Quick charting of levels to watch for spooz going into the short holiday week. Many bulls were created end of day Friday with a late trend day developing, but the close left me wanting and prevented me from scaling in to longs just yet.
What to watch: personal preference is for 3783 to get tested and hold, then reverse toward 3880/3900 and maybe even 3950 if...
The Tick Dip-In implies the 3588 Monthly Pivot will be broken to the downside.
SPY Gaps including the breakaway Gap remain @ 338, 285, and 230.
I anticipate these levels will be filled into October 2023.
The 225 Level will ultimately give way to far lower.
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Long Term, the Structure and...
These boxed fractal patterns are amazingly similar. Will the outcome repeat to the downside?
Holiday trading can be especially erratic.... Happy Fourth!
note the broken down rising trendline resistance. Im expecting it to get tested and rejected hard with new lows mid July (13-14th), ideally we test 3500 and hold it.
The longer term target is 3209SPX now
Last weekend's review, it was expected that the S&P500 would follow through with a bullish week. Instead, it was quite the opposite, until the late part of Friday that the upticks started. This could have been attributed to the end of the quarter, half year sell-off by portfolio managers, just a possible consideration.
This week's price action was clearly not...
I am making a reasonable prediction of the month of July. I believe it will be a bullish month with the objective to retest the prior highs. I believe the market is pumping up and getting ready for another huge sell off down to at least 2500-3000 area. Of course, I most likely am wrong but to me this is what seems logical. Remember, manage your Risk and Manage...
good evening peoples ^^
the reaction we saw from my target today was not what i was looking for; pretty weak in my opinion.
might see continuation to the upside into friday, followed by a flush out post july 4th.
👇
if the range high is breached, es can potentially expand higher to anywhere between 4000~4070
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3550~3500 is my downside target if it drops next week.
MFI is precariously close to overbought even though the market is not gaining traction. When the algos hit the sell button after this next pump then we could see a big drop.
Like I said, no long positions until next week. No FOMO trades for me. These whipsaws are too hard to trade
This details my newly coined setup The Counteryeet :D
This morning my community and I were trading CME_MINI:ES1! futures on the 1 minute timeframe in line with the context of the broader higher timeframe price action.
For context, right now on the Daily the stock market is in a bearish trend. Price pulled back to an Ichimoku Kijun Sen which represents the 50%...
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On the exchange trading floor Thursdays and Fridays daily price action in the S&P 500 would be described from a market maker's point of view bouncy lows and a bouncy close. What is this represent? Are sellers from the last few days buying this market back before the holiday weekend? Has this market gotten cheap enough that buyers are willing to reenter this...
On S&P 500 is nice to see strong buying reaction from the price 3834 , there is nice to see strong volume area....
Where is lot of contract accumulated...
I thing that buyers from this area will be defend this long position...
and when the price come back to this area, strong buyers will be push up the market again...
Uptrend + Strong volume area is my mainly...
Much of the same trendlines. The 6-Hour Downtrend has shown it is a clear reversal signal at this point. So I'd just keep taking profit on downward movements to 3770 from the 3832-3815 range.
I explain I wouldn't really be bounce trading these, like I did between the previous 6-Hour Uptrend of 3892 and 12-Hour Uptrend Reversal Signal of 3927. The reason is...
Updated version includes additional checks with specific settings for the different moving averages. Added a catch all for short term positioning using 18 day lookback. Based off @exposurerisk work on Twitter.
Consider this post somewhat of a cautionary tale, one for the archives which will be re-opened once upon a time by any of those who seek.
This is a twelve year tale about a market which some would call out of control. Though, it has been structurally in tact and very algorithmic beyond my current ability to put into words.
Every single piece of data which has...
CME_MINI
