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...
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...
RSI hit oversold at close yesterday, MFI still oversold. Guessing we get a Powell pump this afternoon, but watch out for teh whipsaw
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.
In this video we will demonstrate how to access the help center in TradingView with AMP Futures.
Looks to me like the algos are going for the pump and dump. Gap direction will depend on AAPL earnings though so I'll wait to see what happens. MFI probably hits overbought tomorrow either way
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...
Indicators are neutral but MFI rapidly approaching overbought. Quite frankly, I'm bearish on AAPL earnings this afternoon anyways
Trading Plan for Thursday, May 2nd, 2024 Market Sentiment: Uncertain, with bulls holding a precarious position at a critical support level. Key Supports Immediate Supports: 5048-50 (major - note that this trendline rises daily), 5032, 5028 (major) Major Supports: 5010 (major), 4968 (major), 4938-42 (major) Key Resistances Near-term Resistance: 5077-82...
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...
After the volatility seen on Wednesday in the S&P 500, the expectation is that Thursday will be a day for the market to catch its breath before labor numbers come out on Friday. This means trading inside Wednesday's range on Thursday.
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.
Buyers returned in the S&P 500 waiting for the next challenge which is the release of the CPI numbers on Wednesday. The bias is for the market to continue higher but how it interprets and absorbs the CPI numbers is 50-50.
It seems that due to the news, the upward trend has lost its strength, if the resistance is maintained, there is a possibility of a fall
So trends that called for upward movement confirmed this upward movement last week. I had mentioned in my last video that the candlestick pattern for May 1st was extremely bullish, the following two days confirmed that movement in my opinion and given that trends called for upward movement, we crossed above the zero line on MACD Momentum into a bullish zone, and...
Trading Plan for Tuesday, May 14th, 2024 Market Sentiment: Bullish, but cautious given the 8 consecutive green days. The risk of a sudden pullback increases as the market becomes more overbought. Key Supports Immediate Supports: 5235 (major), 5221-17 (major), 5210 (major) Major Supports: 5192 (major), 5174-76 (major), 5144-47 (major) Key...
The momentum in the S&P500 chart slowed down yesterday. With a view to the upper price target, however, there should still be room for further expansion in the current phase of the turquoise wave 5. Once the high has been placed, a larger corrective movement is on the cards. Please note our alternative scenario (38% probable). This option suggests the possibility...