So, just thought I would check in overall after I had several messages asking me what I was up to recently since I have not posted. Just to note, all trends are basically in an uptrend of higher highs and higher lows. Some of the longer term trends haven't struck in some time. Heck we haven't had a Daily downtrend in months and are still operating off the Daily...
Large RTH gaps have a tendency to be closes quickly! This is the third time I seen a gap close in the last week. Remember check the RTH after before the NY open.
In overnight action ES gives us another example of retracement after a breakout. don't give in to FOMO
New Quarter New Goals. going over Price action Overnight ES
LVN entry in-between double distribution of the SP500 . This entry has a 2.51 RR potential with just 10 point SL and 103 points TP. Trade will be executed on both ESM24 and MESM24. Most ideal place for and early exit or TP1 would be the top of the VRVP If trade fails and price gaps down through the Low volume area, then the next potential good entry will be...
So far, S&P 500 is playing out the way it should. Wave 3 of 3 of 3 should be nearly complete. It can top out here or can hit 5400- 5450 before the minute wave 4 correction. End of April and early May should see the minor degree wave 4 correction that could bring a decent 5% to 7% downturn. But, the big one could be in the bottom half of the year. depending on...
Going over the weekly Price Action ES and what are plan is going into the 1st week of April with NFP on this upcoming Friday.
NYSE:ES is currently stronger than NQ, consistently making higher highs and higher lows. Typically, after each high and low, ES retraces within that range, finds more buyers, and continues the trend. At present, we haven't retested the previous higher high at 5257, so I'm not interested in longs until we have a defined retest of the prior higher high, or zones...
The newish TPO charts are a great representation of the thory of Market Profile. TPO charts give you an idea of when buyers are stepping in and when a move up or down is running out of steam. Here is my take on last week's ES and how I will go into Monday. Since the spike on 3/20 Fed meeting, the market has been in a balance from 5322.75 down to 5263 and all of...
Analysis of June contracts , Monthly buyside liquidity has been taken in past weeks . Daily FVG is still holding the bullish scenario. number of news events occuring this week will keep the market volatile.
Bull vs. bear counts for ES1!. Bull count has ES1! in wave 5 of 3 of 3 of 3 of 5. Wave 5 should (or has already) complete below 5443.75, with expected pullback towards 5100-5200 area. Bear count has ES1! in wave 5 of C of Y of B, with market top below 5443.75 and wave C of primary wave 4 incoming (bottom projected below October 2022 low, above 3000).
Fun little thesis i denoted with fib extensions that would lead us up to november election
Trading Plan for Monday, April 1st, 2024 Market Sentiment: Cautious, price discovery ahead of reopening after long weekend Weekly Volatility Risk: High (price discovery holiday, heightened with geopolitical backdrop) Supports to Watch: Immediate Supports: 5307 (major), 5299-5302 (major), 5293, 5287 (major), 5280, 5275 (major), 5270, 5261, 5267, 5252 (major),...
The bias for the S&P 500 remains bullish. However, the price structure as the market finish trading for the week is potentially bearish as discussed in the video. Although will be closed on Friday it will be interesting to see how the market reacts to fundamental information on Friday when it opens again 5 o'clock Chicago time Sunday night.
Good evening and i hope you are well. sp500 e-mini futures bull case: Bulls got the more up but barely. The high today was 3 points below the ath and that qualifies as a double top. Do we trade down from here? I don’t know. If bulls can keep it above 5300, it’s as bullish as it gets. Many support lines below on the chart and bears not doing enough to make...
The market can be viewed in cycles. A- Accumulation M- Manipulation D- Distribution x- R/C reversal or contiuation then it repeats.
Going over the price action Morning Session. we are breaking higher out of our flag but not many A+ trade setups. lowering Risk and considering calling it a day early.
Inflation numbers tomorrow, MFI will go overbought Monday regardless of which way it gaps. Staying cash for now, since I missed the big pump yesterday afternoon.