ES - Weekly Jimmy Balodimas 101

With ATH's being broken, the sky's the limit for ES1!

But with interest rates as high as they are, its only a matter of time before something gives! It's either we see the FED cut FEDFUNDS and stock index markets ABSOLUTELY ROCKET or.... interest rate spikes up one more time, inflicting MAX pain causing ES1! NQ1! YM1! in a downward spiral.

Monday was the creation of the weekly bullish order block with 3 consecutive bullish candles proceeding it to close out the week @ 5044 whole. Since ES1! is in new territory, the best method to gauge where to take profit or witness a likely rejection is by utilizing psychological numbers. In this case, 5050 is in the cards (which this weeks price action failed to penetrate) and 5100 (due to the algorithms liking round whole numbers) being up for grabs if we see a bullish continuation to the upside.

Solely analysing ES1! but not DXY ZB1! US10Y NQ1! YM1! GBPUSD EURUSD gives me a tunnelled vision in saying that I am 100% bullish on stock indexes as there is ALOT of economic uncertainty around the world at the moment and governmental policies that just are not sustainable over a long period of time. But I do foresee a short term decline in price back down to the 1-hourly zone located at 5032.50 with the chance to rip buyside's face off @5048.50

In this moment in time, I am bearish to the bullish hourly order block located between 5034 - 3031.25 but in the grand scheme of things, it could still be seen as a 'minor retracement' before the second leg to the upside.

Lookout for 5036.75....

My philosophy is simple...

Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.

This includes;

- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!

The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.

Credits;

- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN

Comment:

10:45, we witnessed a bullish run on buy stops during the US AM session with the peak being 5066.50. 14:15PM US session witnessed armageddon, eating intra-day sell stops alive.

More sell stops are in the cards, 5031.50 being #1

Comment:

We witnessed an absolute capitulation yesterday with the daily order block @ 4976 being ran on, which is over 500+ handles from the peak of Monday's trading.
If DXY is to continue its incline in price up to the weekly fair value gap @ 105.782, I can expect further capitulation to the next daily bullish order block located @ 4930.25.