Slept in because I'm all cash, ES MFI is almost oversold, NQ is already there. RSI not moving much, so probably just more whipsaw, lol. Financials almost look like they're setting up for another dump. Based on indicators, we could see another short cap dump and tech rally tomorrow. Don't really see anything worth trading today, no idea which way the market...
Rising Yields Back In Focus With the banking chaos now a bit settled, the markets seem to be focusing back on Interest rates (and, hence inflation). The rising yields today seem to be holding back the markets. However, our models indicate the risk for the markets to spike to the upside rather than to the downside, owing to the potential for quarter-end window...
Hitting zones perfectly today! Added extra 5MIN and 15MIN. Same idea as yesterday.
this is mar 28, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
So I hope you enjoyed the calm. I ended up taking my ball and playing elsewhere. I had said I had a strong sell signal on the Nasdaq going into yesterday, and so even when we were up on the day, I went short, and made my entire weekly goal on the Nasdaq. Additionally, I have that Soybean trade from last week I had talked about, and that is up 40 points for another...
🖼 Daily Technical Picture 📈 ➤ A low volatility start to the week. NASDAQ underperformed while Russell 2000 small cap caught a bid. Price could not push through the short-term resistance level above 400 on the SPY. VIX keeps moving lower. ➤ I'm finally back in the action with a moderate short position. It's going to be a short stay, 1 or 2 days perhaps. It was...
ES and RTY MFI overbought, NQ is not there yet. So the question now is if RSI hits overbought before it dips or if we get a MFI selloff. Not really sure, but I dumped my GM and PTON calls, because I don't feel like losing money going long on garbage stocks, lol. Grabbed a few COIN puts to offset my PCAR long position. Sticking with that for now, staying light...
this is mar 27, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
So being how Friday ended I am not surprised we've seen some premarket momentum to carry that forward. I don't know that I see us exploding higher as the market opens today, but I wouldn't be surprised if we reach 4040 or so. I'm more expecting us to have a move back down towards 4000 shortly after the open, though I do expect today to be mostly a calm day with...
Having covered Gold & the Equity Index last week, this week we will look at how we could leverage both to trade on the move we’re watching! Quite a happening market we first covered Gold two weeks ago. Firstly, the interest rates market had a sizeable correction, with the 10Y-2Y yield now trading at close to -0.45% instead of the -1% range just 3 weeks ago....
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...