I do think that ES is showing signs of weakness and this is my though process of what has happened and what has yet to occur at this point. Now looking for London to run the high formed today, then trade lower to run the sell stops
Hello and thank you if you are a regular reader 🖖 Welcome if you are new to my daily publication... 👍 Publishing this post on a daily basis helps me avoid distractions and sets my focus to be fully in line with the now in the marketplace. Knowing you read me keeps me accountable and forces me to be objective in my analysis which helps with my own trading emotions...
As a big fan of 3 Day charts, I projected that bulls have ceiling at 4760, but that now seems like a distant view. last few days I was skeptical because of price was acting in the growth names. for transparency, I was long in AFRM, UPST from the lows, sold FRM at 41 and 47 and holding UPST at 106.5...will close for loss depending on how price acts tomorrow....
After the Fed announcements we can go back to the trading, we can see the markets was waiting for the Fed in the afternoon, and tomorrow morning we have somebody else from the Fed talking, that usually gives the market some combustible to move fast. as for support resistance levels we have 4450 as the immediate support after that 4415. for resistance we have 4500...
Sellers came in today in the S&P 500 and push the market lower with both hands. The Fed meeting minutes were released on Wednesday and the expectation is there will be a 50 basis point increase in the balance sheet reduction would be $60 billion of treasury securities and $35 billion of mortgage-backed securities. I am looking for a smaller range day-to-day but...
ES Analysis : Forecast : So narrowing this down , 1st off we don't want this "White zone" being broken . Reasons why , Huge support, VPOC is right where PA is at and we don't wanna be too far away from it in my opinion. Now for the "Golden Rectangle" in my opinion we don't wanna be there because being there means we are starting to get "2 sliding...
White = option 1 bull/bear Blue = option 2 bull/bear Not shown: option 3 we sit in a correction pattern between 462 - 449 sorry I marked up one on futures
Using 4D candles and comparing las 16 hrs of trading
ES RSI and MFI oversold as is RTY and NQ. Flipping my puts on open. Probably a pop here, I don;t expect a rally, but will be watching the inidcators for the next opportunity to short.
Due to the last weeks with no corrections rallies, there may be one to keep the things orderly, therefore this correction IMO, plus on the technical side there is support at 4450 level. Pivot: 4470 Above to 4500, 45112 and 4537. Below it to 4450 then the averno. $es_F #tapereading #daytrading
This is based on my dowsing work as well as intuitive methods. The scenario is lower tomorrow and a V-bottom and parabolic action in /ES- and I assume, all the indexes. I asked for a level and get that we break 4400, but don't go below 4385, so we'll see. I'm not sure how confident I am in that given how far we've already gone. But, the primary indications are to...
I mentioned last week that the daily was overbought, usually takes longer than a few days before it rolls over when that happens, lol. Daily chart looks very bearish. I flipped my puts today since my 3 hr chart is oversold but definitely not going long here. I think we just get a bounce, not sure how the chart pattern will play out.
For 4/6 #es_f Jun * Y'day balance 4563 * ON balance 4512 * Weekly balance 4555 * Control 4477-4499* Stop Size * 16pts Longs above 4504 target 4541 then 4577-4621* Shorts below 4504 target 4476 then 4456-4437*
good morning o/ es looks hot. really spicy dip overnight, looks like a simple zig-zag for now. key level sits at 4432.50 if the key level holds successfully, we'll see an expansion to 4750+ though, if the key level fails to hold, look out below!
Good morning traders, FED's Brainard had some tough comments yesterday, and the market did not like it. We have seen nothing but selling since. We have plenty of room to run lower, but the profiles still look weak on the high side. With that said, that's more technical analysis, and fundamentals seem to be at play here. Im looking for some weakness in the...
Hello and thank you if you are a regular reader 🖖 Welcome if you are new to my daily publication... 👍 Publishing this post on a daily basis helps me avoid distractions and sets my focus to be fully in line with the now in the marketplace. Knowing you read me keeps me accountable and forces me to be objective in my analysis which helps with my own trading emotions...
In this update we review the recent price action in the SP500 (futures contract) and identify the next high probability trading opportunity and price objectives to target.
Prior major short signal: And here we are again I see a good risk/reward short here in the SP500. There is much more than in this chart, but this is already enough of confirmation that the market is taking a deeper breadth.