📈 NYSE:ES broke trend line, now at resistance level of 5213.25. 📉 RSI indicates overbought. 🎯 Next resistance: 5247.25 - 5257.50. If rejected, support at 5164.25. Stay vigilant! #TradingUpdate 📊
Lets see if we can break resistance on the S&P500 Futures!
It appears that the S&P 500 price action indicates the market is adjusting to the outlook that interest rate cuts may happen later in the year. The expectation would be another day higher on Tuesday but not a large range. The estimate for the high would be 5225 to 2530.
Going over the day's price action looking for clues as to how we could have traded better today. Pain + Reflection = Growth
Trends are mostly in an upward movement stage, looking to remove the violation left of the 12hr / Daily lower high trend indicators. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5086 Uptrend (5/2/2024) Higher High 1Hr - 5117 Uptrend (5/1/2024) Higher High 2Hr - 5117 Uptrend (5/1/2024) Lower High 3Hr - 5157 Uptrend (5/3/2024) Higher...
Although during the meat and potatoes of last week has been very choppy, with many gaps appearing in price action on the daily timeframe, ES has managed to reprice through the prior weeks buystops into a sellside imbalance buyside inefficiency located between 5123.25 - 5248.75. I do not believe the buying pressure is over yet as just above the SIBI is a bearish...
going over the morning sessions price action looking for clues as to how we could have traded better and which clues the markets are leaving us.
E-mini S&P (June) / E-mini NQ (June) S&P, last week’s close: Settled at 5154.75, up 63.25 on Friday and 23.25 on the week NQ, last week’s close: Settled at 18,000.75, up 351.00 on Friday and 155.00 on the week E-mini S&P and E-mini NQ futures are pointing higher on the heels of a strong finish to last week, supported by a strong earnings report from Apple and...
Overbought on RSI and MFI, I would expect at least a dip tomorrow
Trading Plan for Monday, May 6th, 2024 Market Sentiment: Uncertain, with bulls seeking further confirmation after exceeding a major resistance level on Friday. Consolidation and complex, level-to-level price action are likely. Key Supports Immediate Supports: 5145-50 (major), 5136, 5116-13 (major) Major Supports: 5082-77 (major), 5067 (major), 5060...
**SP500:** The price is expected to fall to the zone between 4874 e 4824.
Going over the sunday night to Over night price action ES looking for clues as to what the market is telling us. will go over 4hr charts sometime today.
S&P 500 (ES), it's nice to see a strong buying reaction at the price of 5114.00. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. The S/R zone from...
“The only bad time to buy real estate is later” cites investment wisdom. But, when interest rates soar high, real estate investments can and do hurt. Last week FOMC reiterated its resolve to fight inflation down to its target 2%. Inflation has been stubborn and sticky. It has shown signs of trend reversal towards resurgence. Chair Powell’s made clear that rate...
Liquidity has been taken with a double top imo My confluences with the macd have triggered.. I’m short to the target price for the next 15-20hrs What are your thoughts? Trade safely my friends
Here are my levels for the week. Same notes as NQ. I have been really busy outside trading so I have not been able to post many updates. I continue to trade these levels a few hours every morning. Treat the levels as as support, resistance or targets. The market is currently trading in a large consolidation pattern with large daily ranges. The levels noted are the...
Not going to go into this too deeply but as you can see, we made a higher high on Friday and are currently hitting resistance at the upper extremity of the zig zag channel. Price has also been consolidating in a riding wedge pattern, which could mean we could soon see a move to the downside. It also appears that the inverse is happening with TVC:DXY where the...