YTD VPOC held nicely as support... A main LOI we had on watch for today So far price has retraced >61% of yesterday's sell
Job data this morning caused a movement exactly as I anticipated and discussed yesterday. The move lower I suspected came yesterday as I anticipated, so now I'm just looking to see if we can move below this 5204 12hr support line. To date, the 12hr has been the major support level to stop any movement down since November which is why we have not seen a Daily trend...
Reviewing the morning Price Action from NFP and looking for clues to what the market is telling us and how we could have managed better.
Trading Plan for Friday, April 5th, 2024 Market Sentiment: Extreme volatility expected due to the recent selloff and NFP data release. Caution and adaptability are crucial. Important Note: Nonfarm Payrolls (NFP) was released at 8:30 AM (EST). Expect outsized moves and volatility. Avoid predictions, and look for failed breakdowns as potential trade entry...
My plan today for SPX levels: my main pivot point is 5164. If we open above 5164 and stay above 5164 we can test 5180 with 5185 and 5200. (this is my preferred move at opening, then adjust). If we open below 5164 and stay below 5164 we can test 5151 with 5145 and 5134. Stay Frosty!
Longer video but hopefully it clarifies my position in the market. I do NOT have a short position yet, but I am looking for one at this point. I might wait until either the close of the day depending on where we are OR take a short position if the overall day goes negative. Trends into today; Last Macro Trend Signal Spots (ES Contract) 30m - 5724 Uptrend...
We had a massive Price Move today. Lets review and look for the clues the market was giving us and what we should look for next.
double down on your MA to get better vission. The vision is yours as is the world of knowledge. Consider all time frames when making a decision.
Dress up our charts for better vision! Utilize Both MA to get more analytics.
(Possible) temporary top looks in. Bulls (in green) looking at zigzag to complete wave 4. Bears (in red) looking for formal impulse wave down.
The stage is set in the S&P 500 for Friday's job report. On Thursday the S&P 500 overreacted to comments made by the Fed presidents. When you have this type of report on Friday, the market reaction on Friday is 50-50.
I talk about pump and dumps all the time, you can see that they did a low volume premarket pump and dumped on volume today. It's too bad my 3 hr indicator didn't hit overbought on the pump, I was waiting for tomorrow to buy puts, lol. It's funny how I said yesterday that I had no clue what was gonna happen today. Well, today would've been really hard to...
Spy heading toward pervious support with the confluence of 200 moving average very good spot in term of risk and reward ratio Buy weakness sell strength Keep it simple
Wow, RSI hit oversold already. I couldn;t figure out what was gonna happen yesterday, and there's really no way to have predicted this, lol. We could see a bounce, but I'm not playing it. Staying cash.
Sorry, slept in and missed all the fun. Appears the algos are indeed doing the pump and dump regardless of intraday action. Why pump the market during the day when it's so much easier to do premarket on low volume? (Kinda reminds me of those meme stocks, lol) Not gonna short anything until it gets overbought on RSI which should happen tomorrow on Ponzi Friday....
Didn't post this weeks prep since last weeks was still in play but wanted to post an updated chart for a better visual of PA around the levels and structure we have been forming since last week. As mentioned we had this area under the Mean to fill out once we had the supply to do so, it took some time but we created the Supply for it and now are trading around...
ES now back into last week's VPOC - Full circle move. Can buyers show a retest of the near-term range high?