ES Journal - 2019/2020

And you were right...nice call. The Dip 'n Rip crowd bot the 2:15 pm dip and the rest is history.

 

ES is a like a bipolar teenager lately. My call was pretty much based on the pattern that setup on the 60 min.

 

Huge bull-bear battle going on. Tomorrow could be another big test of 3220-30...can we hold it ?

 

Bipolar. I think possibly what's happening is it's going into sideways chop and reading the market is difficult if thinking in terms of it trending anywhere.
It might be November before it goes anywhere.

 

No side way here drop like a F stone! Short to 3186

 

And here is your vaccine news....are we going to close this gap before we pop to the moon?

 

Close this gap there is no moon.

 

I'm old enough to remember when the government investigated, prosecuted, fined and jailed biotech pump and dump schemers rather than colluded with them.

In all seriousness, fellow traders, remember who the President is. Consider the degree to which he has successfully browbeaten Jerry Powell into forsaking all of his long-held prior principles and beliefs in order to do the President's bidding with respect both to fiscal policy and also the nation's money supply.

Then, ask yourself, is there anyway before election day that this market ever sees more than a modest pullback before someone somewhere says something that causes the shorts to become suddenly inspired bulls.

This is a President who only views the world in economic terms. He believes with all his being that the only thing that matters is the economy. And the President, being a transactional soul, believes the economy is equal to the stock market's closing price.

Whether you are for the President or against him, he is the President, and will be until at least January of 2021. And all that matter's to him now is the stock market's closing price on November 2, 2020, the day before election day. He wants the S&P 500 at $4000 and the Dow at $40,000 on election eve. I don't know that he will accomplish that feat, but you better believe that he will stop at nothing to achieve such a result.

Trade accordingly. Easiest money you will make in ten to twenty years.

 

The DOW at 40,000? You had me until there

He controls the market, but he doesn't control the economy.

People will figure out the difference real soon.

and the market will follow ..

it has no choice in the end.

 

If he is no longer the president on November 3rd, 2020, hold onto your hats. He will sabotage the economy in ways you cannot imagine. Mark it, dude.