Trading Plan for Thursday, May 2nd, 2024 Market Sentiment: Uncertain, with bulls holding a precarious position at a critical support level. Key Supports Immediate Supports: 5048-50 (major - note that this trendline rises daily), 5032, 5028 (major) Major Supports: 5010 (major), 4968 (major), 4938-42 (major) Key Resistances Near-term Resistance: 5077-82...
WTF was that? LOL, Powell pump and dump in just one hour. I know I keep saying Fed days always whipsaw, but that was ridiculous. Futures up a little on QCOM earnings, Europe might bounce overnight, sold of hard this morning, more whipsaw. Anyways, it messed up the indicators, so no trading until things go overbought or oversold. Taking the rest of the week off.
This ES1 chart is the six + Europe and Asia trading sessions. this hasn't corrected properly in over a decade.... and this is what it looks like when they print trillions out of thin air, as "aid for Ukraine" which is then spent entirely on weapons or infrastructure supplied by our military industrial complex. we were warned about this shit. Orwell,...
Looks to me like the algos are going for the pump and dump. Gap direction will depend on AAPL earnings though so I'll wait to see what happens. MFI probably hits overbought tomorrow either way
Indicators are neutral but MFI rapidly approaching overbought. Quite frankly, I'm bearish on AAPL earnings this afternoon anyways
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...
With the Fed making announcement on Wednesday, volatility would be expected in the S&P 500. A change in the feds attitude towards interest rates being high longer is not expected.
SP500 open with a gap down. going for a long position before it continues its trend downwards. Entry: 5052.25 Stop Loss: 5040.75 Depending on how movement is my first take profit is ( 5072.25 ) Full Take Profit: 5086.25
Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major),...
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...
While technical have us in the daily trigger zone for a another bearish leg, I think future contracts and overall market sentiment is set to consolidate. There is some confusion amongst investors but, with a bearish bias overall. A break and close below a previous day low will help technical to begin a second leg.
With bullish price action this week, some sort of retracement is considered healthy and with 5229.75 in the cards for a draw of liquidity, next week will be interesting.
Weekly plan: ESH2024 NYSE:ES FUTURES 5/12/2024 5280 >> 5307 >>> 5334 Weekly pivot: 5250, Now 5238 5224>> 5173 >>> 5146
overall market comment Markets clearly proved me wrong this week and right now the only question is how high this squeeze goes before we reverse. Dax already made a new ATH and it does not look like it’s going to stop anytime soon. For the sp500 & nasdaq markets tried multiple times on Friday to melt up on big volume but some bigger institutions stuffed the...
- 3 Failed tests on 4h timeframe - Price breakdown (hourly bear flag) - Price targets: 5226.75, 5153.75, trailing stop - Stop Loss: 5350 (break into ATHs)
- Strong rejection of a key level - Bearish structure formed at top of range - Possible exhausted bull run?
Going over the morning session ES looking for clues and how we could have traded better today.
The S&P500 index is preparing for its last wave up to fresh new highs. Crypto will also outperform all assets. After the blow-off top phase the "real" recession will begin.