We have three complete impulse waves off October 2023 low of 4173.25. If these three waves are themselves to complete a primary impulse wave up, then I would expect a correction to begin soon, with price not going above 5301. If there is more impulsive price action coming, then something else (not necessarily bullish) is going on. Key support levels are 4936.50...
Going over the morning Price Action ES. calling out what we see and our plan. which stocks we're interested in and what we think for the next few hours.
Going over ES price Action Overnight. what do we see and how do we want to trade today. Mondays have been pretty choppy lately. not expecting much today. letting Price do its thing. focusing on the leaders and setups. no setup no trade Monday.
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The prospect of a home run is tempting to think about, but is it reality?
Here's an inside look.
Going over the Price action on Sunday. we broke out of a bull flag last friday and now we're filling in the bull flag. expecting chop on monday. giving price the room it needs for discovery and not expecting much for the trading day. will revisit price action in the morning.
Welcome to the Weekly Trading Plan, where we dive deep into market and volume profile analysis to navigate the dynamic landscape of trading. Each week, we dissect key market trends, identify significant support and resistance levels, and leverage volume profile insights to uncover optimal entry and exit points.
Our approach blends technical precision with a keen...
The last major two lows generated a possible channel bottom. In Sept 23, shorts broke a major level and rushed for the break of that line for a 3rd time. Really scary. They almost got it, but then the rally happened. Now we are out of balance to the high side, and have hope we can go higher, but not before we take a soft landing, IMO.
Based on the channels...
On Friday, U.S. stocks surged to record highs, driven by a technology stock rally focused on AI. The Nasdaq achieved its second consecutive closing record, led by AI-related firms like NVDA and META. February marked the fourth consecutive month of overall gains, primarily attributed to AI and positive effects on semiconductor stocks. NVDA reached a $2 trillion...
ES initial thoughts on PA and weekly profiles alone. Bulls maintained the previous excess high, and we spent most of the week building value in the prior weeks upper distribution.
There will have been a lot of stops above this excess high.
does it mean sell? not necessarily. we're building value at higher prices on a week by week basis
the market established value...
With the Dollar set up to run on short term buy stops and CME_MINI:ES1! trading @ all time highs, a healthy pullback would be logical to expect.
5050 is the daily previous all time highs and even is we were to reprice down there, it doesn't mean that our bullish narrative has disappeared.
First area in price of interest is 5080 with 5066.50 being the end...
Every guy on youtube is saying "its time to crash, recession mcdonalds prices, wendys surge price, tech layoffs, banking crisis, civil war, world war three, inflation is BACK, Look out below, The crash has just begun, we were never in a bear market, until NOW!"
It is so tiresome.
But this is what they are all looking for so I guess keep this in the back of your...
The strong close on Friday and the S&P 500 created a technical uptrend in the S&P 500. Follow-through be expected on Monday but not a large range day. Look for the market to catch its breath on Monday.
Going over the ES price action for today. took as many buy setups as we could. some worked some didnt work. overall the market just grinded higher all day long. best trades were the buy setups on strong stocks.
