it looks like spy is going to set a new higher higher higher close soon. the price has recently broken above the resistance line of the ascending triangle formation. the breakout is considered to be confirmed now. next goal for buyers is 3413 level. it is based on a long wick of 6th August candle. because the market is trading on daily highs, I would suggest...
Market has been trading within a range during overnight session. Any test of Friday's Highs could set direction for the day. Level to watch 3375 --- 3373
S&P500 touches all time highs and looks like it could have a drawback on the weekly MACD.
SPX Next week expected move = $64. A very strange week last week. Nasdaq mega-caps rotated into Small-cap value. This is due to a short squeeze in the Most-shorted index, not a cyclical rebound. Seeing $VVIX upward movement this week alongside the $SPY. This is a huge Divergence . I said keep a lookout for divergences. This week was full of 'em. 30-year...
if it can hold 3370.00 then it may retest the high of day at 3380.50. lets see.
Probability: 65% market will keep going up Yellow line: Resistance , if the candle cut it with Force => Stop loss Green line: Take profit and if the green candle cut it with force you can wait and take profit when u see a red candle with a wick above it.
Yesterday market rallied and sold off then found resistance at Fibonacci 50% level, overnight session pattern seems to be about the same. Would like to see a test of yesterday's RTH session Low again today. Level to watch 3355 --- 3357 Reports to be aware: US:Business Inventories 10:00 AM ET US:Consumer Sentiment 10:00 AM ET
📍 The best move, since the highs are defended from the earlier developments is not really to get into the heart of the issue. Rather we need to discuss the configuration and how to build the trade around the freefall. LYV (Live Nation Entertainment, Inc.) is particularly exposed to pockets of further lockdowns which we are already starting to see in some states....
💬 The SPY (ES1!) and DJI (YM1!) are both approaching resistance according to their futures contracts charts (ES1! And YM1!). Do we get a pullback here, or does the Dow retest its previous top while the other indexes run? We think both moves are in the cards. Given that, let's look at some support and resistance levels to get a sense of what might come next. Hit...
Probability: 65% Blue line: take profit (manually) and i can wait until the next signal that let me to TP Stop loss: manually ( i don't use a SL) Now, the ES1 s in a trading range.
Market has been trading in a range during overnight session. A test of ETH High should set direction for the day. Level to watch 3364 --- 3362 Report to be aware: US:EIA Natural Gas Report 10:30 AM ET
I've been following ES1 the futures pair for the S&P500 for a while now, looking closely we see a well-defined channel its been pushing up in since the March lows. We have closed the gap from February and managed to hold as support for the last few days. This tells me it may have the strength to continue pushing towards the R1 yearly pivot and challenge the...
ES at the 8 hour view. The ES pulled back and revealed that's it's in a bigger ascending wedge now. Ascending wedges are usually bearish after they break. That said, liquidity levels are high enough to go surfing in. What does this mean? It's going to be a slow grind up to the end of the wedge for the next week. The projected date for the wedge to break is...
THE ES1 WILL KEEP GOING UP The blue line : u can use it as a Stop loss ( Manually ). Target: 3368.5 Probability: 65%
Yesterday afternoon market sold off aggressively and found support at LOD of two day's prior and Closed at day before LOD. Therefore, sellers are probably being aggressive. Any test of Fibonacci 50% level from yesterday's RTH session should give indication for the day. Level to watch 3325 --- 3327 Report to be aware: US:EIA Petroleum Status Report 10:30 AM ET
S&P 500 E-Mini Futures failed to reach 3400.00 and now retreats to around 3306.384 major support levels. The index needs to hold above 3306.384 to have another crack at 3400.00.