MFI is precariously close to overbought even though the market is not gaining traction. When the algos hit the sell button after this next pump then we could see a big drop.
Like I said, no long positions until next week. No FOMO trades for me. These whipsaws are too hard to trade
note the broken down rising trendline resistance. Im expecting it to get tested and rejected hard with new lows mid July (13-14th), ideally we test 3500 and hold it.
The longer term target is 3209SPX now
Widest 2/10 Spread on Inversion in a long while.
FREDDY claims to have dumper $19B in MBS and $#B in USTS.
Edward Scissors Hands calls BS.
A Slasher Drama for the Ages.
Team Edward.
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The EU's Cow Fart Green Agenda and Reduction on Nitrogen use, both
by 30% - have farmers enraged - By Design, of...
These boxed fractal patterns are amazingly similar. Will the outcome repeat to the downside?
Holiday trading can be especially erratic.... Happy Fourth!
In this update we review the recent price action in the EminiSP futures contract and identify some high probability trade locations and price objectives to target
Last weekend's review, it was expected that the S&P500 would follow through with a bullish week. Instead, it was quite the opposite, until the late part of Friday that the upticks started. This could have been attributed to the end of the quarter, half year sell-off by portfolio managers, just a possible consideration.
This week's price action was clearly not...
Do you hear nothing that I say.
But moving a single stock around is one thing, moving the entire market is totally different.
No, No Different, Only in your mind. You Must Un-Learn what you have learned.
Alright, I'll give it a try
No, Try Not. Do, Or Do Not. There is no Try
I Can't. The Market is too Big.
Size Matters Not. Judge me by my size do...
Ayer, aunque bajamos, estuve lejos de mi objetivo, pero hoy la cinta está mostrando las mismas características, quiere bajar el precio a 3725 en mi opinión, luego bajo 3720 quiere continuar hasta 3690 muy probablemente.
Pivote 3766
Sobre él ir en largo hasta 3850.
Bajo él, ir en corto hasta 3725, 3686.
Ahora 3754
Yesterday I was far away from my target but today the tape is showing the same characteristics, they want to go to 3725 IMO, then below 3720, it will continue to 3690 most likely.
Pivot 3766
Above it long to 3850.
Above it short to 3725, 3686.
Now 3754
good evening peoples ^^
the reaction we saw from my target today was not what i was looking for; pretty weak in my opinion.
might see continuation to the upside into friday, followed by a flush out post july 4th.
👇
if the range high is breached, es can potentially expand higher to anywhere between 4000~4070
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3550~3500 is my downside target if it drops next week.
As I mentioned in the Wednesday video, I thought there could be a bounce to higher prices on Thursday and it did not occur. However, the large lower shadow on Thursdays candle indicates buyers entering the market but can they follow through going into a holiday weekend and at this point a lack of fundamental support.
Today was a fun and eventful day. Watch as I breakdown price action for the first half of the day and where you could have potentially taken trades. All credit on my knowledge goes to the inner circle trader.
So, really interesting day. I'll be up front, I am likely done for trading for the week. My risk management plan says that if I have an overly exceptional week, I step away for at least a day. My weekly goal is to capture about 50 points worth of profit on the ES Mini, and I have managed just shy of 200. I know what will happen is I will try TOO hard to hit that...
Good morning traders,
Last trading day of the month today usually means we get some window dressing, but I don't think we will get any today. The market has tested lower again overnight, and there is a weak low on the profile.
Long story short, I'm still looking for opportunities on the short side.
As we all know, the ongoing war has really put a squeeze on our oil supply ($CL1!) and $SPY have been just hemorrhaging since the beginning of the year. Naturally I've taken to trade these two (or three using $ES1! just to put them both on futures level) inversely. We've had a solid run on $ES1! the last week and whether you think we are at bottom or not, it is...
... for a 3.05 credit.
Comments: A basic bet that /ES doesn't lose more than 25% of its value over the next 36 days put on in weakness/higher implied volatility. Still have July 29th and August 19th rungs on. 1.525 ($152.50) max on buying power effect of 19.79; 7.7% ROC at max as a function of buying power effect; 3.9% at 50% max.
CME_MINI
