PPI price ACtion Review ESGoing over the Price action after the PPI. market gave us a sell signal and dropped hard. found support and now in a bear flag. waiting for price discovery and looking back for the major clues. Short01:35by BobbyS8130
ESM24 LONG to Intraday HIGH (Channel Top)Looking for the BULLS to defend their Zone and take the market towards new highs.Long02:26by EconomicAlpha1
ES UpdateWell there's the pump and dump with the Thu dip I predicted earlier this week. Probably melts back up when MI hits oversold. Gonna wait until MFI goes oversold, maybe a small long play EOD for Ponzi Fridayby hungry_hippo7
Trading Plan for Thursday, March 14th, 2024Trading Plan for Thursday, March 14th, 2024 Market Sentiment: Cautious, watching for breakout direction Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5230-28 (major), 5220, 5213, 5202-07 (major), 5191, 5180-83 (major), 5167, 5162, 5156 (major), 5148, 5144, 5136, 5126 (major), 5115, 5108, 5103, 5088-91 (major), 5083 (major), 5076, 5071, 5067 (major), 5060, 5053, 5048 (major). Resistances to Monitor: Key Resistances: 5235, 5245 (major), 5257 (major), 5265, 5280 (major), 5287-90 (major), 5300, 5306, 5314, 5327, 5335 (major), 5340, 5346 (major), 5354, 5363-65 (major), 5374 (major), 5380, 5391 (major) Trading Strategy: Consolidation Zone: Price action between 5230 and 5245 indicates a new consolidation range. Exercise caution with overtrading within this range. Look for breakouts or breakdowns for clearer directional cues. Support Focus: Watch for potential long opportunities at 5230-28 (after a dip and reclaim) and 5220 (if today's low holds and reclaims). For aggressive traders, major supports like 5202, 5183, and 5156 offer potential bounce areas for catching points on a larger sell-off. Counter-trend Caution: (For experienced traders): Shorting green candles is risky. If a breakout above 5245 occurs, watch for short entries around the 5280-90 zone. Patience is Key: Prioritize capital preservation and wait for high-conviction setups. Bull Case: Flag Structure: Current price action could be forming a bull flag. Defending 5230 and 5220 supports keeps this scenario alive, targeting a potential breakout towards 5257, 5265, 5280, and the 5287-90 zone. Adding within Flags: Monitor for reclaims of 5235, indicating strength within the consolidation with the potential for another test of 5245. Bear Case: Breakdown Signals: Breakdown below 5220 could trigger selling pressure. Watch for shorting opportunities on failed breakdowns or bounces, ideally after a test of 5220. News: Top Stories for March 14th, 2024 U.S.-China Deal: The quiet extension of a bilateral agreement between the U.S. and China underscores ongoing complex diplomatic and trade relations. Chip Manufacturing Contrasts: Delays in a U.S. chip plant contrasted with Japan's on-schedule progress highlight the challenges and global dynamics in the semiconductor industry. Gaza Economic Crisis: Surging inflation in Gaza puts further strain on residents, particularly due to the dramatic price increase for essential goods. Immigration Impact: Post-pandemic urban growth in the U.S. is significantly driven by immigration, reshaping demographics and economic landscapes. TikTok Scrutiny: The U.S. House of Representatives takes a step towards potentially banning or forcing the sale of TikTok, citing national security concerns. Retail Landscape: Family Dollar's planned closures signal changes in the retail sector due to shifting consumer behavior. Labor Market Update: The robust U.S. job market adds 275K positions, a factor as the Fed weighs interest rate decisions. Additional Factors: Keep an eye on the upcoming PPI data, oil market dynamics, and Robinhood's surging trading volume for potential market implications.by spytradingpro0
ES Potentialy ShortThe market saw a large pullback in many recent equities this last Friday including companies like nVidia. I cant say that the chart looking bearish, we are still making some higher highs. Ive done some research to learn some shareholders are likely starting to take profits on stocks that had large rallies. But most importantly, it seems like we have some unfinished business down below where price attempted to test the low, but was just a few points away from doing so, front running the level. Looking for a small dip towards the support zone, and potentially lower if we flip the demand zones in supply. Lets see! Shortby afurs1Updated 2
Overnight Price Action REview ESGoing over price ES over night. looking for clues to what the market is telling us. PPI out at 0830. going to wait and adjust on the #'s. having a dynamic mind today waiting for setups. no setup no trade. good luck everyone. Today is the day.01:42by BobbyS8130
ES Weekly Levels (Mar11-15)Markets closed the week with a dip as record highs gave way to profit-taking. Chip stocks, including Nvidia, faced reversals, impacting the S&P 500 and Nasdaq. Despite a strong job growth report, rising unemployment and slowed wage growth tempered the market's enthusiasm. NVDA closed 10.14% off it's ATH and Costco's 7.6% drop signaled cautious consumer spending. NQ finished the week -1.44%, ES -0.11% and MYM -0.76%. XLY & XLK finished the week red, while defensive XLP & XLU closed green. This week earnings season will con't to wind down and the focus will shift to CPI & PPI data for the lates clues about potential rate cuts. SUMMARY ES had a weekly of 0.11% after trading in a wide range of 131 pts. ES made another ATH high but pulled back 1.10% on Friday. R1 = LTF 1.618 Fib X (5212) R2 = ATH (5257) S1 = 9 ema (5178) S2 = 21 ema (5133) Bias will remain long unless new information is presented or until the upward trendline is broken. Limited resistance levels above make large whole number very important. Potential risk-off shift for stocks last week. XLK & XLY down. XLU, XLP & XLRE up. NVDA dropped 10% from ATH. COST dropped 7% after earnings. Econ data this week includes CPI on Tuesday & PPI on Thursday. Watch for small cap growth to finally take off. RSI 62.25 | VIX at 14.75 | 10 year 4.25% by WadeYendallUpdated 5
Fundamental perceptions could be the driver of this market.The perceptions of the fundamentals on Thursday could provide the incentive for buyers to continue pushing the S&P 500 to higher levels. The perceptions I'm talking about would be the markets point of view of future Fed interest-rate action.01:21by DanGramza2
Reviewing Price Action ESgoing over the price action ES for Mar 13. lots of chop. couple really nice setups today. less is more. not much to do till PPI in the morning. always Remember where you'll get out if you're wrong. 01:42by BobbyS8130
Morning Price Action Review ESGoing over the Price Action ES. not much to do today. we're in Chop Mode. scaling down. not doing much focusing on longer time frames. not much to do. always remember where you'll get out if you're wrong. 01:28by BobbyS8130
3/13 Wednesday Trading PlanTrading Plan for Wednesday, March 13th, 2024 Market Sentiment: Neutral to Bullish Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5235, 5230, 5221 (major), 5214, 5207 (major), 5202, 5196, 5191 (major), 5181, 5175 (major), 5167, 5162, 5155 (major), 5148 (major), 5137 (major), 5125, 5115 (major), 5109, 5103, 5097, 5090 (major), 5082, 5077-80 (major), 5070, 5060 (Major), 5056, 5045-47 (major), 5038, 5026, 5018-20 (major), 5012, 5000 (major), 4990, 4982 (major). Resistances to Monitor: Key Resistances: 5242 (major), 5254, 5257, 5274-78 (major), 5283, 5290 (major), 5297, 5309, 5315, 5326 (major), 5331, 5341, 5345, 5355 (major), 5366 (major). Trading Strategy: Post Trend-Leg Caution: After the significant rally, short-term setups are less clear. Exercise caution with both longs (chasing, rug pull risk) and shorts (against the dominant trend). Let price discovery unfold before forcing trades. Support Focus: Watch for potential long opportunities at 5235, 5221, and particularly 5207. Look for reclaims or failed breakdown setups for stronger entries. Short Opportunities (For experienced traders): Consider shorts on confirmed breakdowns below 5207 or bounces off the 5274-78, and 5290 resistance areas. Patience is Key: Prioritize capital preservation and wait for high-conviction entries. Bull Case: Trend Continuation: The overall bull trend remains strong. Defending 5220 and 5207 supports paves the way towards new highs at 5254, 5274-78, and the 5290 macro magnet. Adding within Flags: Monitor for potential bull flags overnight between 5242 and 5230. Consider adding positions within a well-formed flag if a major new high is not made. Bear Case: Breakdown Signals: Breakdown below 5207 could trigger selling pressure. Watch for shorting opportunities on failed breakdowns, ideally after a bounce. News: Top Stories for March 13th, 2024 Economic Outlook: Despite President Biden's cautious economic forecasts in November, recent progress suggests a stronger outlook. Economists are predicting faster growth, lower inflation, and continued job creation. Housing Initiatives: President Biden's proposed initiatives to reduce housing costs aim to ease affordability challenges caused by inflation and high-interest rates. Cryptocurrency Trends: Meme coins are surging, while electric vehicle stocks see mixed analyst opinions highlighting the volatility of these sectors. Gold's Safe Haven: Amid geopolitical tensions and economic uncertainty, the record-high gold price reflects its appeal as a safe-haven investment. Interest Rate Debate: Speculation continues around the timing of potential Federal Reserve interest rate cuts. Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.by spytradingpro0
OverNight Price Action REview ESgoing over the Price action OVernight ES. not much to do really. we're bull flagging right now. going to let the market tell us what it wants to do. always remember - we are Risk managers.01:17by BobbyS8130
Can buyers maintain the upside momentum?The rally on Tuesday supported by buyers coming into the S&P 500 futures market indicates moment and picking up to the upside. The challenge now is can that buying paper continue this momentum. I think you can but I would not look for a big day up on Wednesday.01:54by DanGramza3
Long at retest of breakout pointAmazing how retests work even on data driven volatile days like today Entry at the retest (purple arrow) yielded great resultsLongby NCHammer110
S&P 500: Turn around! 🔄After the S&P was able to close the price gap of the previous trading week, bullish pressure pushed the index up again. We have drawn a clear demarcation between our two scenarios with the resistance at 5254 points. Primarily, we categorize the magenta wave (1) as finished. The current wave (2) correction should come to an end in our magenta Target Zone (coordinates: 4635 – 4340 points). If, on the other hand, the index surpasses the resistance level at 5254 points, the internal wave Alt.5 in turquoise as well as the superordinate magenta wave Alt.(1) will reach a higher level again. We assign a probability of 30% to this alternative scenario. Shortby MarketIntel0
ES UpdateBad inflation news or not, the algos won't be denied, lol. Expecting it to go overbought tomorrow, and reverse for a dip on Thu. I was busy doing other stuff and missed the pump, just staying cash. Would've been a lot easier if it the same thing as last month and gapped down big, this morning was a bit tricky, wasn;t sure what it was doing.by hungry_hippoUpdated 337
CPI Price Action Review ES Going over the price action on this CPI day. lots of setups executed very well. lots of levels and great moves. focus on your process. eliminate what doesnt work and double up on what works. always remember where you'll get out if you're wrong. we are Risk Managers. Long02:00by BobbyS8130
ES UpdateMFI went oversold before market open, but RSI hasn't. MFI is a poor indicator for gap direction, gap will be dictated by CPI numbers premarket. Then we have PPI coming up on Thu. ES is still in the channel though...by hungry_hippoUpdated 1112
3/12 Tuesday Trading PlanTrading Plan for Tuesday, March 12th, 2024 Market Sentiment: Cautious Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5181 (major), 5176, 5168 (major), 5163, 5155, 5149, 5140 (major), 5136, 5126 (major), 5115, 5110, 5103 (major), 5092-95 (major), 5082, 5077 (major), 5067, 5056, 5047, 5038-41 (major) Resistances to Monitor: Key Resistances: 5187, 5198, 5202 (major), 5212, 5220 (major), 5230, 5238, 5248-50 (major), 5262, 5267-70 (major), 5279, 5288-90 (major), 5297, 5305, 5314-16 (major), 5324, 5336 (major), 5344 (major) Trading Strategy: CPI Volatility: The recent CPI data release suggests hotter-than-expected inflation. Approach Tuesday's trading with heightened caution, reduced position sizes, and anticipate the potential for large swings and sudden reversals. Re-evaluate Supports: The CPI data indicates increased potential for a more substantial market pullback. Reassess support levels and be prepared for potential breaks below the previously noted "major" levels. Short-Term Bearish Tilt: Consider a short-term bearish bias for the day, prioritizing potential shorting opportunities on confirmed breakdowns below key supports or bounces off resistance levels. Focus on Commodities: Pay close attention to commodities markets, specifically oil and food-related commodities, as recent price increases suggest further inflationary pressure. Bull Case Trend Defense: Bullish outlook remains plausible if 5181 and 5168 are defended. Holding these supports suggests a potential path towards resistances at 5203 and 5220. Adding on Strength: Consider adding to long positions on reclaims of 5187, but proceed with extra caution ahead of potential further volatility. Bear Case Breakdown Risk: Breakdown below 5168-63 could signal a reversal. Look for bounces or failed breakdowns at these supports for potential short entries. Be aware that moves can be very rapid during high-impact news releases. News: Top Stories for March 12th, 2024 Inflation Concerns Surge: The latest CPI data reveals higher-than-expected inflation readings, sparking concerns about persistent inflation and its impact on the Federal Reserve's plans for interest rates. Market Volatility: Recent volatility underscores the sensitivity of the market to economic data and geopolitical events. Sectors like technology are drawing additional attention. Cryptocurrency Market: Bitcoin and Ethereum prices are fluctuating, reacting to regulatory updates and news of institutional adoption. Earnings Outlook: Stay attuned to corporate earnings for insights into how companies are navigating current economic challenges. Geopolitical Impacts: Global tensions, notably the Ukraine-Russia conflict, are influencing commodity markets and overall sentiment. Additional Factors: Keep an eye on M&A activity, economic indicators, tech regulation developments, sustainable investing trends, and evolving U.S.-China trade relations. Remember: News-driven events like the CPI release can trigger significant short-term volatility. Stay flexible, be prepared to adapt, and prioritize preserving your capital. Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.by spytradingpro0
03/12 pre market planGood morning guys i havent been trading this days, a lot of study for that promotion keeps me out of the market some time, i had the inflation report in the pre market crazy movement as always, now we are rejecting the supply at 5145, honestly i would focus on shorts targeting the demand 5098 unless i see a lot of buying coming in.by SrSovi1
REviewing Overnight Action ES Going over the price action overnight looking for clues the market is leaving us. not much to do really till CPI comes out at 0830. if its hot/cold we have a plan. going to react and not forecast. we are Risk Managers. 01:48by BobbyS8130
ES1! evening updatePrice action from 8 and 11 March looks corrective. If confirmed, I'm looking for daily higher-high to go no higher than 5394.75. Key supports are 4999.50 and 5129.50.by discobiscuit1