ES has measured move AB=CD targets in the 5250 to 5425 and 6000 to 6150 areas.
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.
I have long shared my idea, based on 5 years of backtesting, that Fridays are usually down days and Mondays are usually up days. But since today is Friday and we have just reached new ATH, watch out for selling on Monday, at least until we reach these 4th wave levels, then we can go up on the next 5th wave.
After Being Bullish for 3 days and riding wave 5 up, we reachew new ATH. These are the brest place to short. new Targets on chart.
Price had a strong daily close today. Price disrespected the bearish orderblock by closing above it. I want to see discount H4/H1 levels respected to then look for M15/M5 bullish displacement to trigger long. Target PDH and PWH.
MFI went overbought. RSI isn't there yet... Kinda tempted to make at least a small play with put options, we'll see.
Going over the price action ES morning session. we held our support level and market making new highs on the day. keep looking for buy setups in strong stocks.
Just showing the daily plot, the reason why I'm so reluctant to go long is because there's so much MFI divergence on everything if you look at the daily. NVDA, PCAR (my fav, lol), every index, etc. There's still a chance that the algos pump it Monday to get 3hr and daily RSI into overbought territory. Holding off on any big trade until then. ECB meeting next...
Feels so good to be back home :) now lets get back to business. what an amazing few weeks that i missed. hoped you all made some great decisions.
Lets break down some structure and see if we can get clues and areas of interest for this week. Last Week : Last week we opened with a hold and consolidation under VAH of Previous HTF Range which built up enough Supply to give a sell to lower targets at the Mean and VAL, FED Minutes day we consolidated at at VAL with an attempt to break under which failed and...
Market Sentiment: Neutral Trading Plan for Friday Supports to Watch: Immediate Supports: 5093, 5087, 5078-80 (major), 5066, 5058 (major), 5052, 5041-41 (major), 5031, 5028, 5018-22 (major), 5013, 5009, 5004, 4998 (major), 4988 (major), 4976, 4965, 4956-69 (major), 4947. Resistances to Monitor: Key Resistances: 5100-02 (major), 5108, 5113, 5120-24...
Buyers are back in the S&P 500 on Thursday but can they continue with the positive close on Friday which is the expectation.