ES Journal - 2019/2020

VIX declined 13 days in a row after topping out on Dec 24. Yesterday was first Green Day. Friday could get ugly.

 

This is what I like to see, a rising mkt with rising VIX. Added more at 22 with avg now at 10

 

To put into perspective how large this vacuum is from the onslaught in December, AMZN just rallied 30% in roughly 3 weeks to test its 200d MA from below.

 

Crazy stuff

 

There is no obvious reason to be short here other than odd daytrades. I post trades with stops and losses as a rule.

 

so noone else sees the upside breakout from ascending triangle ? could it be a fakeout ?

 

On an intraday basis only, this is a place to exit longs temporarily (2616, 2617).

 

I looked at your chart recently and I agree that it is breaking out from what you described. Someone else in here though said that an ascending triangle was a precursor to sell off, so wasn't sure which of you was right.

 

put most simply - daily trend is still decidedly up for now..

 

Depends on how u evaluate the mkt. Agree on counter long off dec 24 low but not overall. You get long now w/o stop...it could hurt.