The S&P500 has completed 3 straight green weeks, the strongest 3 week rally since October 24th. As we zoom out on the 1W time frame where the technicals have just only turned marginally bullish (RSI = 55.603, MACD = 28.700, ADX = 34.959) we can see an attempt to form a Channel Up. The 1W RSI is slightly pulling downwards and since it started rising back in May,...
🖼 Daily Technical Picture 📈 ➤ Equities reversed course on Tuesday trade, however two aspects remain unchanged: 1) Nasdaq outperformed Russell 2000 2) Late buying into the close. ➤ Without that late buying, I would have taken a small short position to test out the waters, jumping straight back into the action. It was a close call. As it is, I will have wait to...
this is apr 04, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
So I move it during the video to show the decline in upward trajectory, but the Daily Uptrend has signaled, still a higher high, though less upward movement. The caveat to that is that the ES! contract got the Daily, NOT the ESM. However, the ESM doesn't have a previous Daily Uptrend connection to go off of, because it doesn't have the history to draw from (just...
🖼 Daily Technical Picture 📈 ➤ Equities continued their advance although it was the DJIA large caps that led the way. We haven't seen that for a while. ➤ S&P500 has hit the first resistance zone. I also got the exit signal to my long position. I guess that's a pretty good place to part from a solid profitable trade. ➤ If we observe some chart patterns,...
MFI now overbought for every index, but there's also a gap down from Sunday open. The assumption is that it will fill the gap then dip today and possibly into tomorrow. Probably buy the dip tomorrow, CPI next week. OPEC must still hate Biden though, lol. Oil up big, which pretty much means my rebound inflation scenario that I mentioned last week will happen.
this is apr 03, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
In this update we review the recent price action in the emini #SP500 futures contract and identify th enext high probability trading opportunities and price objectives to target
If we go up from here a reclaim of the box would be likely. If the box is flipped look for 4.25k-4.30k target. If rejected we could go down and retest the blue line support. NFA
S&P500 Index is trading in a rising channel on a daily. The price was approaching a solid resistance cluster on Thursday and Friday. The market managed to break that and successfully closed above. I believe that the Index may go higher this week. Next goal for buyers will be 4155 ❤️Please, support my work with like, thank you!❤️
Crazy move on Friday 3/31! Looking to see if we continue our momentum to the upside, or is ES going to relax and hit our demand zones? At the time of posting, we were in a large supply zone. We are currently right outside of it, but come market open, looking to see where the market wants to move!
MTF Long leading into a long term short position extreme link to BTC can see something almost exact to match Has scope to be various ew counts and the main 2 both have scope to hit the desired zone with multiple confluence's Would make sense in terms of seasonal pivot timing and line up nicely on multiple fib time pulls. also i can the inverse movements...
🖼 Daily Technical Picture 📈 ➤ The mid-March march in equities has neutralised the short-term down-trend. A higher high as been set. To move from neutral to an uptrend we need to see a subsequent higher low. That potential higher low could come swiftly. ➤ S&P500 is at key levels with 410 and 417 acting as resistance on the SPY. A correction in the price should...
ES1! SPX500USD 2023 APR 04 WEEK Market may be continued to be marked up. However, exercise caution as weekly bar may be showing a bull trap. Scenario Planning: 1) Possible short if 4175 is rejected 2) Continuation Long if 4082 // 4175 are supported Volume Analysis: Weekly: Low vol up bar close toward high = no commitment to higher prices, possible...
As always, when the market pumps the stock market, they also pump commodities. The commodity pump won't show up in PCE or CPI numbers until at least a month from now, so don't get too bearish too soon. We'll get the ES1! and NQ1! gap fill first. I see no rate hike in May then we get rebound inflation because of the market pump so another hike in July. That's...
RSI way overbought on the EOD pump. Probably some weakness Mon/Tue, but not gonna short anything until teh gap above fills and the daily goes overbought. Until then it's BTFD.
ES is headed for a gap fill, and RSI is headed for overbought again on the daily. I don't recommend shorting anything until the daily gets overbought. Remember, this is a pennant breakout, revised pennant target in green. I'm not quite that bullish though. My 3hr indicators don't work well during a melt up, so basic strategy is to buy the dips until ES daily...
MFI heading down fast but RSI is still going up which indicates a melt up on good CPE numbers. Even in a melt up, the time to buy is when MFI goes oversold. Probably happens Monday. At this point I might as well wait, lol. I should've been more bullish for CPE numbers but I expected a dip on German CPI and didn't get it. Oh well. I don;t recommend shorting...