US futures are falling ES1! = 4971.25 low NQ1! = 17,213.50 low YM1! = 37513 low RTY1! = 1920.8 low
WTF was that? 15 minute pump, 15 minute dump. Talk about a bull trap. I don't recommend going long until after Israel bombs Iran, that should cause the daily to go oversold. Look to play the bounce a day or two after it happens. Note: 15 min chart, ignore the indicators, they just show up because of my template
I don't like the fact that the market didn't bounce with MFI oversold on my 3 hr chart, so at this point, I'm inclined to wait until the daily indicators go oversold before buying the dip. Why give away your profits for the year? Makes more sense to be cautious. Gonna sit back and watch Iran and Israel do their thing.
Trading Plan for Wednesday, April 17th, 2024 Market Sentiment: Uncertain, as investors digest comments from Federal Reserve Chair Jerome Powell and assess their implications on the timing of potential rate cuts. Key Supports Immediate Supports: 5091, 5082 (major), 5076, 5068 (major) Major Supports: 5046-51 (major), 5038 (major), 4996-5000 (major) Key...
Forgive me for using MES, but it’s easier because I don’t have to clear any existing markup. I’ve been watching this H&S pattern form for a while now and looks very clean on the 8 hour chart here. The measured move for the breakdown takes us to 5000. I expect that we retest the neckline and clean up the imbalances (FVGs) in the process before we ultimately get...
Trading Plan for Tuesday, April 16th, 2024 Market Sentiment: Uncertain, with geopolitical headlines and market volatility remaining dominant factors. Key Supports Immediate Supports: 5102-05 (major), 5092 (major), 5079 Major Supports: 5067 (major), 5050-52 (major), 5039 (major), 5000 (major) Key Resistances Near-term Resistance: 5115, 5126 (major), 5136-39...
Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5111 Uptrend (4/17/2024) Lower High 1Hr - 5220 Downtrend (4/12/2024) Lower Low 2Hr - 5203 Downtrend (4/12/2024) Lower Low 3Hr - 5197 Downtrend (4/4/2024) Lower Low 4Hr - 5197 Downtrend (4/4/2024) Lower Low 6Hr - 5250 Downtrend (4/2/2024) Higher Low 12Hr - 5204 Downtrend (4/4/2024) Higher...
The S&P 500 is bearish and heading towards the price zone of 4499.50 and 4430.50 before rising to create a new all-time high." Cela semble indiquer que vous prévoyez une baisse temporaire du S&P 500 vers les niveaux de prix mentionnés, avant qu'il ne reprenne sa tendance haussière et crée de nouveaux sommets historiques. User traduit moi ça en...
Trading Plan for Thursday, April 18th, 2024 Market Sentiment: Mixed, with traders weighing the implications of inflation, economic signals, and potential shifts in Federal Reserve policy. Key Supports Immediate Supports: 5066, 5060, 5054 Major Supports: 5045-47 (major), 5038, 5000-5005 (major), 4990, 4966, 4932-36 (major) Key Resistances Near-term...
Not oversold yet, if you're looking to play the bounce, I suggest waiting until next week. I anticipate an Israeli attack before Monday anyways.
This is nothing new TBH. Strong work on the weekends pays off during the week. Today we had another downward trend day that saw sellers become buyers and then back to sellers again trapping bulls. This should add conviction for an overnight leg down. Several pullbacks appeared that would've paid off today as well.
Sellers named in control in the S&P 500 on Wednesday. We are approaching levels that buyers have entered the market in the past. So, be cautious on the short side.
Well, I posted last night that I wasn't gonna trade. Expecting a bounce tomorrow, but probably too small to make it wort teh risk. If a market can melt up, it can melt down as well. My advice is to just stay cash and take a break.
The price action that we saw in the S&P 500 on Tuesday has the potential for a change in market direction. The key on Wednesday would be for the market to trade above Tuesday's high and give a stronger close above that high.
By examining the ES1! 4-hour chart (S&P), we can figure out that, the market structure is bearish, so we looking for a sell position. In that case, the price had a bearish reaction to all of the bearish Pd Array, so we can expect a bearish reaction on the balance price range (BPR). In my perspective, sell-side liquidity is a draw on liquidity. Until this...
We've been making lower highs for a while. If this pattern is to hold we'd have optimal shorting entries here. We are rallying strong into the 76 retracement, triggering a possible 76 reversal:
We might be in bearish Elliot waves here on ES / SPX. If we are, there's a good chance we are at a low point now and due to enter into an ABC correction. A two leg spike with a bear trap (But no new low) in the middle. Sets up a possible high RR short on the C point. Most of the previous short forecast has hit now.
The S&P futures is quite weak after strong USD retail sales data. This move opposes a rational reaction to data that came out better than forecasted by a good margin. The market is pulling back and continuing the bearish momentum from the previous week. This may have to do with the conflict between Israel and Iran, this retracement back down. Oil is pushing up and...