Friday Play for me according to Elliot Waves. let me know what you think
going over the day's price action looking for clues to how we could have traded today better. lots of action today from a series of reports at 8:30 to auctions to earnings after hours GOOGL MSFT INTC
So again, I cashed out my trade just above 5000 as we fell last night following the Israel drone strike against Iran. Most of that dip appears to have resolved itself, at least for the moment, but those geopolitical issues will likely be crucial to the potential of a market fall in the coming days. I go into it in the video, but major Earnings are next week, and...
MFI already oversold, but RSI is not. Considering ES has an open gap below, I recommend waiting. It's my birthday tomorrow, so not opening any trades today, good luck. BTW, this is why I keep saying earnings are crap shoots, lots of people got burned pumping for META (FB) earnings. MSFT and GOOGL AH today, but both gapped down last time.
Test test and test...more text to satisfy TV. This is just the latest indicator setup.
going over the Overnight and morning session looking for clues as to what the market is telling us and how we should be positioning ourselves. always remember we don't want complainers and whiners in our lives. get them out.
Guide to Structural Market Analysis Using Volume Profile Introduction: Here's a systematic approach to identifying market structure through Volume Profile Structural Analysis. By charting key levels on a higher time frame and refining entry/exit points on a lower time frame, traders can discern potential market movements and adapt their strategies accordingly. ...
Trading Plan for Thursday, April 25th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control. Key Supports Immediate Supports: 5088-92 (major), 5082, 5077 (major), 5067 Major Supports: 5054-57 (major), 5033-36 (major), 5005-10 (major), 4966 (major) Key Resistances Near-term Resistance: 5104 (major), 5115-20 (major), 5133-36 (major),...
ES looking like profit taking about to happen. Up at monthly pivot coincides with Q as well.
Capitulation begun from last Thursday and if you was short throughout the beginning of this week, you would be sure to have booked a healthy piece of that explosive movement. Not one day passed where ES printed bullish on the daily timeframe after last Thursday’s high @ 5257.50. Fridays bearish sell off was met by bullish resistance at the Jan 31 2024 daily...
Buyers came into the S&P 500 late in the session on Wednesday with the lower opening in Asia. Can buyers return to move prices higher to drive the market back to Wednesday highs and that is the expectation.
Working primary count has impulse wave from ATH at 5333.50 to 4963.50. Area in orange ellipse is suspect, so if this count doesn't play out, will likely need to go back and tease out this price action. Corrective bounce off low of 4963.50 appears to be an ABC zigzag. Looking for another impulse wave to complete a C wave or a 3 wave.
going over price action for the day Wednesday April 24th looking for clues to what the market is telling us. trying to put together the entire big picture to form our plan and take the right trades being on the right side of the market.
It sure seems that way. 5126 was the level where buyers would become sellers. It took sellers to become buyers in the first half of the week. Now, I think the market is weakened. Pre-market analysis will be key for trading in the next couple of days. Not a ton of setups today but, just enough to keep the degens going :D
I said yesterday that it would get overbought today and go down. Well, here we are. Made a little money with puts like I said I would. Indicators now neutral, META earnings probably dictates gap direction tomorrow. Just gonna stay cash and take potshots at the market with options. I'm guessing MFI will cycle fast like it did a a couple of weeks ago, just...
Going over the morning/lunch hours price action looking for clues as to what the market is telling us.
Looks like it'll hit overbought on MFI and/or RSI tomorrow, have an exit plan.