ESM2024 long trade, stop and take profit in place as seen on the chart.
This is no financial advise! Do not risk real money on any idea published by us.
All signs point to a pullback in the market. I think JPM/AMD and some other big names might even be our leading indicator. The only real pullback target I could come up with is a 50% retracement which is fairly common in the market and within trends themselves.
The S&P 500 is in the neutral zone trade with a bullish bias. The expectation for Tuesday is for today range trading inside of Monday's range with a higher close.
The previous day's low (5038) is currently supporting the bulls. Interestingly, we have not been able to break through the overnight high (5057) yet. A breakout above it can set new impulses, with the next targets being the upper #BouhmidiBands (5069) and the previous day's high, which is even higher at 5095. However, a break below the previous day's low (5038)...
The video explains it all a lot better, but basically, we are sitting with higher highs and lower lows on the trend timeframes that brought us here (30m-4hr), otherwise known as the Pac-Man symbol.
Trends into today are;
Last Macro Trend Signal Spots (ES Contract)
30m - 5083 Uptrend (4/25/2024) Higher High
1Hr - 5083 Uptrend (4/25/2024) Higher High
2Hr - 5131...
Trading Plan for Wednesday, April 24th, 2024
Market Sentiment: Uncertain, with bulls maintaining control after yesterday's rally but price action becoming more complex after a trend day.
Key Supports
Immediate Supports: 5095-5100 (major), 5082, 5076 (major), 5067
Major Supports: 5056 (major), 5047-45 (major), 5027 (major), 4996-5000, 4966 (major), 4945-49...
Capitulation begun from last Thursday and if you was short throughout the beginning of this week, you would be sure to have booked a healthy piece of that explosive movement.
Not one day passed where ES printed bullish on the daily timeframe after last Thursday’s high @ 5257.50. Fridays bearish sell off was met by bullish resistance at the Jan 31 2024 daily...
My plan today for SPX levels;
My main level is 5011.
Bull Plan
If we open above 5011 and stay above 5011 we can test 5027 with 5043 and 5053.
Bear Plan
If we open below 5011 and stay below 5011 we can test 5000 with 4994 with 4988 (this is my preferred move at opening, then adjust).
Stay Frosty!
The " Volatility Valuation Index " proved to be quite reliable ... again....
Mind you this is a SETUP tool, to locate EXTREMES in Volatility.
It is NOT a SIGNAL tool, to be used for entries / timing.
That said, its accuracy sometime can be impressive.
But even under these circumstances, I do not use it as a timing tool
(Works across all markets & timeframes)
Price action after thursday night's geopolitical spike returns to normal.
After the spike the ES retraced to the 6pm open creating a text book ICT bearish breaker pattern. Reaching down to the NY Midnight opening price. Then bouncing up reaching into the first Pd Array above equilibrium (FVG) creating another bearish breaker pattern which re-established the...
The PCE numbers coming out on Friday can set the tone for the S&P 500 not only for Friday's action but week as well. How the market will respond is 50-50.
RSI hit oversold last night, expecting a rebound next week.
Decided to take a small long position with both calls and stocks, don;t really trust this market, lol.
