Going over the Price action ES Morning session looking for clues as to how we could have traded it better. spending the time to reflect so we can gain Wisdom. Do the Hard Work. Pain + Reflection = Wisdom
Got stupid overbought and only a small dip today. I'll just wait it out and see if it cycles to oversold. Decided to relocate so I've been busy trying to finish up projects at home. Don't really have time to watch the market.
Last Week : Last week we opened up around the Mean of 5182.50 - 5115.75 Value. Consolidated around the Mean, built up supply and eventually started moving for the Spike Base, lower Edge and lower ranges VAH to fill those areas out but every time we hit VAH we found a bid there which would hold us over and that would bring in new buying to keep pushing us back...
Trading Plan for Wednesday, May 8th, 2024 Market Sentiment: Bullish, but increasingly cautious in the overbought market. Consolidation is ongoing, and a deeper pullback is likely before further advances. Maintain disciplined risk management. Key Supports Immediate Supports: 5209 (major), 5202, 5188-91 (major) Major Supports: 5143-36 (major), 5067-69...
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It seems that the previous upward movement was a bit emotional, if the resistance is maintained, there is a possibility of correction
ES Trade Plan Inflection: 5210 Upper lvls: 5220-5229 / 5243-5247 / 5262 Lower lvls: 5194-5199 / 5183-5184 / 5178 / 5170 / 5154 NQ Trade Plan Inflection: 18180 Upper lvls: 18270-18306 / 18571-18586 Lower lvls: 18134-18155 / 18100 / 17994 / 17937 / 17774-17810 Stay Frosty!
Going over the Days Price Action ES. looking for clues and asking the important questions.
S&P500 target is 5770 till October this year . keep an eye on Fed report rate cut is coming soon
With weekly buystops attacked inside of the upper quartile of the monthly bearish order block, further upside is possible, with the daily bearish order block not too far ahead. However, I need more data for me to make a judgement where price is most likely going to print to. Dollar higher will tip the scales
ES had a nice looking bear flag, but it has resulted in a bullish breakout above. ES has room to run up to 5300 and I'd expect the top end of that bear flag to act as support on any retests.
The smaller range on Tuesday in the S&P 500 implies a loss of momentum and the market catching its breath. This structure means that if you're on the long side be cautious. The expectation is for sideways move.
Daily weekly long. Hourly flat as a pancake. This could be start of primary wave 2 of 5 or we will have a blow off top continued. Watch 10yr data tomorrow around lunch. I’ll update when I can. Bullish anywhere above $5199.25. Bearish below to $5100.75 Remember big expiration next week on the 17th.
Recent price action on S&P futures suggests a potential rollover happening now, particularly after today's sell-off. This downturn began after the index peaked at 5,333.5 on April 1, 2024. Despite this, the upcoming Federal Reserve meeting and forthcoming high-profile earnings reports, such as NVDA's in late May, add layers of uncertainty. Notably, NVDA has...
E-mini S&P (June) / E-mini NQ (June) S&P, yesterday’s close: Settled at 5206.50, up 51.75 NQ, yesterday’s close: Settled at 18,195.50, up 194.75 E-mini S&P and E-mini NQ futures carried last week’s bullish tailwinds to close sharply higher on Monday. The E-mini S&P cleared major three-star resistance, a level specifically noted here yesterday, at...
Trading Plan for Tuesday, May 7th, 2024 Market Sentiment: Bullish, but increasingly cautious following a strong breakout. The RSI is deeply overbought, increasing the risk of sudden pullbacks. Proceed with heightened awareness of volatility. Key Supports Immediate Supports: 5186-88 (major), 5163 (major) Major Supports: 5144-46 (major), 5060-65 (major) Key...
After watching the action at Non Farm Payroll. I noticed 3 key PD Arrays that could allow ES to move back into ATHs. Should move fast 1) Mitigation block 1H TF Apr 22 2) Breaker block at the spike of FOMC an May 1 3) 1h FVG created from NFP news release on May 3 The only thing that would confirm my thesis would be a gap up on Sunday open