After the volatility witnessed in the S&P 500 on Thursday, the expectation would be for Friday to trade inside the range of Thursday. Without new fresh fundamentals, a neutral close on Friday would be a logical way to finish out this week.
Going over the PPI report and the price action ES. what was the market telling us and how did we trade today. jumped the gun early and cost us a magnificent day. we were battling ourselves all day long felt almost like we were a step or 2 behind. Definitely weren't a Panther today. keep working hard. failure is needed to grow so don't be afraid to fail. we failed...
Going 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.
Looking for the BULLS to defend their Zone and take the market towards new highs.
Well 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 Friday
Trading 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,...
The 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...
Going 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.
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....
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.
going 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.
Going 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.
Trading 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...
going 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.
S&P500 Futures ES Priority way on 13.03 - Short These posts are recommendations for building trading ideas for the day. All recommendations are based on personal experience and analysis of incoming market data.
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.
Amazing how retests work even on data driven volatile days like today Entry at the retest (purple arrow) yielded great results
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...