Waiting for the CPI and PPI this week to drive the direction for the S&P 500. Although sellers came in on Friday and Monday, currently this market has a neutral opening with a bias to the upside.
Trading Plan for Thursday, May 16th, 2024 Market Sentiment: Bullish, but highly extended and statistically due for a significant pullback after 10 consecutive green days. Proceed with extreme caution and prioritize protecting gains. Key Supports Immediate Supports: 5308-10 (major) Major Supports: 5272 (major), 5253-56 (major), 5200-02 (major), 5145-50...
Today's trade plan will be very simple. I'm looking for a break and retest of 5300 for longs and shorts if it fails to sustain and break above 5300.
Going over Morning Price ACtion ES pre CPI. looking for clues as to how to trade the day. Not much to do till we get the CPI.
MFI went oversold and all we got was a gap fill, not even a dip. I guess they want to pump inflation numbers Wed morning, might day trade on the long side tomorrow.
ES moved up slowly last week on unusually low volume. It had been forming an ascending wedge, which would normally be bearish, but this time it broke out above. I'm skeptical of this move due to the volume, but as long as it can maintain above this wedge and/or 5200, I think a rally back into supply at 5300 is likely. We'll have to wait and see if that ends up...
Can the sellers that appeared in Friday session in the S&P 500 follow through to the downside on Monday or was the selling buyer selling to take profits before the weekend. Monday's price action will give us answers to these questions.
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...
Across the board on US Indices, Lots of sympathy for a major trend reversal, or a 2nd leg up. Good probability. Bit late on post.
The S&P 500 is my favorite market to trade however my strategy struggles when price enters All Time Highs by design. I tend to try and hold positions into ATH's and beyond but this recent uptrend has proven too aggressive for my entries (See attached ideas). Last weeks close is a very subtle clue about institutional intention to buy this market. My intuition says...
5/23 - The IPDA range can be used to track and anticipate the quarterly shifts in the market. as of today 5/23 the ES has made a new breaking the projected 40 60 day highs . It is reasonable to expect the markets to drop to the 20 40 60 day lows over the next 3 months.
It seems that due to the maintenance of conditions by the Federal Reserve, the possibility of further price reduction is possible
Maximizing Evaluation Account Success with MNQ Trading: A Live Session Review Welcome Traders! In today's post, I'm diving into the world of live trading on the Micro E-mini Nasdaq-100 Futures (MNQ) using the Smart Money Concept (SMC). I'll be reviewing a recent live trading session aimed at maximizing evaluation account funding opportunities. Whether you're new...
going over the price action overnight looking for clues to what the market is telling us. NVDA another blow out report. NVDA is the stud of 2024 for sure. focused on NVDA and the AI sector.
E-mini S&P (June) / E-mini NQ (June) S&P, yesterday’s close: Settled at 5328.00, down 17.25 NQ, yesterday’s close: Settled at 18,786.75, down 12.50 All eyes were on NVDA’s earnings report yesterday, but the E-mini NQ was already up more than 7% on the month. Despite that strength and a new record high, price action became stagnant in the week leading into this...
Scenario #2 in play from Daily PLAN: (LINK BELOW) Scenario 2: Neutral open if between 5340-5350. But if we open below 5334, then I think 5340-5350 may present resistance, if tested, for a target of 5316-5320. ES Trade Plan Inflection: 5331-5332 Upper lvls: 5345 / 5368 / 5377 Lower lvls: 5304 / 5292-5296 NQ Trade Plan Inflection: 18786 Upper lvls: 18812 /...
1. Introduction Backspreads are a versatile options strategy as they allow traders to benefit from significant moves in the underlying asset, particularly when there is an expectation of increased volatility. 2. Understanding Backspreads A backspread is an advanced options strategy involving the sale of a small number of options and the purchase of a larger...
Trading Plan for Wednesday, May 22nd, 2024 Market Sentiment: Bullish, consolidating within a tight range. Expecting a breakout, but with heightened anticipation due to Nvidia's upcoming earnings after the bell. Important Note: Nvidia earnings after the bell could significantly impact market direction and volatility. Be prepared for potentially large,...