I've said it a dozen times... remember that nothing annihilates a technical analysis like key Economic Data. So with that, at 2pm EST, it is the interest rate decision, though really I think it'll be the forward guidance that drives the market up or down. The last time we heard Jerome Powell talk (during his Congressional Hearing) he was rather Hawkish and...
- NASDAQ QQQ and SPY closed near resistance QQQ im looking at $311 daily time frame triple top. - FOMC 25BPS tomorrow 80% chance, need to see in Powell's speech if this is our last hike or we get a pause, also information on the banking situation too. - XLF is going to be key factor tomorrow for SPY's direction, went completely sideways today will break...
So I went short this morning at 4019 based on a MACD data plot on the ESM contracts. The buy zone on a data plot was 3948, and I feel like that really followed through into today, where my sell plot was to be at 4019. I had a short preset overnight and it struck early this morning. As far as trends, we are beginning to hit a lot of higher timeframe uptrends that...
I wanna make some breakfast so I'll keep the write up short. I'm out of the market at the moment, and my overall sentiment is very neutral. The ES! contract overaly has a bit of room for us to head further south, however the ESM contract has that anything towards 3900 is going to come back up. I'll be watching for the potential of both. Overall the market...
In this update we review the recent price action in the emini SP500 futures contract and identify potential action areas for the trading week ahead
So I had taken a small profit last night on 3997 short and then reengaged at 4000 where I had wanted to get in at to begin with. I had set an overnight cash out at 3968 based on the 1hr trendlines and while driving home today, totally forgot it was still set and it cashed me out of my short position for a profit of $1600. I'm not upset about it, but I likely would...
I don't have as much confidence in a direction today as I've had the last few days, sorry. No overnight trades for me and while I want to go Long here, I'm not so sure this is the area I want to try for a long position. Ultimately, with the money I've made the last 3 days, I think it might be a good day to sit out for me unless I see something of tremendous...
So I went short last night at 3961 believing that the late day surge was illogical. In fact, I didn't go on a tangent in the video, but many news articles said "Inflation is cooling and markets are surging". That is a downright lie, and why you need to understand Economic Data and find things yourself. CPI INCREASED from .4% to .5%, which isn't a major jump, but...
So, after crushing a $5000+ day yesterday I will unlikely trade into the CPI data this morning. Ultimately the market environment could certainly take us lower, but the market analysis says we have to go higher. Likely the cause of a massive volume day yesterday at nearly 3.5 million. Although, we are around 25 points higher this morning so far, so we could head...
3.14.23 This is the ES and I thought this would be one video, but I ran out of time and so this will be part one for the ES. I am okay with the video because it's a good overview Using the tools that I use, and now we can go to today's decisions and some of yesterday's decisions with just a little bit more time and hopefully a very short video.
So on Friday I went Long at the close of the day into the weekend. That netted a $2500 trade right away when things opened up into Sunday evening. I cashed out on that, and was pleasantly surprised to see all those gains given up overnight. I then went Long again when we briefly went into negative territory at 3894, and moved up with it slowly, where I was...
In this update we review the recent price action in the emini SP500 and identify the next high probability trade locations and price objectives to target
So while I exited a bit too early, my prediction came about yesterday, and here we are. With us being maxed out to the downtrend, except the 30m that just popped an uptrend, I've some concerns that we will have a technical bounce up to gather some of the higher timeframe trends before we decide if we go flat briefly and rally, or build strength to head...
So I had done a short trade based on some in the moment indicators we'd have a bit of a bounce at 13:00 EST yesterday and going even lower after. It was a safe trade that netted just over $1000. Not bad, considering I didn't expect to go short at all. Overall we are in the same basic picture today as yesterday. I'll be looking for a technical move up to a 30m or...
Not sure how the video ended up so long, probably because of the rambling on the Powell Testimony and the impact on the market, but here we are. The 4010 level stayed relevant so long that 4 trends in a row all landed on that mark even though they ended at different times. I wouldn't be surprised if we briefly revisit that level before we head further south. The...
The rally I had expected showed up, and now I feel it is time to have a cooling off moment before it decides where we head to next. In order to save a lot of time, I've removed the trend lines I usually maintain, because it takes a while to have to draw them out, and just went with the major one that is in focus, and listing all the trends in the box. Ultimately...
In this update we review the recent price action in the emini Sp500 futures contract and identify the action areas for the week ahead and price objectives to target
So, we absolutely struck my target zone of 3913-3930 yesterday. I waited for confirmation we'd spin around, and went long at 3945. As I said I cashed that out at 3988 just because I didn't want to hold into the close. That provided a 2 hour lower high uptrend mark, and I waited to see if we would cross that later once things opened back up, and got long yesterday...