Momentum may be there later today, but for now I just grabbed the 3 pts and will wait for further maturation of long bias.

 

There you go. Dropped now below my entry point. Good read today.

 

What would a bear market catalyst to you be? What does the 200 day average tell you?