Introduction:
💬 Tech has been in a non-stop uptrend within an uptrend channel as seen on this NASDAQ (NAS100USD) chart. While COVID has been rough in general for traditional businesses and the dollar, tech has had the unique fortune of benefiting from the recent stimulus fueled low-rate lockdown. With this strength in mind, and with top sector companies like...
Last three RTH sessions trading range was smaller then previous day, which might be an indication of a pullback is imminent.
However, a test of ETH High could set the direction for the day.
Level to watch 3300 --- 3302
Report to be aware:
US:EIA Natural Gas Report
10:30 AM ET
This is the ES at the 4 hour view.
The ES has been in a multi-day ascending wedge for the past 6 trading days. Ascending wedge end in two ways.
1) Blow off top pattern - The price can skyrocket temporarily, plateau, then fall rapidly. This is the more volatile and profitable scenario. If it chooses this direction, then you can easily scalp the rise then scalp...
Same overlay as before, MFI touched overbought this afternoon, so probably get a dip Wed and/or Thu, then a melt up.
Seems like that's the weekly pattern anyways. Not much happening with futures, up couple of points.
Good night everyone, see ya tomorrow. (I'm on west coast time.)
Hey, guys.
I hope you're all right today.
From my analysis of the statement I see that ES1! It will rise at this moment or in the next minutes.
By the way, if anyone wants to hlelp with market analysis, I'm on duty.
Overnight session market has continued its rally after making a double bottom during yesterday's RTH session.
Any test of ETH Highs should provide some idea for the day. Also need to keep and eye on yesterday's Close.
Level to watch 3319 --- 3317
Reports to be aware:
US:PMI Services Index
9:45 AM ET
US:ISM Non-Manufacturing Index
10:00 AM ET
US:EIA...
ES E-mini S&P 500 breaks another critical level at 3296.25.
The automated critical support and resistance indicator still track prices around major price points.
The Index broke through 3276.25 resistance as highlighted in my previous post, and made a couple of attempts at 3296.25 before breaking and closing Tuesday's session above this critical level.
The...
Since March 23, 2020, a massive bull run in the S&P500 and other equity markets had beholden the masses, shocked the institutional and professionals.
Thing is, I noted a particular pattern or two here, as in the chart. First, there is a confluence of a pitchfork channel resistance and the regular horizontal resistance that maybe strong enough to stop the waning...
Overnight session market has struggled to continue its rally.
If ETH test fails and closes the gap from yesterday, then we might see a pullback.
Need to see a test of ETH High.
Level to watch 3273 --- 3271
Reports to be aware :
US:Factory Orders
10:00 AM ET
Whelp, third time was the charm. That red line was a historical resistance for the ES.
Looks like I was right. The historical resistance at the ES would not hold for a third time. The market has a destination. That gap at 3330 from February is a good start. I would not be surprised if we get a new all-time high due to inflation and FOMOing.
People blame the...
NQ is overbought with MFI divergence, but I think ES just has to fill that gap above at this point. No short positions until it does.
Long on SMSI for earnings, otherwise all cash. Going easy on the market this week so I can get other stuff done.
Please Support this Idea with LIKE if it is Useful....
S&P500
The price is above key support/resistance level ,after a pullback If price continue to hold the Support then there is a chance that price might continue to grow,wait for the price to make a pullback and if price gives bullish signal and look for buy opportunity..
For Entry:
Wait for the...
will open on a gap up to the very top of the current multi days bigger range. The top of this range I my mind is the boundary to ES ATH so will watch that around 3286. We also have a smaller time frame lower range that has support at 3270 area this I also will be watching and will target 3250 if we can get back into this lower range. I however have my doubts we...
The rate of SNP at which recovered since the bottom on March 23rd 2020 is regressing into a logarithmic recovery (see blue line), which is similar to the bottom of December 2018, although not as steep as 2020.
In 2018 the recovery stopped when we reached the previous high around $2,940, then we saw a a fibonacci retracement to the second level ~$2,726 .
If this...
