RTY and NQ are close to oversold on MFI but ES is not. Not sure if we need to wait until ES goes oversold tomorrow or if the market bounces when NQ and RTY go oversold. hate it when my indicators don;t line up, lol. Eitehr way, I'm bearish for the open tomorrow, guess I'll decide when Euro markets close. If ES MFI goes oversold then I'm def going long on...
🖼 Daily Technical Picture 📈 ➤ S&P500 has found it's footing once again at the minor support level at the 6 March high after threatening to fall off the edge. It was a clear case of risk-off mode today with DJIA blue chips supported and NASDAQ, RUSSELL 2000 sold-off. Still, there wasn't really much damage done to the bullish narrative. ➤ A lot is happening in...
So there you go.... MFI for every index touching oversold now. FDAX is not quite there, and I think things head a little further into oversold. Usual gameplan is to buy here, but I'm not quite sure. A little sick today so staying out and getting some sleep.
So we got some initial down movement yesterday that finally challenged this massive upward movements on low volume the last few days. This provided a 30m/1hr/2hr downtrend. I'd expect the price action to recover briefly from here even if we are heading lower. It should be noted that yesterday's down movement was high in volume either. JOLTs data came in below...
Exuberant Pumping-up to Settle Back Into Reality? Day 2 In our trading plans published yesterday, Tue. 04/04, we wrote: "With the quarter-end window dressing, and the new month beginning related artificial/seasonal boost to the markets behind us, the reality of the economy, inflation, and the interest rates soon to be driving the markets again. Whether it would...
this is apr 05, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend es/nq again not synchronizing
Morning thoughts! Going to be looking at fading extremes this morning unless we break and hold respected range swings. Also looking at taking shorts from above liquidity boxes. Looking at a long option if we test low range liquidity and give a good reversal signal. Let me know what you guys think. Have a good session!
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!