Bullish count on left, bearish count on right. Lots of gymnastics on the left, but it is still just a series of impulse waves up, with key higher low pivots held. There are different ways to interpret these impulse waves collectively, and the one I have chosen would get one complete impulse wave off low of 4963.50 to happen the quickest. Key price support at...
The structure in the S&P 500 for the last couple of days is actually a neutral zone trade which implies a sideways move however the structure on Wednesday implies a bias for moved to the upside on Thursday.
Here are my levels for the week. Same notes as NQ. I have been really busy outside trading so I have not been able to post many updates. I continue to trade these levels a few hours every morning. Treat the levels as as support, resistance or targets. The market is currently trading in a large consolidation pattern with large daily ranges. The levels noted are the...
Although there was a strong move on Friday, a small positive up range is expected for Monday in the S&P 500.
Bull case on left, bear case on right. On the left, I think there are different ways to complete the move from 5333.50 to 4963.50, but for simplicity, I have just used a leading diagonal A, zigzag B, impulse wave C. From the low of 4963.50, it would appear that there are 4 distinct and overlapping impulse waves (with higher lows at 4991.25, 5022.25, and 5036.25),...
Can the buyers that appeared in the S&P 500 on Thursday continue its momentum up with a stronger close on Friday. This could be a challenge with the softer opening in the Asia session.
For ES1! bears, I'm looking at a double-three correction from low of 4963.50, with an expanded flat Y, to complete below 5194.25. For the flat, 3 is shorter than 1, so 5 needs to finish below 5194.25. As such, this count is invalid with price above 5194.25. Price is currently between .5 and .618 Fibonacci price points on the correction, so bears are definitely...
Watching UVIX break through its low of $8.37 this morning gives me confidence that market top is not in. The most bullish scenario now would see four separate impulse waves (in blue ellipses) since low of 4963.50. Pivots at 5022.25 and 5036.25 were both technical, bouncing off .618 fib levels. Bulls need to advance above 5200 with continued impulsive action, and...
On ES (S&P 500 Futures), it's nice to see a strong sell-off from the price of 5090 and 5128. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend...
Stocks have survived a standard Ichimoku cloud pullback and the bull run off Volume Profile support of 4979. Price has recovered up to the 50% Retracement (Kijun Sen) of the move down. 5148 = 50% Retracement Resistance and price this week is responding to it. The Volume Profile Resistance above it is 5167. These are the levels to conquer to resume the 2024...
Last weeks levels provided to be partly actionable and price has immediately responded (See attached post). Comfortable holding this 50% long position with stop/target untouched. Will be looking for opportunities to buy the other 50% and increase risk as I'm confident in the bullish sentiment after last weeks Feds statement. I hold an underlying belief that the...
Not overbought yet. Looks like Monday will be a pump and dump day. I guess I should have more faith in the market that they'll find a way to pump AAPL on bad earnings, lol. Not feeling very bullish because earnings didn't justify valuation, and my favorite stock, PCAR, is still dropping, lol.
IMPULSE AND CORRECTION: looking to catch a short trade at the mitigation of the 1hr time frame supply zone.
RSI hit oversold at close yesterday, MFI still oversold. Guessing we get a Powell pump this afternoon, but watch out for teh whipsaw
This video goes over tactics and strategies on how to trade on NFP day for ES and NQ.
I am bullish on NFP and expect prices to drift sideways the whole night up until 6-8am until 08:30 when NFP will release. It should dump down only for it to be bought back up and continue on to new highs. I will show the last NFP's and show how all of them were...
In this video we will demonstrate how to access the help center in TradingView with AMP Futures.