The video explains it all a lot better, but basically, we are sitting with higher highs and lower lows on the trend timeframes that brought us here (30m-4hr), otherwise known as the Pac-Man symbol. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5083 Uptrend (4/25/2024) Higher High 1Hr - 5083 Uptrend (4/25/2024) Higher High 2Hr - 5131...
Trading Plan for Wednesday, April 24th, 2024 Market Sentiment: Uncertain, with bulls maintaining control after yesterday's rally but price action becoming more complex after a trend day. Key Supports Immediate Supports: 5095-5100 (major), 5082, 5076 (major), 5067 Major Supports: 5056 (major), 5047-45 (major), 5027 (major), 4996-5000, 4966 (major), 4945-49...
Earnings may push the S&P 500 higher on Wednesday. 5135 would be the next price objective that you'd want the market to close above.
Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034...
Here are my levels for this the coming week. ES had a sharp reversal last week bouncing 2.56% after trading down for 3 weeks in a row. Dispite the strong rally the risk of bearish continuation remains high. A rejection at the top of the red box could easily send price into a compound corrective move down to the 200 sma and the July 27th high. Much depends on the...
E-mini S&P (June) / E-mini NQ (June) S&P, yesterday's close: Settled at 5047.50, up 43.75 NQ, yesterday's close: Settled at 17,350.00, up 169.25 E-mini S&P and E-mini NQ futures broke a streak of six losing sessions. Yesterday's rally was broad, with chips like NVDA and MU rebounding firmly, and banks having a day, but it all comes down to earnings before Core...
Going over the day's price action ES looking for clues as to what the market was telling us and how we could have traded better for next time.
Out buyside target from yesterdays related analysis, ESM2024 5121, got in fact hit overnight :)
The " Volatility Valuation Index " proved to be quite reliable ... again.... Mind you this is a SETUP tool, to locate EXTREMES in Volatility. It is NOT a SIGNAL tool, to be used for entries / timing. That said, its accuracy sometime can be impressive. But even under these circumstances, I do not use it as a timing tool (Works across all markets & timeframes)
The S&P 500 is in the neutral zone trade with a bullish bias. The expectation for Tuesday is for today range trading inside of Monday's range with a higher close.
The previous day's low (5038) is currently supporting the bulls. Interestingly, we have not been able to break through the overnight high (5057) yet. A breakout above it can set new impulses, with the next targets being the upper #BouhmidiBands (5069) and the previous day's high, which is even higher at 5095. However, a break below the previous day's low (5038)...
NQ and RTY filled the gap from yesterday, but ES still has a small open gap. Also, MFI isn't moving much. I see lots of stuff in the red as well. Running errands today, staying out.
MFI went oversold last night, but there's also an open futures gap. Don't have time to watch the market today so I took the easy money and cashed out. I think it'll double bottom before going up because of the open gap. Guessing TSLA tanks on earnings. Gold down big caused Brazil (EWZ) to go red. Barely made any money on those calls.
I'm seeing EWT numbers as high as Fibonacci 1.618 or 5443.75.... However my knowledge of the pivots tells me, we are at just about at S 4.3 5009 and I think the market will raise. to R5 or R6 the normal Pivots cycle from daily lows, S5-S6 where we buy and daily highs R5-R6 where we sell. Kauai Dave's Pivots Traders.
Price action after thursday night's geopolitical spike returns to normal. After the spike the ES retraced to the 6pm open creating a text book ICT bearish breaker pattern. Reaching down to the NY Midnight opening price. Then bouncing up reaching into the first Pd Array above equilibrium (FVG) creating another bearish breaker pattern which re-established the...
CME: E-Mini S&P 500 Options ( CME_MINI:ES1! ) On March 24th, I published a trade idea, “Buckle Your Seatbelt for a Market Correction”, where I suggested that the US stock market was due for a major correction. Buying a Put contract on CME E-Mini S&P 500 Futures would be a trade to express this market view. How is this trade panning out? • On March 24th, the...
The S&P 500 is officially bearish as of Fridays close according to my intuition and strategy. I will be watching closely this week - targeting shorts around 5240. I expect to see a test the 5060-5000 level. A daily close above 5240 would be bullish and invalidates this idea. In the mid-term, I'm targeting key levels of interest to buy once this dip finds legs.