CME_MINI:ESH2023 As we come out of Asian lunch hour, the ES eMini futures continue its downward projectory after a mild retracement towards the end of NY session. Be careful as we head into Friday, into a 3 day weekend for the USA. Trade well...
Didn't get what I wanted to see today, that's trading for you. The possibility that we keep grinding higher for a week or more is certainly viable after today. Above we have the following - daily BB at 4190, Weekly BB at 4180, 100 weekly ma at 4215 and Monthly 18/20 at 4190 and 4210 respectfully. Some stocks like Tesla and AAPL seem to want to go higher after...
Market pulled back today and many feeds were filled with Bears and Doomsday callers ... Is this the start of a massive down leg or just a technical pullback ? Bear trap or will Put holders be rewarded ? Time will tell.. CPI next week so anyone's guess . Personally I'm waiting for more resolution and confirmation before trading this spot as it could go...
Here is a futures review of the 16th of February for ES. Saw some nice setups and made some decent money today if I had to say so myself. Just overall a nice day and we will keep moving on!
CME_MINI:ESH2023 Short scalp on the pre/post USA inflation report release. Trade well...
Are you following my SPY Cycle Patterns yet? If not, here is a list of the SPY Cycle Patterns for this week and beyond... 2/6/2023 2/7/2023 Inside-Breakaway 2/8/2023 Harami-Inside 2/9/2023 CRUSH 2/10/2023 GAP Potential 2/11/2023 GAP...
Wednesday 2.15.23 : Yesterday after CPI it looked like we could get our continuation lower after we took out 4123-19 Support but we failed to even tag 4103-4099 Key area for entrance back into T2 range where short covering came in and gave us a push back over 4143-37 telling us there is still good Daily Support in that area but the move higher failed to...
Monday 2.13.23 Review: Sunday Globex pushed the market over our 4103 Resistance opened above it and we got a long move towards our supply area which is telling us there are still buyers at the cost basis at 4084-77 but even with both attempts over 4143-37 Resistance weren't as strong and didn't give much continuation or rejection, which so far tells us that...
Just a couple notes going into the next 24-48 hours. It's likely we move up into 4250 (ES, not SPX) in the next day or two before we start a decline. Watch for a 5 wave pattern down and expect that may be the beginning of a larger decline and catch the 3 wave pullback. Keeping it simple today. Market opens soon. Trade carefully! Cheers!
So we are hitting a 2hr uptrend right here at 4114. This is going to be a lower high 2hr uptrend. We have already had a lower high 30m and 1hr uptrend signal also. Having cashed out on my last trade, I might look at anything around the 2hr uptrend if it closes up here and causes that signal, as a short position. However, I am also aware that tomorrow is CPI data....
CME_MINI:MESH2023 CME_MINI:ESH2023 Will today’s bull run continue through the CPI release? If you missed the runaway bull entry during NY session earlier today, you may get your chance with the anticipated price action to the CPI release on Tuesday NY 8:30am est GMT-5 When in doubt, cash on the sidelines, might be the better play, trade well….
Thursday 2.09.23 Review: Globex made a move over 4143-37 Resistance into next resistance at 4168-62 where we failed to hold and once RTH opened we corrected inventory back under 4143-37 and held under giving us a signal for short trade towards lower support targets 4123-19 // 4103-4099 // 4084-77. The way the day started was thinking that there is a chance...
So I'm sitting short from 4150 and still holding to see things go lower. Quick tidbit, the overnight plunge was likely spurred in some part by Russia reducing oil production by 500,000 barrels a day as punishment for sanctions. This is why oil prices spiked overnight also, although they've fallen back to under 1% (they were over 2% for a bit there). In terms of...
For those of you reading this who trade the ES futures market I have a question. How’s that choppy price action treating you? It’s hard trading chop. However, to those of us who analyze price action, it’s a big clue. It represents indecision in markets. The age-old battle of fear and greed tugging and pushing against each other. Chop usually reconciles in...
Now that we are at the top of the symmetrical triangle, I will expect prices to fall probably back down to the bottom triangle 3700-3800. I still hold in my belief that July will break the apex of the triangle and in the mean time we are range bound. Here is a now updated post on the Russel 2000 that played out perfectly as I planned. Compare it to the post...
Previous Day: Globex built out structure over 4168-62 but did not have enough buyers to get us to our Key Resistance area for the day and once the structure broke under 68-62 we got our move lower in RTH down to 4143-37 which broke easily and opened the door for lower targets and a bigger sell off but instead it took us half a day to pull back and take...