ES Journal - 2023/2024

Discussion in 'Journals' started by Buy1Sell2, Dec 6, 2022.

  1. Buy1Sell2

    Buy1Sell2

    Likely although I can see beating Tuesday's high.
     
    #3141     Mar 16, 2023
    Laissez Faire likes this.
  2. FOMC next week and currently banking worries. The festering may continue a bit longer and if we finally have a breakout to the upside I'm not so sure it's going to get legs in this range bound market.

    Regarding the statistics you posted - one thing to keep in mind is that they're heavily skewed in favor of bull markets. Meaning, they may be less relevant in a bear or range bound market as we're currently in as those are the years that are likely to be the exception to those general trends.

    I posted last year a filtered seasonality chart for the indices which suggested that year end was typically bearish in a bear market as opposed to bullish which is true in a bull market.
     
    #3142     Mar 16, 2023
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  3. ElCubano

    ElCubano

    good point
     
    #3143     Mar 16, 2023
  4. Sorry for your loss, but I thought you had the obvious figured out...? :)

    I think fundamentals are more appropriate for non-leveraged and long term investing. For short or medium-term trading technicals are what matter. That is simply so because even if your fundamental view is correct, there may be a billion dollar fund that decides to buy or sell one day for other reasons than those fundamental factors and as a result may move the market greatly up or down. And even those that move the markets get it wrong a lot of the time.

    While I keep it strictly technical, I do keep the general economic conditions in mind as a backdrop. Meaning, I see no reason right now to be excessively bullish or believe we're going to see any sustained up trend anytime soon. I may easily be wrong on that, but at least that's what I believe for now.
     
    #3144     Mar 16, 2023
  5. Buy1Sell2

    Buy1Sell2

    They are just tendencies. Likely in a bear market, on average there may be better long opportunities in the seasonally strong months.
     
    #3145     Mar 16, 2023
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  6. Buy1Sell2

    Buy1Sell2

    Day trade Long 3911.25 Initial stop 3884.00
     
    #3146     Mar 16, 2023
    chillibean likes this.
  7. mervyn

    mervyn

    no trading this week but need to roll the last march contract perhaps tomorrow with a loss.
     
    #3147     Mar 16, 2023
  8. Buy1Sell2

    Buy1Sell2

    Out at 3966.50 for gain of 55.25 pts
     
    #3148     Mar 16, 2023
  9. mervyn

    mervyn

    profit target filled, +40, from last week

    dip buying is back.
     
    #3149     Mar 16, 2023
    Builder17 likes this.
  10. Looks more like the barnburner…
     
    #3150     Mar 16, 2023
    Buy1Sell2 and Laissez Faire like this.