Market Forecast UPDATES! Monday, Mar 3rdIn this video, we will update the forecasts posted last March 2nd for the following markets:
ES \ S&P 500
NQ | NASDAQ 100
YM | Dow Jones 30
GC |Gold
SiI | Silver
PL | Platinum
HG | Copper
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ES1! trade ideas
S&P500 is OVERSOLD!CME_MINI:ES1! NASDAQ:NVDA NASDAQ:AAPL NASDAQ:AMZN NASDAQ:META NASDAQ:MSFT NASDAQ:GOOGL NASDAQ:COIN
BUY OPPORTUNITY on CME_MINI:ES1!
The chart shows a strong bullish setup. A well-defined wave structure is visible along with a key Fibonacci retracement level marking the pullback. A divergence in momentum has been noted, and the price action has bounced off the 52-week EMA, suggesting that buyers are stepping in.
Fundamentally, the outlook remains positive. Recent macroeconomic data points to solid consumer spending and steady industrial production, while bank earnings and statements from major financial institutions have added to market confidence. These positive signals help support the S&P 500’s broader resilience, reinforcing the potential for further gains.
That said, caution is advised. Uncertainties such as shifting monetary policy, potential geopolitical tensions, and any unforeseen changes in economic data could introduce volatility. Traders should consider tight risk management and stop-loss strategies to mitigate downside risks.
Not Financial Advice
Volatility and comfortThe price movement in the S&P 500 this past week was volatile. However, on the close of Friday Powell's comments created a certain degree of comfort in the market and we saw a positive close to Friday's action. The next test will be a close above 5825 on Monday. This would be an indication that buyers are continuing to support this market.
Descending Channel PatternFrom what is a descending channel which also has a higher percentage of completion than the others. Whether is a Continuation or a full Reversal solely depends on where it breaks out at. In my opinion this is going to be a full reversal considering how we have been more so consolidating, rather than dropping. No position just yet but i will scalp and lean more towards the bullish side.
ES Morning Update March 7thES has been revolving around 5757-63, acting as a key magnet. It held as support in the morning, leading to a rally toward 5822, but once it failed in the afternoon, the market sold off to the 5725 target. Now, NFP will dictate the next move.
As of now:
• 5763 must recover to target 5777, 5794, and 5822
• On an NFP flush, 5714 and 5700 must hold to prevent deeper downside
Combined US Indexes - Breakdown and JittersMarked out previously, the US indexes broke down a tad earlier and retested to fail only to drop further based on jitters and jitter-induced expectations.
While the candlestick is long and solid pretty much, there is an extension zone to expect more of the downside to overreach and be oversold before a bounce.
You should be able to see that the Buy Setup is pretty much done and can expect a bounce reversal soon... but only after momentum ebbs and a base support is found.
Watch for it...
New additional ES/SP500 AnalysisAlternative and more likely scenario to previous ES/SPY bottoming ideas: #1 ES/SPY has been traveling in downward channel. Seems as if it has made 3 - 4 top of channel/bottom of channel trips and potentially may be missing completion of this last rotation down, which ignites the move up or may exit the channel with sideways move which would provide idea number #2 ES/SPY will continue to test the 200 MA breaking above and below it. (Potentially one of the candles may make a big move down and bough up providing a big flush/shake out and subsequent large wick. Possibly not required). Eventually forming a multiple daily candle bottom. Likely 2-3 more candles before starting its ascent higher. Personally I'm already long with small (red!) positions with ES micro mini, SPY and NVIDIA calls. More pain and waiting likely ahead and ready to make small additions waiting for the strong move up. Risk management required. As with every chart analysis viewing all possibilities - I could see potential additional 100 - 130 point drop
ES Bottom Could Be in MacroI am longing AMEX:SPY and a good bit of Semi Conductors as well like NYSE:WOLF and NASDAQ:NVDA .. This was a healthy Pullback, of course I am very far out with my positions on Options. I am Also long on NYSE:ES for a swing with a nice hedge on NSE:TTL .. This is not financial advise, just my idea.. usually we are all week early. I am stacking in accordingly. www.tradingview.com
DID SPECULATORS FINALLY BUY THE DIP?Since the October 2022 low in the S&P, Large Speculators (blue column) have not bought any dips in the market with significance where they got crowded getting long. Since that low, the S&P kept making new all-time highs and the Speculators never chased.
Tt's going to be real interesting cot on Friday, 03/07/2025, to see if they bought this dip in stocks which I've been talking about for a few years, where I really didn't think this bull market will end until they buy.
They were clearly never going to chase. So maybe they'll buy the dip. The Friday data will show positioning as of this past Tuesday which included a significant move. If that is in fact what they have been doing. My sneaking suspicion is they did. But let's see, let's let the data tell us.
MES!/ES1! Day Trade Plan for 03/06/2025MES!/ES1! Day Trade Plan for 03/06/2025
📈5798 5818 5838
📉5759 5739 5719
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*These levels are derived from comprehensive backtesting and research and a quantitative system demonstrating high accuracy. This statistical foundation suggests that price movements are likely to exceed initial estimates.*