ES1! SPX500USD 2023 MAR 27
I won't be trading till the new month starts.
Keep profits and rest if target has been reached, and also
chart is messy at the moment.
Can't imagine a new quarter is starting soon!
Scenario Planning:
1) Possible short if market tests previous rotation area
(grey box)
Volume Analysis:
Weekly: Ave vol up bar close off high = possible...
With the news of SVB about to collapse, the markets started to move into safe havens and the stock markets started moving down. Now the question is, has the move down we've witnessed been the X wave of a larger B wave which should terminate around 4300 (as illustrated in our green count). Or is this the minor wave 1 of intermediate wave 3 which should result in a...
🖼 Daily Technical Picture 📈
➤ The week ended positively for equities with brisk late buying on Friday trade. The exact opposite of the late strong sell-off on Wednesday just on a smaller scale. That sell-off remains the dominant feature.
➤ With the exception of Tech and perhaps day trading, it was pretty choppy everywhere else for generating returns. Somewhat...
The S&P500 on the 1W time frame remains technically neutral (RSI = 51.005, MACD = 10.190, ADX = 35.849). Large reason why it has done so is because it has been ranging between the 1W MA100 and 1W MA200 for 22 weeks (154 days). That is a significant period that isn't that indicative of a bottom formation. There is still a large portion (could even be the majority)...
MFI almost oversold as I predicted after the Fed meeting. Not sure why I traded yesterday, lol, I should have waited for this drop I predicted then.
Anyways, I had today as a reversal day, not sure how much of a drop or dip we get after open. Look at AAPL premarket and it's only down 35 cents. XLF is down more than 1% though.
Guess the EOD pump yesterday was...
I think this is going to be the last opportunity for the algos to fill the gap on ES and NQ before March CPI is released April 12th. Overlay is the highlighted January rally.
I'm not convinced at all that the Fed has inflation under control, March CPI data will dictate which way the market goes from there.
Also, I want to remind everyone that I suck at long...
First off, I just want to say... My 6E (Euro/USD) call was my money maker this morning. I didn't go in overnight, but when I woke up I immediately saw the draw down in the 6E and hopped in. I made about $800 off that, and got out, though I think it could definitely be headed for some more downward movement.
However, the S&P Futures is my bread and butter, so I...
When Bank Safes Don't Feel Safe Anymore...
Not just U.S. regional banks, but CreditSuisse the other day and now Deutsche Bank...investors seem to be wondering if they can feel safe with their banks, and that could lead to them first selling and then asking questions. So far, there doesn't seem to be much of a panic on the markets...yet.
As we wrote in our...
S&P500 Index is trading in a bearish trend.
Once, the price set the last low on a daily, a correctional movement started.
The market was steadily growing within a bearish flag pattern.
To catch a bearish continuation, wait for a bearish breakout of the support of the flag.
If the price breaks and closes below that on a daily,
a bearish continuation will be...
My previous post is of NQM2023. This is the ES1! chart.
Day 7 of posting charts on Trading View's free plan.
Lots of overlapping zones, just learned that this is a strong concept and will start to apply it.
You will find these new additions as white texts on the white lines (text is on far right of chart).
Day 7 of posting charts on Trading View's free plan.
Interesting place with the 15M hidden zone/basing candle. Looking to see if we reject or break through this area.
Bulls and Bears played WELL today!
Check out my YT to follow my trading journey!
One thing I forgot to mention on the video was the low volume from yesterday. FOMC decision days tend to have a higher volume than 1.7 million. That has also left me a bit cautious the downward move may not stick. If it is going to stick, I'd expect some continued downward motion with higher volume and more conviction.
Overall, trends on the 1hr/2hr are calling...
🖼 Daily Technical Picture 📈
➤ I'm not a day trader but it's a perfect market environment to be one. Volatility is just at the right level where prices swing/trend but are constrained in a range. Today was a perfect example.
➤ Equity prices swung up and down and finished slightly positive. Once again NASDAQ outperformed and the regional bank heavy Russell 2000...
I guess this morning was just yet another headfake, lol.
Looks like they shut the small cap algos off, things look bearish but hard to tell where this whipsaw market is going. Staying cash until MFI goes oversold. tried to go long this morning but everything hit my trailing stop when Euro markets closed. Made a little beer money, lol.
The S&P500 (SPX) hit today the 4H MA50 (blue trend-line) again and the Higher Lows since the March 13 bottom. That was a bottom on the 5-month Channel Up and the best buy opportunity on a 1 month time-frame.
With the 4H RSI sequence similar to the Higher Lows of the previous bullish leg in late December/ early January, we see SPX attempting to price the new Low....
Hello traders! In previous posts we explained how we believed the last leg up from October's low in the SP to be a primary corrective wave (B) to the upside on overconfidence about the soft landing narrative and FED policies. You can see from this daily chart how low were volumes during this last period.
We were expecting the target of this upside movement to be...
Collateral Damage or Covert Help?
(after being stuck in an indeterminate state, our models are out today with their trading plans for the day)
The banking meltdown seems to be the collateral damage from the Fed's battle with inflation. Chair Powell tried his best to be balanced in his press conference post-FOMC yesterday, trying to indicate his preparedness to...
