Today the S&P500 (ES1!) is trading at 4124.
Yesterday, at the market opening, we saw the index rise and then further stabilize with high volatility, which I mentioned to you earlier. However, the volatility was higher than I expected, but that doesn’t change anything. Currently, the market has all the chances to continue a sharp upward surge, with the key level...
🖼 Daily Technical Picture 📈
➤ Equities failed to take advantage of the early bullish mood. Prices ended weakly for a solid down day.
➤ Yesterday I talked about the current state of the market and it being in a short-term consolidation phase. This is a situation where prices move up and down within a range treading water prior to breaking out higher or lower....
On a today's live stream, we discussed Dow Jones Index.
We spotted an inside bar formation, being formed on a key daily structure resistance
and a confirmed bullish violation of the upper boundary of the range of the mother's bar.
It is a very important bullish clue.
Probabilities will be high that the Index will keep growing.
The next goal for buyers will be...
This AM market rallied substantially based on CPI numbers.
Traders might fade that rally during RTH session.
Level to watch 4162 --- 4164
Reports to watch:
US:EIA Petroleum Status Report
10:30 AM ET
US:FOMC Minutes
2:00 PM ET
ES - We heading to key resistance....
Can we break above 4170 and go towards 4200 areas?
Highs: 4170 - Lows: 4100
Pattern - Wedge up side target areas 4200 areas...
We just had CPI as we have dollar declining stocks rising higher time will tell...
Trade your own trade plan!!
Trade Journal
So I cashed out my Long yesterday at 4150. Took it as a bonus that I made my weekly goal already. Due to that, I will be sitting out going into the CPI data.
Volume remains ultra low, prices remain fairly stagnant, and trends still seem to be maxed out at least calling for some downward movement.
I'm attempting to remain open minded to a long position, even...
Hey Traders,
This post comes PRE CPI data and FOMC minutes later today.
Identifying key areas before news comes out allows you to pre plan risk and pre plan orders.
This is done by identifying where traders are positioned in the market.
Watch for more.
🖼 Daily Technical Picture 📈
➤ A dull Tuesday for equities. There was nothing in the price action of importance. All eyes on Wednesday inflation day.
➤ Yesterday, a reader made the same comment about the low volume Easter Monday trade. I pretty much agree with that statement. Individually, each trading day may in itself have no particular bearing but together...
The S&P500 gives a very clear impression as to what the situation is on the 1W timeframe. Despite the recovery early this year with the index crossing above the 1 year LH trendline, thus getting out of the Bear Cycle, the 1W technicals are basically neutral (RSI = 56.583, MACD = 37.340, ADX = 36.258). A big part of it is because the index has been ranging inside...
Good morning! 🌞
Shared this larger projection last year; and we're still gradually grinding in this Wave B.
Wave B's, aka "sucker's rallies," are notorious for luring in average suckers.
Don't be one! 😄
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SPY wave B target = 454 🎯
SPY wave C target = 300- 🎯
original idea:
✌
The chart above shows the S&P 500 (SPX) relative to the price of the 10-year U.S. Treasury bond (1/US10Y). As you can see, when adjusted in this way, the S&P 500's decline in 2022 is no longer apparent. This could be a warning that further stock market decline is to come.
Let's walk through why this may be. First, it is important to understand that an interest...
Exuberant Pumping-up to Settle Back Into Reality? Day 7
In our trading plans published 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 be...
So, while I'm actually Long at the moment from 4120, I still see the market heading south here shortly. I think the lack of volume has caused a delay in the corrective action I'm looking for.
I took the Long based on my "Long Position" from yesterday, where I reversed my short into a Long to see if I can skim off the top. I still have numerous indicators and...
🖼 Daily Technical Picture 📈
➤ Equities recovered (again) from an ugly start on Easter Monday. While half of the world were still on holidays, equities gradually fell prior to US market open only for the Bulls to come in to support the price at the critical levels. By the end of days' trade, the S&P500 made a round trip back to where it settled prior to the...
Top of mind for investors and traders right now is whether or not the S&P 500 has reached its bottom. While this is an impossible question to answer and depends on which timeframe one is looking for a bottom, I will attempt to provide an general analysis below.
First, the chart above is a quarterly chart (each candle represents a 3-month period) of the S&P 500....
