Great, expected stagnant day in ES today, as with all these holiday freebie days (for anyone trading futures over the long weekend).
We hit no targets, as expected, we just straddled ES's predicted close line.
Going into tomorrow, I don't expect anything overly dramatic, but there will be buying and selling (obviously).
Probability is equal for both Bull Target 1 (3970) and Bear Target 1 (3900), and I expect to probably see both. I am targeting whichever is rejected first for a bounce or sell.
Also notice there is some ascending support below which could trigger a larger bounce. However, there is a higher prob of PL2 than PH2, so keep this in mind.
Otherwise, this is really it, just sharing my intra-day targets and plan.
I decided against posting an analysis on SPY today in favour of just sharing my day trade targets as we all know where SPY/ES is heading and I don't want to just be another one stating the obvious :-). But if I notice anything overly interesting, I will update accordingly.
I also plan to do a full review of my time series modelling on SPY and just give a status update of where we stand now and what timelines we can expect for major price targets. That is a huge job though, so expect that to follow probably later in the week.
Anyway, that is it!
Trade safe everyone and take care!
We hit no targets, as expected, we just straddled ES's predicted close line.
Going into tomorrow, I don't expect anything overly dramatic, but there will be buying and selling (obviously).
Probability is equal for both Bull Target 1 (3970) and Bear Target 1 (3900), and I expect to probably see both. I am targeting whichever is rejected first for a bounce or sell.
Also notice there is some ascending support below which could trigger a larger bounce. However, there is a higher prob of PL2 than PH2, so keep this in mind.
Otherwise, this is really it, just sharing my intra-day targets and plan.
I decided against posting an analysis on SPY today in favour of just sharing my day trade targets as we all know where SPY/ES is heading and I don't want to just be another one stating the obvious :-). But if I notice anything overly interesting, I will update accordingly.
I also plan to do a full review of my time series modelling on SPY and just give a status update of where we stand now and what timelines we can expect for major price targets. That is a huge job though, so expect that to follow probably later in the week.
Anyway, that is it!
Trade safe everyone and take care!
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