ES Journal - 2021/2022

Chirp Chirp

 

What the heck! I step away for a couple of days and it all comes tumbling back down.

 

R2 to S2 on the weekly pivots

 

this comment didn't age well. I think i made that comment at the absolute top around 4500. LOL

 

Multiple time frames help. That was the one thing I kept coming back to was that my monthly charts looked bearish going into April.

 

Also, I think having some objective indicators that tell you market momentum are helpful, I know Overnight argues that no one can predict anything, but this indicator gave a warning even ahead of 2020 meltdown. I like this because the MACD gives an alert and then the parabolic SAR gives a confirmation:

 

Thank you very much. Will definetly have a look. Are you laying these indicators over the SPX?

 

That one is a customized all-US stocks momentum indicator.

But here is all-US advance-decline line over the S&P:

 

Futures are red. SPY down .45% pre-market. Ditto the Q's.
I'm gonna go out on a limb here with a btfd call.
This market reeeally wants to go higher.
I think a lot of weak hands were shaken out Friday and yesterday morning.
If they do start climbing at the bell, it'll be a very swift climb.