Friday's price action in the S&P 500 although slightly weaker indicates a lack of selling that was expected based on Thursday's price action. This means for Monday look for a sideways to only slightly lower movement in this market.
MFI heading down but RSI isn't moving much. That's an indication of a melt up. Closed my AAPL puts right after open, I was hoping for a gap down and didn't get it. Anyways, just a dip today, and small caps made a much bigger dip. Will go long when MFI hits oversold, probably Monday
Going over the Price action ES Morning Session. had some down side follow through but the market is still consolidating the large FOMC move higher. looking for lower levels of support to be tested and trying to listen to what the market is telling us instead of imposing our bias's.
Trading Plan for Friday, March 22nd, 2024 Market Sentiment: Cautious, watching key support levels Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5302 (major), 5298, 5286, 5282-79 (major), 5275, 5257, 5246-49 (major), 5236 (major), 5231, 5225, 5218 (major), 5212, 5208 (major), 5203, 5191-94 (major), 5179, 5169-71 (major), 5162, 5153-55...
Opened up three shorts earlier in the day and added three more two more times on the pullback
Context and Summary The big move on Wednesday continued through into Thursday’s NY open, expanding further to Wednesday 1.414 fib expansion, 5322.50. The market hovered slowing advancing for another re-test of those highs, but after a failure to break IB high, the books quickly reverse and sellers stepped in to bring price down to the pre-market lows, with some...
Going over Price Action looking for clues and trying to listen to what the market is telling us. Yesterday was a consolidation day. not many A+ trade setups but there were a couple. what's the plan for today???
Review of CME_MINI:ES1! Levels, March 21 Thursday NY session Volume through the NY session was slow through the day, except for the wild swings at the open and late afternoon. High of day "Premium" On our daily 15m chart, I had this labelled as the daily premium (Purple Box), at the 1.414 Globex expansion levell above, and 1.272/1.414 expansion of prior day...
Good Morning Traders, Closures below 4200 invalidate ES to new highs. potential reasons for this move: - humans are like new things - buyers outweighing sellers -Stimulus Measures: Government and central bank stimulus programs can inject liquidity into the financial system and provide support to businesses and individuals. Continued fiscal and monetary policies...
How confident is the S&P 500 going into this weekend. Thursdays action implies profitaking. Friday's close will be a barometer of buyers level of confidence going into the weekend if we have a strong close.
ICT bearish breaker setup. best way to anticipate change in market delivery of price when trying to determine when price will change direction.
I have studied all the timeframes, from 3 day to 3" we are going down off of a set of lower highs and lower lows, even though today was bullish I forsee selling down to 5153 oe even 5091 "1" and 1.618 fib extension.
Primary bear count has wave C at or near completion, with upper limit of 5443.75 (white line) for the count to be valid. This would complete the B wave of an expanded flat that started January 2022.
A strong end to Q4 Window dressing by fund managers who were underweight equities would trigger a cup handle pattern breaking the trendline of the pattern is around 4600 on the #ES I could also make an argument for HVF pattern we have a high 3 in place A recession will no doubt rear it's head at some point ... but a blow off top first to hand bears a...
Going over the price action REview Overnight ES looking for clues and trying to listen to what the market is telling us.
Expecting a large downside to unwind and target 5120 level or below. which is a good liquidity pool resting downward and we have seen a nice market structure shift after taking out the buyside liquidity
Trading Plan for Thursday, March 21st, 2024 Market Sentiment: Cautious, price discovery after breakout Weekly Volatility Risk: High (potentially elevated due to price discovery post-breakout) Supports to Watch: Immediate Supports: 5275-80 (major), 5266-68, 5260, 5251 (major), 5246, 5236, 5231, 5221-26 (major), 5217, 5212 (major), 5200-02 (major), 5196,...