ES Journal - 2023/2024

WARNING: the attached chart was annotated in a matter of minutes, in hindsight.


Your "bear flag" is merely lateral movement. IMO, you are seeing the face of Jesus in the clouds.
An argument can also be made that we are in a up channel since mid-October lows.

For the time being, Im looking at 3722 and an extreme 3630 on the downside and 4075 as an upside.

STAGFLATION will be the word of the year!!
High/Increasing IR with little to no growth. The Fed's nightmare! But no market "crash": Only great 2-way trading opportunities.

 

TPO says the same, large pocket to filled at 3720 range

 

Lower, lower, lower.

 

Yea, my numbers come from NPOC's. (Naked Point of Control).

 

Well that was not a good afternoon for bulls

 

Guys, it's just a never-ending chopfest. Don't expect there to be a trend, period. In fact, 2023 will be a long series of chops IMO. Why? STAGFLATION.

 

We are in the valley of indecision.

 

Anticipating a Gap south tomorrow … followed by a 120 handle cascade…

 

Before RTH open?

NFP might be "too good"?

 

There is a license to print money in an established in trading range.. or chop…
It’s all perspective my friend!
Defined parameters are a good thing with a ceiling & floor…. Spank those lifts….