WTF was that? LOL, Powell pump and dump in just one hour. I know I keep saying Fed days always whipsaw, but that was ridiculous. Futures up a little on QCOM earnings, Europe might bounce overnight, sold of hard this morning, more whipsaw. Anyways, it messed up the indicators, so no trading until things go overbought or oversold. Taking the rest of the week off.
This ES1 chart is the six + Europe and Asia trading sessions. this hasn't corrected properly in over a decade.... and this is what it looks like when they print trillions out of thin air, as "aid for Ukraine" which is then spent entirely on weapons or infrastructure supplied by our military industrial complex. we were warned about this shit. Orwell,...
Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major),...
Indicators are neutral but MFI rapidly approaching overbought. Quite frankly, I'm bearish on AAPL earnings this afternoon anyways
The video explains it all a lot better, but basically, we are sitting with higher highs and lower lows on the trend timeframes that brought us here (30m-4hr), otherwise known as the Pac-Man symbol. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5083 Uptrend (4/25/2024) Higher High 1Hr - 5083 Uptrend (4/25/2024) Higher High 2Hr - 5131...
Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034...
multiday short trade on sp500 . Tp at 4700 at the SP/VIX ratio, candle marked a bad bearish shadow, a hypothetical prelude to the formation of a bearish parallel channel. Possible index target 4700 points.
With the Fed making announcement on Wednesday, volatility would be expected in the S&P 500. A change in the feds attitude towards interest rates being high longer is not expected.
SP500 open with a gap down. going for a long position before it continues its trend downwards. Entry: 5052.25 Stop Loss: 5040.75 Depending on how movement is my first take profit is ( 5072.25 ) Full Take Profit: 5086.25
Mentioned this in the NQ post, ES is not oversold yet on RSI or MFI. Recommend waiting until tomorrow to buy the dip, though gap direction may depend on earnings. AMZN tonight, QCOMM tomorrow, AAPL on Thu afternoon.
In this video, we will discuss the potential targets for ES1!, NQ1!, and RTY1! in the upcoming week. The technical indicators I've used include Bollinger Bands (20,3), Beacon Indicator, 5-day SMA, and YTD AVWAP. The market environment has turned bullish again as I believe the short-term sell-off in market indexes is over. We are now back in bull mode, anticipating...
MFI overbought but RSI is not yet. Guessing pump and dump tomorrow, I'll wait.
While technical have us in the daily trigger zone for a another bearish leg, I think future contracts and overall market sentiment is set to consolidate. There is some confusion amongst investors but, with a bearish bias overall. A break and close below a previous day low will help technical to begin a second leg.
Here are my levels for this the coming week. ES had a sharp reversal last week bouncing 2.56% after trading down for 3 weeks in a row. Dispite the strong rally the risk of bearish continuation remains high. A rejection at the top of the red box could easily send price into a compound corrective move down to the 200 sma and the July 27th high. Much depends on the...
Since there was not going on much between the two days, I decided to combine the two days into one. Sorry for the delay overall but, we covered the trades I took and the setups ups I noticed in both days.
The S&P 500 is officially bearish as of Fridays close according to my intuition and strategy. I will be watching closely this week - targeting shorts around 5240. I expect to see a test the 5060-5000 level. A daily close above 5240 would be bullish and invalidates this idea. In the mid-term, I'm targeting key levels of interest to buy once this dip finds legs.
- 3 Failed tests on 4h timeframe - Price breakdown (hourly bear flag) - Price targets: 5226.75, 5153.75, trailing stop - Stop Loss: 5350 (break into ATHs)
- Strong rejection of a key level - Bearish structure formed at top of range - Possible exhausted bull run?