Last weeks levels provided to be partly actionable and price has immediately responded (See attached post). Comfortable holding this 50% long position with stop/target untouched. Will be looking for opportunities to buy the other 50% and increase risk as I'm confident in the bullish sentiment after last weeks Feds statement. I hold an underlying belief that the...
With the Fed making announcement on Wednesday, volatility would be expected in the S&P 500. A change in the feds attitude towards interest rates being high longer is not expected.
This video goes over tactics and strategies on how to trade on NFP day for ES and NQ.
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.
Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major),...
After the volatility seen on Wednesday in the S&P 500, the expectation is that Thursday will be a day for the market to catch its breath before labor numbers come out on Friday. This means trading inside Wednesday's range on Thursday.
Here are my levels for this the coming week. ES had a sharp reversal last week bouncing 2.56% after trading down for 3 weeks in a row. Dispite the strong rally the risk of bearish continuation remains high. A rejection at the top of the red box could easily send price into a compound corrective move down to the 200 sma and the July 27th high. Much depends on 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...
IMPULSE AND CORRECTION: looking to catch a short trade at the mitigation of the 1hr time frame supply zone.
Trading Plan for Thursday, May 2nd, 2024 Market Sentiment: Uncertain, with bulls holding a precarious position at a critical support level. Key Supports Immediate Supports: 5048-50 (major - note that this trendline rises daily), 5032, 5028 (major) Major Supports: 5010 (major), 4968 (major), 4938-42 (major) Key Resistances Near-term Resistance: 5077-82...
On ES (S&P 500 Futures), it's nice to see a strong sell-off from the price of 5090 and 5128. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend...
Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034...
This ES1 chart is the six + Europe and Asia trading sessions. this hasn't corrected properly in over a decade.... and this is what it looks like when they print trillions out of thin air, as "aid for Ukraine" which is then spent entirely on weapons or infrastructure supplied by our military industrial complex. we were warned about this shit. Orwell,...
Can the buyers that appeared in the S&P 500 on Thursday continue its momentum up with a stronger close on Friday. This could be a challenge with the softer opening in the Asia session.
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...
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.
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.