ES Journal - 2023/2024

I can hardly see any upside (breakout up).

AAPL, MSFT, AMZN and GOOGL count for 15% of SPX, and the same group of these four stocks count for 38% of NDX. Just look at these charts, they are on or near 52 weeks low. The math of breakout doesn't work. MSFT got hammered today.

Anything rally into 3900 I'd sell.

 

From a fundamental standpoint I agree, but it's the "math of the algo's" near term you need to pay attention to.

 

I predict a breakout within T minus 5 days.

 

I'm claustrophobic, I feel locked in.

 

So what are the algos up to tonight?

 

https://www.nytimes.com/2023/01/04/business/economy/inflation-markets-fed.html

For layman’s read, summarized perfectly.

I’d sell any rally, 50bps is not out of question.

the algo will have to lift these four plus TSLA.

 

Crunching #'s, trying to get the edge up on their competitors' algos.
Whales are gonna whale.

 

What?? Is that another one of your cryptic messages?

 

Agree. All my daily charts (SPX/NDX/OEX/SOX,etc)/indicators point more likely to a drop ... very soon.

 

It was. It meant we'd be flat overnight. The whales are resetting the game-board. Good day to just watch things, see what they have in mind.