ES Journal - 2019/2020

Which way is this going to go when we leave the 2950 neighborhood?

 

Slight nod to down out of this trading range but too slight to bet on

 

PA for today: Vegas, Baby, Vegas.
https://www.imdb.com/title/tt0804722/

 

50% level area, BO mode. which one is more likely, BO up or BO down?

 

now probably a tad up...but I won't do anything until I see some impulse either way

 

Waiting for the 60 min to close in 10 mins and might try a probe long

 

I`d scalped the living hell out of this wedge for last 2 hours... long side only... we`re at the apex here ... looking for a 3 o clock pop... or drop... but am leaning long side ... flat here!

 

Like many, I'm noncommittal until I see some volume, but I am leaning south.

 

Fed chairman Jay Powell speaking in a few minutes......watch out !
https://www.reuters.com/article/us-...o-host-fed-listens-event-may-21-idUSKBN22O359

 

I expect a nothing burger

I can summarize what I expect him to say:
1. Economy sucks like a mofo
2. We will provide liquidity for as long as needed
3. We don't see inflationary risk, we are actually more concerned about deflationary risk
4. We won't pull out at the first sign of recovery, we will make sure the recovery can last
5. Asset prices have rebounded, but we aren't sure they are seriously inflated. The market is best at correcting itself
6. FED cannot buy equities. We simply provide liquidity