Futures Day Trading with Volume ProfileToday was yet another amazing trade off a long term volume profile level for over 50 points on the CME_MINI:ES1! S&P500 E-mini futures.
I want to document these trades as teachable moments because I think Volume Profile is an absolutely amazing tool that should be in ever trader's toolbox!
ES UpdateNot actively trading but took a look for my followers.
Indicators are not oversold yet, wait for one more drop if you plan to play the bounce. Be careful playing the dip though, AAPL could lose support and my favorite stock, PCAR, took a shit today.
S&P 500 E-Mini (ES_F) Needs Validation for the Next Leg HigherS&P 500 E-Mini Futures rallies in an impulse structure from 10.27.2023 low. Up from there, wave 1 ended at 4607.75 and pullback in wave 2 ended at 4548.75. The Index then extended higher in wave 3 towards 5333.5 as the 1 hour chart below shows. Pullback in wave 4 unfolded as a zigzag Elliott Wave s
ES afternoon updateBoy the market is moving fast. RSI already hit oversold.
Closed out my puts, going all cash for the weekend. If Iran doesn't do anything, we'll probably see another pump Monday, lol.
Crazy whipsaw market, pay attention to the channel I drew (unless Iran actually does something)
Market Recap: What A Great Pullback DayI think video, I covered an awesome pullback day. Where we could've entered, what the week looked like to me and what I expect next week without doing my weekend analysis.
ES UpdateLooks to me like it;s headed up for a day at least. PPI numbers were good.
Remember how I said yesterday that it'll be a much easier trade if teh market gaps down? The gap up sold off then the market bounced back. FDAX is oversold so went long but cashing out tomorrow.
ES UpdateExpecting indicators to go further oversold before a real bounce. You figure all the idiots that bought yesterday have to sell.
Also, I'm convinced the drop last week was because the numbers leaked out. How hard is it to bribe govt statisticians?
Was tempted to do a gap fill play on PCAR but w
The Pullback Has BegunFor the first time in 2024 the US Stock Market's S&P 500 has shown TWO bearish signs at once this week.
In any given year statistically one can expect 2 or 3 corrections of -5% to -10%. It is now month 4 of 2024 and we are due.
In this video I talk about the two signs (False Breakout Monday, Br
ES Daily UpdateI might play the bounce if we get a big gap down tomorrow with my 3hr chart going oversold, but I think the next big bounce doesn't happen until the daily indicators go oversold.
If you like to play it safe, and you don't watch the market on a daily basis, I suggest waiting a couple of weeks, maybe
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Frequently Asked Questions
The nearest expiration date for E-mini S&P 500 Futures (Mar 2014) is Mar 21, 2014.
The best time to sell a futures contract is when you've already made money on the investment, but still have plenty of time left before the expiration date. Thus, a good option would be to sell E-mini S&P 500 Futures (Mar 2014) before Mar 21, 2014.