Going over the price aCtion ES overnight and from the last couple weeks. looking for clues and trying to listen to what the market is telling us. We ARe risk managers first.
Trading Plan for Tuesday, April 16th, 2024 Market Sentiment: Uncertain, with geopolitical headlines and market volatility remaining dominant factors. Key Supports Immediate Supports: 5102-05 (major), 5092 (major), 5079 Major Supports: 5067 (major), 5050-52 (major), 5039 (major), 5000 (major) Key Resistances Near-term Resistance: 5115, 5126 (major), 5136-39...
All 3 indicators are oversold, but quite frankly I'm not very bullish. I'd rather short the pumps at this point. Probably not trading tomorrow. My best guess is that Israel will attack on April 26th, because it's my birthday, lol.
We've been making lower highs for a while. If this pattern is to hold we'd have optimal shorting entries here. We are rallying strong into the 76 retracement, triggering a possible 76 reversal:
The S&P 500 is bearish and heading towards the price zone of 4499.50 and 4430.50 before rising to create a new all-time high." Cela semble indiquer que vous prévoyez une baisse temporaire du S&P 500 vers les niveaux de prix mentionnés, avant qu'il ne reprenne sa tendance haussière et crée de nouveaux sommets historiques. User traduit moi ça en...
We might be in bearish Elliot waves here on ES / SPX. If we are, there's a good chance we are at a low point now and due to enter into an ABC correction. A two leg spike with a bear trap (But no new low) in the middle. Sets up a possible high RR short on the C point. Most of the previous short forecast has hit now.
Although 15 April was a bearish day, and the daily price action continues to give us lower lows, I think the possibility of a leading diagonal is now less likely. 5213.25 is now key resistance, and I anticipate that resistance to hold and at least one more daily lower low before a bottom is found.
After the drop in the S&P 500 on Monday, and inside day would be expected unless we get surprise fundamentals for continued weakness in this market on Tuesday.
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
S&P500 Futures ES Priority way on 15.04 - long These posts are recommendations for building trading ideas for the day. All recommendations are based on personal experience and analysis of incoming market data.
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.