ES Journal - 2019/2020

It's the gift that keeps on giving.

 

This is the infamous crapazoid crapangle formation...diabolical stuff.

 

Comment usually springs it

 

Afternoon brings a move back to at least the 3105 area. The drop is over.

 

Yes, smaller frames can be looked at but the risk is to make too many decisions. I prefer Risk Management to prevent big loss when wrong. ---Parabolic move stil intact here

 

resistance at descending 90-13,500t

 

Area of support now...if it doesn't hold, the steers may have a problem

 

I'm not sure how this is possible.

 

We had fear all year, and now traders feel exhuberant -what with xmas rally about to come on - suuuuure thing.
I'm not so sure!
The crowd will see the next pullback as 'BTFD' and one day, maybe soon, it will bite them in the bum.
As soon as traders as a majority relax, that's the danger signal.