MFI already oversold, but RSI is not. Considering ES has an open gap below, I recommend waiting. It's my birthday tomorrow, so not opening any trades today, good luck.
BTW, this is why I keep saying earnings are crap shoots, lots of people got burned pumping for META (FB) earnings. MSFT and GOOGL AH today, but both gapped down last time.
WTF was that? LOL, Powell pump and dump in just one hour. I know I keep saying Fed days always whipsaw, but that was ridiculous.
Futures up a little on QCOM earnings, Europe might bounce overnight, sold of hard this morning, more whipsaw.
Anyways, it messed up the indicators, so no trading until things go overbought or oversold. Taking the rest of the week off.
Stocks have survived a standard Ichimoku cloud pullback and the bull run off Volume Profile support of 4979. Price has recovered up to the 50% Retracement (Kijun Sen) of the move down.
5148 = 50% Retracement Resistance and price this week is responding to it. The Volume Profile Resistance above it is 5167.
These are the levels to conquer to resume the 2024...
Mentioned this in the NQ post, ES is not oversold yet on RSI or MFI.
Recommend waiting until tomorrow to buy the dip, though gap direction may depend on earnings. AMZN tonight, QCOMM tomorrow, AAPL on Thu afternoon.
The overnight range was the name of the game today. As mentioned earlier, we were looking for a potential break in either direction. After establishing the initial balance, we saw a test of the overnight session low (5019), which was successfully defended. Subsequently, buyers entered the market, leading to a push higher in $ES. This move broke the high of the...
In this video, we will discuss the potential targets for ES1!, NQ1!, and RTY1! in the upcoming week. The technical indicators I've used include Bollinger Bands (20,3), Beacon Indicator, 5-day SMA, and YTD AVWAP. The market environment has turned bullish again as I believe the short-term sell-off in market indexes is over. We are now back in bull mode, anticipating...
So again, I cashed out my trade just above 5000 as we fell last night following the Israel drone strike against Iran. Most of that dip appears to have resolved itself, at least for the moment, but those geopolitical issues will likely be crucial to the potential of a market fall in the coming days.
I go into it in the video, but major Earnings are next week, and...
HOW MANY TIMES DO I NEED TO SCREAM 6 1 8??
Short off the PRE MARKET HIGH it's all in PLAIN sight!
Never chasing always LOOKING FOR PREMIUM entries OVER 1k in profits
SHORT when others BUY and hunt deals! I will PAY IT FORWARD
I said yesterday that it would get overbought today and go down. Well, here we are. Made a little money with puts like I said I would.
Indicators now neutral, META earnings probably dictates gap direction tomorrow. Just gonna stay cash and take potshots at the market with options. I'm guessing MFI will cycle fast like it did a a couple of weeks ago, just...
Going over the price action overnight pre-PCE looking for clues and discussing plan for the report today. we are sized down but looking to go with whichever way the market wants to go today. no feelings just reacting to zones.
While technical have us in the daily trigger zone for a another bearish leg, I think future contracts and overall market sentiment is set to consolidate. There is some confusion amongst investors but, with a bearish bias overall. A break and close below a previous day low will help technical to begin a second leg.
Buyers came into the S&P 500 late in the session on Wednesday with the lower opening in Asia. Can buyers return to move prices higher to drive the market back to Wednesday highs and that is the expectation.
SP500 open with a gap down.
going for a long position before it continues its trend downwards.
Entry: 5052.25
Stop Loss: 5040.75
Depending on how movement is my first take profit is ( 5072.25 )
Full Take Profit: 5086.25
Track this ICSA, wait for its topping point from a large spike or obvious crashing event, when it reverses for that top, good time to buy for "recovery" play, until we all crash eventually to fix all this BRR printing anyway... we gotta play the printer, JPowel saying "all is ok" while market denies an initial positive sentiment returne to a negative day.
Bulls...
multiday short trade on sp500 . Tp at 4700
at the SP/VIX ratio, candle marked a bad bearish shadow, a hypothetical prelude to the formation of a bearish parallel channel. Possible index target 4700 points.
