ES Journal - 2017/2018

Where do you get 2% from ?

18 point stop based on 2710 basis

 

Cash close on futures Friday = 2738,00.

2% down is then 2683.

 

everyone waiting for the next drop.

Trying another smaller short here at 2689 spx
stop at 2699

 

Anticipating 2671 as a potential target below today if 86 does not hold.

 

I'm trading a squeeze from a stop run under 86.

 

Right at the bottom of this pullback now.

 

Need to climb about 4 points on cash from here to ensure that the rest of day is uptrend.

 

4 hours into rth trading, volume is running at 73% of Friday, with 2 and a half hours to go!
If the pace keeps up, (it's lunchtime so slowing and/or stalling is to be expected), 2650 and even 2603 are in the scope of potential... maybe even today!!

FWIW, 2600.5 WAS the overnight 5% limit down. That of course will change for tonight. Todays RTH limit downs(7,13, and 20%) are still far-away. And of course they will change as well. Just being thorough, not an alarmist.

https://www.cmegroup.com/trading/equity-index/price-limit-guide.html

 

Initially. I believe this move will carry us to 2710 and then a little pullback again and then resumption of bull trend with Tues close above last Fri close

 

2603,00 is almost 5% down and very unlikely, but sure, it's possible.

2650 seems like a stretch today, but we have seen similar days lately, so who knows...