ES Journal - 2023/2024

Wunderbar

 

Your prayers were heard.

 

sold 2 at 51 stop at 54.75

 

I am thinking of shorting Stoxx 50 futures.

 

out - 6

 

I would have made it to green if I left my stop as is, but no I had to choke up on the bat.

 

Try to short Apple but couldn’t find shares with TS on Friday.

Also note that 15 mega cap companies generated nearly 90% of the ES movement, over concentration or flight to safety?

 

Certainly seems like NDX/NQ are the driving force behind the continuation of the upside, speculators have flipped to being long Nasdaq and remain short SPX. Next obvious resistance is not that far ahead though. With inflation continuing to decline, it is unlikely for the FED to continue to raise rates, so as far as rates are concerned, we have probably peaked or are close to it. Trend-following funds have no choice but to go long, hence the flip from being sellers of tech to being buyers IMHO.

 

Long here. Targeting > 4165 by the Close. Or minimum 4160.

Wrong below 42.

Could reverse and drop, but appears less likely.