$SPY $ES_F Key Levels, Analysis & targets THE TREND IS YOUR FRIEND I’d say the 200 MA could be the upper limit here, around 443 before a move downward again. IF it even gets a chance, as there is enough reason for a move down from right here. GL, y'all... I hope you're loving the volatility as much as I am!!! 💃🏻 ----- — On the far right of the chart is my...
Reasons Why this is Strong Resistance 1: Algo Zone 2. Prior Structure 3 : Strong Pivot "White Horizontal Line" all the way up to "Tri-Yearly" 4: Trend line from our "All Time High" 5 : Strong Volume Nodes on the Volume Profile 6 : Pitchfork Median 7 : 50 MA from the Weekly Timeframe
CME_MINI:ES1! Possible Scenario: SHORT Evidence: Bearish Divergence today pump has no meaning, absolute MM manipulation. TP: 420$ *This is my idea and could be wrong 100%
Hello everyone, I'd like to share with you todays ES trading levels. As drawn in the chart we can see, that the price broke the structure of an uptrend and set new LL and LH yesterday. We want go with the flow and are looking for a trend continuation and some cheaper prices. Please let me know your thoughs and if you like the idea.
For 3/2 #es_f Mar * Y'day balance 4349 * ON balance 4315 * Weekly balance 4316 * Control 4328-4344 * Stop Size * 22pts Longs above 4338 target 4368 then 4392-4434 * Shorts below 4338 target 4323 then 4297-4234*
Good morning traders... Much of the same yesterday. Brief rally, then some selling, then rally again. This leaves us precariously close to the "cliff" at 4275. Keep an eye on that level today if we get sellers early. I didn't mention in the video that powell is speaking at 10 today, and will likely cause some large swings in the market.
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In this update we review the intraday price action in the SP500 and identify a high probability trading pattern and price objectives to target.
No melt up, looks like MFI is cycling down As I said last week, 3 or 4 day short covering. Quite a few stocks went green this morning and rolled over. Nobody's looking at PTON and thinking, "geez I need to get into that during a war", just algos squeezing shorts. Oil hitting transports hard, consumer cyclical is next because oil prices impact everyone's...
Yesterday I mentioned two possible paths, and obviously market took the one with more whipsaw, which is pretty common now. So Sunday night drop is (a) of (2), rally till last night is (b) of (2), and the drop today is (c) of (2). Since there is no clear 5 wave down structure, or clear bottoming confirmation, and we did not reach 100% fib extension in this (c)...
We are seeing a Hidden Bullish Divergence here, which generally means trend continuation (in this case up). This rally is going to continue, which is quite fascinating considering how much FUD is out there. This market is VERY strong.
The bearish inside day in the S&P 500 sets a bearish tone going into the president's state of Union address Tuesday evening and the Fed announcements on Wednesday. The price action in this market is bearish and it's located within what I refer to as a neutral zone. This market could easily tip up or down with the current tenseness in the market.
The inside day on Monday implies another inside day on Tuesday. The market needs new information at this point to create a strong directional play up or down. The Ukrainian situation can provide that stimulus. Be cautious at the current levels of a kick in volatility.
Watching for this inverse H&S to take off. I think we're looking up on the S&P 500.
All futures gaps fill, and I guess even a war won't keep the algos from following their rules. Strange thing is it looks like a melt up now. No position. Might take a break this week. AT this point I expect both ES and YM to fill the gap. RTY and NQ already have.
With price showing willingness to move lower, this is the current idea. Mostly for my records and review
The downtrend is still very much intact. Preliminary numbers from Friday show an -8.8k drop in open interest across all months in the ES. A sharp rally after a downtrend, coinciding with a drop in open interest, indicates a short covering rally. Buyer beware!