4 hrly chart; channel to upside broken; then channel to downside broken down too.
ES hit the bottom trendline, but like I said last week, I'm not going long until both RSI and MFI hit oversold. Quit frankly I'm scared to hold any long position overnight, so probably just gonna day trade tomorrow if it does go oversold. I didn't post this morning because I wasn't quite sure what the market was gonna do, MFI hit oversold premarket, but the...
The S&P futures is quite weak after strong USD retail sales data. This move opposes a rational reaction to data that came out better than forecasted by a good margin. The market is pulling back and continuing the bearish momentum from the previous week. This may have to do with the conflict between Israel and Iran, this retracement back down. Oil is pushing up and...
Going over the price action ES overnight looking for clues to what the market wants to do. trying to listen more to the market and think less. no trade setup no trade.
Bull count in green has wave 4 complete with a double-three, bulls need to hold 5150 and break above 5243.50. Bear count has leading diagonal 1 in progress, needs 51550 support to break and 5243.50 resistance to hold.
**SP500:** The price is expected to fall to the zone between 5140 and 5100
Trading Plan for Monday, April 15th, 2024 Market Sentiment: Highly uncertain due to major geopolitical headline risk over the weekend. Expect significant volatility and potential for large gaps up or down at the Sunday open. Important Note: The escalating tension between Iran and Israel has the potential to cause significant market disruptions. BE PREPARED for...
Going over the price ACtion ES from Sunday Night. looking for clues as to what the market is telling us and if there are any A+ Trade Setups. no setup no trade Monday.
Boy the market is moving fast. RSI already hit oversold. Closed out my puts, going all cash for the weekend. If Iran doesn't do anything, we'll probably see another pump Monday, lol. Crazy whipsaw market, pay attention to the channel I drew (unless Iran actually does something)
In this video I cover my thoughts on the week ahead. I touch on some of overall sentiment but, this video focuses on the week ahead as I take you through my weekly preview practices. This is shortened down version of how I like to prepare but, it should give you a good idea of what I look at before the week starts. We the following concepts: Chart analysis ...
[Weekly plan: ESH2024 NYSE:ES FUTURES 4/14/2024 5250 >> 5297 >>> 5333 Weekly pivot: 5181, Now 5166, Weekly open TBD 5134>> 5093 >>> 5057 ------------------------------------ Based on the provided levels for the ESH2024 futures contract, here's a weekly trade plan focusing on trading from the pivot to the upside or downside targets: Weekly Pivot:...
#ES zoomed in 15-minute chart showing more focused price action and important levels
#ES plan for Monday. #Bullish setup - #ES reclaims 5177 which would be failed breakdown of the yellow bull flag. Then #ES works is way up to the VPOC at 5202 #Bearish setup #ES loses 5163 which would be a breakdown of the white rising trendline. This would target 5134-5136.
Based on the fundamentals that we saw coming out on Friday, the market response in the S&P 500 is an anxiety attack based on a nervous outlook for the market. I do not look for a dramatic move lower on Monday without new fundamental information to create an increase in anxiety.
I think video, I covered an awesome pullback day. Where we could've entered, what the week looked like to me and what I expect next week without doing my weekend analysis.
At the last new ATH I published a suggestion that we had hit a major top. That we might continue down for a while... It happen on a 2 hour chart we are in wave c down. PTs in blue at Fibonacci levels, with Squeeze stochs changing to strong selling. These levels match Pivot Point levels S5, S6 and beyond. But i don't expect us to go beyond S6 and stay there...
Last Week : Last week to start the week we attempted the move under VAL but only had enough selling to break under and come back in which gave us another rotation higher back towards VAH. We needed more supply or stronger sell Volume to come in to attempt a move at the lower Edge. We knew going into the week that we had Supply/Sellers at/over VAH and buyers...
Rapidly approaching oversold, lol. Really odd market though, gold and oil gave up the morning pump, it;s like everyone's just going cash, bonds are up. Also, PCAR got the gap fill despite the market, didn't play it because I didn't think the risk was worth a buck movement.