May first will be economy news all day market will be expected to be red .
Going over the days price action. looking for clues on how we could have traded the day better. always do your reflection period. without Reflection there is no Wisdom, only wasted time and time is something we just don't have a lot of. so Make it count. do the hard work.
SP500 open with a gap down. going for a long position before it continues its trend downwards. Entry: 5052.25 Stop Loss: 5040.75 Depending on how movement is my first take profit is ( 5072.25 ) Full Take Profit: 5086.25
Good Evening and I hope you are well. overall market comment End of month proved to be volatile and bears made clear that the last bounce was a lower high and we are on our way to new lows. My overall market thesis for the last 2 weeks was, that this bounce should be a W2 and we are in a new bear trend. Now bears need strong selling to break through the...
Its only the 2nd day of the trading week and this is how our weekly chart looks! ES price action fell to close a globex gap at 5082 today in preparation for FOMC day tomorrow May 1! We will I believe we could continue down as low as 4934 depending on the data this week. 4934 is supported by a weekly FVG close at that level. Its a great time to buy puts on SPY on short!
This is a quick update on daily vs weekly demand zones. I also kept my demand zone from the past that was noted from May 23'. We are at the start of the buy zone on the daily. I did look back and we are about at the average correction for a bull market correction for tech driven indices. I believe this stops soon if Apple and Amazon earnings are neutral or...
Mentioned this in the NQ post, ES is not oversold yet on RSI or MFI. Recommend waiting until tomorrow to buy the dip, though gap direction may depend on earnings. AMZN tonight, QCOMM tomorrow, AAPL on Thu afternoon.
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Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major),...
Stocks have survived a standard Ichimoku cloud pullback and the bull run off Volume Profile support of 4979. Price has recovered up to the 50% Retracement (Kijun Sen) of the move down. 5148 = 50% Retracement Resistance and price this week is responding to it. The Volume Profile Resistance above it is 5167. These are the levels to conquer to resume the 2024...
going over the overnight session ES looking for clues as to how to trade the morning session. always know where you'll get out if you're wrong.
We closed the day just 2 ticks from the open. That is the definition of consolidation! There was one setup to speak of and I think it was a pretty high probability one. The opening gap acted as a magnet to give the setup more conviction.
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 price action for the DAy ES 4-29-24. market still in consolidation mode after thur/fri massive runs. looking for clues and how we could have traded better today.
MFI overbought but RSI is not yet. Guessing pump and dump tomorrow, I'll wait.
Going over the price action ES Morning session Reflecting on the clues the market gave us and what we should have been listening for.
It seems that the It seems that the downward trend is still dominant and there is a higher probability of a decrease and there is a higher probability of a decrease