ES Journal - 2023/2024

We gotta go back and at least touch 4791-4818 spx, right? (resistance becomes support?)

 

4840-ish (the recent ES high) is already priced in for tomorrow IMO. If we're lucky, we might even go down and retest 2022 high at 4810-ish. That would be about 60 point drop from the close. Think it's doable for tomorrow?

 

On the daily I see @4873 (hit) as a first target and as 4811 as a second target

 

Your numbers are in line based on Volume Profile. Good on you for saying "ish"!
Notice the lack of structure on 1/19... 4835-ish and 4815-ish is what Im seeing.
Of course, the more important magnet-ish zone is 4792-4785.

Here's my ES RTH Daily with volume profile and naked POCs...

 

There ya go again with your confirmation bias.

I don't do Volume Profile or any of that POC thingy. It's straight up price action. I'll take the compliment though.

 

Is there any obvious reason to be short here? (other than intraday, that is)

(And yes, I think the market in general is overbought and I would love an orderly pullback to buy some stock for the middle term, but...)

 

No.

 

Think we see 4600'ish spx cash from here before making much more progress north.

 

look at ytd tpo print, 4875-4840 need to be filled. then there is 4700-4650 on monthly tpo

 

Anyone trading this? I was hoping for it to go a bit lower (particularly after yesterday's FED) before buying for a swing position, but it seems this is another train I missed.