S&P500 (SPX) made a yearly High last week and a Higher High on the Channel Up pattern that started on the October 13 2022 market bottom and guided the market out of the 2022 Bear Cycle. This Higher High opens up two sell possibilities one on the short and one on the medium term. The short term indicates that a Megaphone pattern similar to April 04 - May 04 is...
Take advantage of the stock sell off in Europe today to join the long trend. The 50% halfway back long traded today during London's late morning. Initiate a long position and/or add to your longs here. SL is the 70% line.
For Tuesday, 4373.25 can contain selling through next week, and once tested the 4568.25 formation attainable again within 3 - 5 weeks, able to contain weekly buying pressures and the point to settle above for yielding the more meaningful 4639.75 within 3 - 5 more days, able to contain buying through August activity. Downside Tuesday, a settlement below...
S&P 500 INDEX MODEL TRADING PLANS for MON. 07/10 Markets seem to be searching for a direction, getting ready for the earnings season to kick off later this week. If early earnings show any unexpected weakness ("unexpected" is the key word there), then we might have seen an interim top; but, if the earnings appear to be on track or with a bias to the upside...
S&P500 is so far on a flat 1day candle after a series of 3 red. That keeps the price inside a Channel Up since March 13th and of course inside the longer term Channel Up since the October 13th market bottom. The index should seek support on the 1day MA50 as it has done since March 30th, so that's a short term sell opportunity to 4330. Consequently that will be...
Day Trade Market Condition jul 10, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
S&P500 has a 3 day bearish streak. Both medium and long term patterns are Channel Ups. The medium term has the MA50 (1d) as the Rising Support and the long term the MA200 (1d). At the moment, it seems that a Megaphone consolidation such as April-May is in order. Trading Plan: 1. Sell on the current market price. 2. Buy at 4310 (bottom of the medium term Channel...
The 4562.75 formation can contain weekly buying pressures, possibly through July trade, once tested 4316.25 attainable over the following 3 - 5 weeks, where the market can bottom out on a monthly basis. A daily settlement below 4262.25 signals 4187.75 within several weeks, long-term support able to contain selling through the balance of the year and above...
Market about to enter a new Bull Cycle. See my chart. We are bouncing off the wave that I have displayed. I circled all market bottoms in the past years since 2010.
Day Trade Market Condition jul 07, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend
S&P 500 INDEX MODEL TRADING PLANS for FRI. 07/07 The divergence between yesterday's ADP payrolls numbers and this morning's Non-Farm Payrolls numbers is giving the optimists on the markets dreams of the Goldilocks scenario (aka "soft landing" or "softish landing") to unfold, while the pessimists on the markets are fretting over potential slowdown and the 'R'...
For Friday, 4385.00 represents a narrowing zone of support under 4372.25 able to contain selling through next week, and above which 4557.50 remains a 1 - 2 week target able to contain weekly buying pressures. Closing above 4557.50 signals 4624.50 within 3 - 5 days, able to contain buying through July, and the formation settle above for yielding the 4808.25...
Day Trade Market Condition jul 06, 2023 levels for NQ ES CL BTC watch the table left side for trade, right side for trend note to es/nq drop level number 4462/15271
S&P 500 INDEX MODEL TRADING PLANS for THU. 07/06 The FOMC meeting minutes released yesterday, and the ADP jobs numbers this morning, and the consistent Fed speak...all point to more interest rate hikes (albeit at a slower pace) ahead and the rising yields are showing that the bond markets are bracing for that scenario. While the equity markets seem oblivious to...
Hey all! Made a quick video to look at the market and just check in. I'm still enjoying my self made vacation and taking time away from the market while I think it is overinflated, as I want to see some normality come back in before I feel comfortable trading again. However, just wanted to say hello, explain what I'm waiting for, and wish everyone else best of...
For Thursday, 4393.25 can contain weekly selling pressures, above which 4552.25 remains a weekly target able to contain weekly buying pressures. Closing above 4552.25 signals 4624.50 within 3 - 5 days, able to contain buying through July, and the formation settle above for yielding the 4808.25 longer-term objective by the end of August or sooner....
The chart above shows the 20-month EMA of the spread between the contract in front and the second contract in front for S&P 500 futures CME_MINI:ES1! It continues to explode, and this is a bad sign. Since S&P 500 futures pricing includes the risk-free interest rate, the spread between the two contracts gives insight into the market's expectations about...
S&P 500 INDEX MODEL TRADING PLANS for WED. 07/05 Our trading plans published on Friday, 06/30 stated: "Cover any open shorts and avoid going short - next week's holiday-shortened week could add more spikes to the upside to hit any stops on the shorts". Unless something significantly changes in the FOMC meeting minutes due for release this afternoon, markets...