ES Journal - 2021/2022

$SPX chopping back and forth slightly higher, while on the other hand $VIX is making new LOD's continuously.

 

Nice move, still holding sqqq

*edit +100 sqqq on support (resistance, as it would be on the main index)

 

75 bps... Old news... let's move on.

Selloff seems pretty dull, but it was expected. I don't think we'll head any lower than what we have at 3840. As previously stated, I believe there's a higher probability that we rally up than down.

 

New news is that 89% chance on another 75bps in Nov, it was 25bps few months ago.

 

Sell the rips.

 

we hit the bear market mark, probably will close on it today.

 

I doubt it. Next FOMC will be 50. Powell's no Volcker and he'll cave into political pressure, as he has been doing for the last 2 FOMC meetings.

 

Maybe next week.

 

We're now right back to pre-FOMC announcement. Not that surprising.

 

Confirmation of bear market continuation, for me, took place almost a week ago - when last Thursday's $SPX closing was below 3911.74

I believe this is just corrective wave 2 of higher level wave 5 down from Sept 12th swing high. Waves 3,4,5 to go. Then assess what's to follow.