Correction Ahead Based on Pivot analisys and Trend Line crossing down we cna expect some correction ahead for S&P dor next Days. Shortby diego.fransozi0
ES UpdateNot actively trading but took a look for my followers. Indicators are not oversold yet, wait for one more drop if you plan to play the bounce. Be careful playing the dip though, AAPL could lose support and my favorite stock, PCAR, took a shit today.by hungry_hippoUpdated 336
Trading Plan for Wednesday, April 10, 2024Trading Plan for Wednesday, April 9th, 2024 Market Sentiment: Volatile and uncertain. CPI came in hotter than expected, increasing the likelihood of continued aggressive actions by the Federal Reserve. CPI Data and Impact: CPI rose 0.4% for the month, resulting in a 12-month inflation rate of 3.5%, surpassing expectations. Core CPI also accelerated 0.4% monthly and 3.8% year-over-year, exceeding forecasts. This suggests inflation remains persistent and could pressure the Federal Reserve to maintain a hawkish stance with higher interest rates. Key Supports Immediate Supports: 5256, 5246-50 (major), 5230-34 (major), 5221, 5213 (major). Major Supports: 5207, 5203, 5192 (major), 5181, 5171, 5162-64 (major), and many more. Key Resistances Near-term Resistance: 5262 (major), 5274-76 (major), 5288 (major), 5302 (major), 5351-54 (major). Major Resistances: 5312 (major), 5374, 5386 (major), 5406 (major), 5441 (major), and more. Trading Strategy CPI Volatility: The hotter-than-expected CPI numbers will likely continue to generate market volatility. Exercise extreme caution and adapt your trading accordingly. Focus on Reactions: Patience is essential. Look for failed breakdowns and reclaims to identify potential entry points. Long Opportunities: Prioritize reclaims over direct bids at major supports. Consider longs if major supports like 5246-50, 5230-34, or 5213 hold after potential dips, but only AFTER a failed breakdown and convincing reclaim. Deep dips to 5162-64 may warrant small knife-catch longs. Short Opportunities: While counter-trend shorts are generally unadvised, those inclined may try shorts at 5302 and 5350, BUT with enhanced caution as even major resistances can be blown through after news events like CPI. Bull Case Bull Flag in Play: The bull flag with support at 5191 and resistance at 5274-76 remains relevant, but the hotter CPI makes a clean breakout less likely. Holding Support: Bulls could still maintain control if 5230-34 holds any dips or if lost levels are quickly reclaimed within approximately 15 minutes. Bear Case Breakdown Signals: A failure of the bull flag support at 5191 (initiated) increases the likelihood of a more significant bearish move. As with ALL breakdowns, be wary of traps – look for a bounce/failed breakdown first, then consider shorts at 5189 for a move down the levels. Increased Fed Pressure: The hotter-than-expected CPI reading strengthens the case for the Federal Reserve to maintain its aggressive stance on interest rates, potentially leading to further downward pressure on the market. News: Top Stories for April 9th, 2024 CPI Impact on Markets Hotter-than-expected CPI raises concerns about inflation and the Federal Reserve's potential actions. Market volatility surges as traders reassess expectations. Treasury Rates & Fed Policy US 10-Year Treasury yield could hit 4.5% on inflation concerns. Fed Chair Powell emphasizes need for inflation cooling evidence before rate cuts. Bowman suggests further rate hikes may be needed if inflation stalls. Individual Stocks Tech and growth stocks may be particularly vulnerable to rising interest rate fears. Defensive sectors such as consumer staples and utilities could receive favor. Reminder: The CPI report has fueled volatility and uncertainty. Prioritize risk management, react to price action, and adjust your trading strategy accordingly!Shortby spytradingpro0
Trading RangeLikely retest the breakout levels of the S&P and enter into a trading range for the remainder of the year.by AlSmith220
Pre-CPI: Main WatchThe index is trading into a near-term resistance zone ahead of CPI... The reaction versus this zone is the main watch heading into the print. Buyers are looking for a breakout, sellers want to defend this zone and see price trade down into last week's low. Longby OpinicusTrades0
REviewing Overnight ES price Action 4-10-24 CPI today Going over the morning price action ES looking for clues on how to position for the CPI today. always know where you'll get out if you're wrong. we are Risk Managers01:31by BobbyS8130
CASH (DOLLAR) IS TRASH... S&P performance vs gold and bitcoin The stock market had a monstrous performance in recent years and continues its secular bull run but If you compare it to gold it performs quite normally...and if you compare it to Bitcoin it has a disastrous performance. Looks like those monstrous performances of the stock market are mostly caused by the dollar devaluation rather than anything else by frapelloso0
New ATH Post CPI comingThats my most likely senario for CPI (mom expected +0.3) could be in line which could be positive catalist for market. 5230 CMP is the entry nowLongby HexacapitalUpdated 0
S&P 500 E-Mini (ES_F) Needs Validation for the Next Leg HigherS&P 500 E-Mini Futures rallies in an impulse structure from 10.27.2023 low. Up from there, wave 1 ended at 4607.75 and pullback in wave 2 ended at 4548.75. The Index then extended higher in wave 3 towards 5333.5 as the 1 hour chart below shows. Pullback in wave 4 unfolded as a zigzag Elliott Wave structure. Down from wave 3, wave ((a)) ended at 5235 and rally in wave ((b)) ended at 5308.50. Index then turned lower in wave ((c)) towards 5191.37 which completed wave 4 in higher degree. The Index has turned higher in wave 5, but it still needs validation by breaking above wave 3 at 5333.5 to rule out a double correction. Up from wave 4, wave (i) ended at 5272.50. Pullback in wave (ii) unfolded as an expanded flat where wave a ended at 5236.5 and wave b ended at 5274.25. Wave c lower ended at 5208.25 which completed wave (ii). Near term, as far as pivot at 5191.37 low, expect pullback to find support in 3, 7, or 11 swing for further upside. If it breaks below 5191.37, then the Index would do a double zigzag and should see support at the next extreme area.by Elliottwave-Forecast224
The stage is set for CPIThe stage is set in the S&P 500 for Wednesday's CPI report. The bias for this market is to move higher but it's important to keep in mind when this result comes out the market reaction is 50-50.01:55by DanGramza3
ES Price Action Review 4-9-24Going over Price action for the Day ES looking for clues and what the market is telling us. 03:33by BobbyS8130
Could this be the top, a topThe landscape is littered with people shorting, and people who have claming "we're going down". To go down we need some news, over the last 10 years often bad news has driven the market up so many times.. Regularly we hit a new all time high every few days... So I am only suggesting something has shifted, we have had two weeks of selling. Other than news what could send us down, well of course "Paper" Wall Street Insiders could send us down, Paper selling all day long, and day after day is a distant memory, but that could do it. Keep your eyes shart, and be careful. It could be a significant top. Shortby dryanhawleyUpdated 0
SP500**SP500:** New all time high at 5334. Last week closed with a reversal candle, this week the price has fallen, indicating the start of a bearish trend. The price is expected to fall to the zone between 5120 and 5080Shortby simaoxceps1
Trading Plan for Tuesday, April 9th, 2024Trading Plan for Tuesday, April 9th, 2024 Market Sentiment: Consolidating within a tight range. Expect a breakout or breakdown with the potential for increased volatility. Key Supports Immediate Supports: 5246, 5232-35 (major), 5221, 5212, 5207 (major). Major Supports: 5196-98 (major), 5181, 5172 (major), 5155 (major), and many more. Key Resistances Near-term Resistance: 5256, 5262 (major), 5274, 5285 (major), 5294, 5302 (major). Major Resistances: 5308 (major), 5327-30 (major), 5348 (major), 5379 (major), and others. Trading Strategy Rangebound Consolidation: ES is forming a tight base between 5235-5263. Exercise patience and prioritize either tactical adds on support tests/failed breakdowns OR hold a runner position with the trend. Long Opportunities: Look for bids at 5246 and 5232-35 (prioritize the latter). Consider dips below 5232 to 5207 or 5196-98, especially if followed by reclaims. Stick to level-to-level profit-taking. Short Opportunities: While avoiding counter-trend shorts is generally advised, those inclined may consider potential shorts at 5285 (red downtrend resistance) or 5302-08 for dips. Bull Case Holding Support: Bulls maintain control as long as the 5232-35 zone holds. If it does, consolidation continues, likely forming a bullish triangle for another push toward 5274, 5285, and potentially 5302-08. Adding on Strength: If ES bases above 5246 (with dips below recovered) while staying under 5263, consider potential adds. Bear Case Breakdown Signals: A failure of 5232 triggers the bear case. Remember, most breakdowns are traps, so look for a retest and failed breakdown of 5232 first, then consider shorts with level-to-level targets. News: Top Stories for April 9th, 2024 Economic Indicators CPI and PPI data in focus for inflation insights. Bond market signals potential for stable interest rates. Corporate Earnings Big banks to release quarterly reports. Interest Rate Decisions Bank of Canada and ECB announcements could impact FX and indices. EU Joint Borrowing Plan Success of the EU plan could inform future fiscal tools. Corporate Events Blackstone's potential buyout of L’Occitane. Reminder: Expect a breakout from the current tight range, potentially with volatility. Focus on reacting to price action, prioritizing risk management.Shortby spytradingpro0
"Still here"The index shows consecutive inside bars on the daily timeframe chart as price oscillates between the 61 and 38 fib retracement levels Watch for breakoutLongby OpinicusTrades0
ES OverNIght Price Action Review 4-9-24Going over the price action ES looking for clues. trying to listen to what the market is saying. take it easy today CPI tomorrow. 01:54by BobbyS8130
Projected upper, lower and close limits for market hoursUpper Price projection: 5,268.02 Lower Price projection: 5,226.36 Close price projection: 5,249.31 However, skews towards larger losses given relative position to 9-day SMA. Shortby DeclanFallon4b1
Quiet day on TuesdayWith the market focusing on the CPI numbers coming out on Wednesday, a quiet day in the S&P 500 is expected for Tuesday.01:03by DanGramza3
Market Recap: 3 Losses!!! What did I do wrong?Today I took 3 losses. It was a really bad trading day. I didn't really follow my plan on the day and took 2 unnecessary losses. The one loss of the 3 I can live with but, I have to do better. There wasn't much give from the market today. Editors' picks04:29by JoeRodTrades3232377
ES Price Action Review 4-8-24Going over the days price action. doji day consolidation. not much to do. days like today tests your patience skill set. 01:49by BobbyS8130
Trading Plan for Monday, April 8th, 2024Trading Plan for Monday, April 8th, 2024 Market Sentiment: Bullish with potential for volatility as CPI data approaches. Important Note: CPI data will be released later this week. Expect outsized moves and potential traps. Prioritize risk management and adaptability. Key Supports Immediate Supports: 5246 (major), 5230-34 (major), 5221, 5212, 5207, 5203 (major), and others. Major Supports: 5196, 5191 (major), 5181, 5179 (major), 5172, 5162 (major), 5155, 5144-46 (major), and many more. Key Resistances Near-term Resistance: 5255 (major), 5263, 5270 (major), 5279, 5287, 5292 (major), and others. Major Resistances: 5302, 5308 (major), 5311, 5316, 5321, 5329-32 (major), and more. Trading Strategy Defending Support: The 5230-34 zone is crucial for bulls. Holding this level signals potential for an upwards move toward 5287-92, with possible profit-taking dips along the way. Long Opportunities: Focus on the 5230-34 zone (if today's high remains unbroken). In case of a breakdown, use extreme caution and target major supports like 5203 and 5191. Look for failed breakdowns and reclaims as potential long entry signals. Shorting with Caution: Shorting into strength within bull markets is inherently risky. If considering shorts, the best area is the 5287-92 zone (red downtrend channel), with another potential reaction at 5270. Bull Case Holding Strong: As long as 5230-34 support holds (ideally with a minor dip promptly bought below 5203), the path is open to 5287-92. Expect another dip there before potentially reaching new all-time highs. Ultra Bullish Scenario: If bulls hold above 5246 and buy any small dips, this signals strength and could lead to potential adds. Bear Case Breakdown Signals: If 5230-34 fails, the bear case activates. Since most breakdowns trap, look for a bounce/failed breakdown first, then consider short entries with level-to-level profit targets. News: Top Stories for April 8th, 2024 Stock Market Outlook S&P 500 hits record highs, strong Q1 performance increases bullish sentiment. Reduced recession fears and potential Fed pivot drive positive outlook. April historically favorable for the S&P 500. Analysts forecast strong earnings growth with significant upside potential. Corporate Earnings Intel's Q1 2024 financial results release set for April 25th. Perion Network updates guidance, increases share buyback. Economic Indicators Q4 GDP growth remains solid despite high interest rates. Bond market signals potential Fed rate cuts as early as June. Trade deficit widens, while manufacturing data shows strength. Technology Sector Modest growth expected in 2024, with IT investment plans. AI, cloud computing, and cybersecurity to drive tech spending. Other Corporate and Market News Nvidia's strong performance continues in AI chip market. Tesla faces challenges in China, automotive growth slows. Boeing impacted by quality control concerns. Upcoming Events Tech conferences including Google Cloud Next and ODSC East. Women in Tech Global Conference highlights industry leaders. Reminder: The CPI release this week will likely cause significant volatility. Adapt your trading accordingly, with an emphasis on reacting to price action and prioritizing risk management.Shortby spytradingpro0
Pre-Markey Prep ES/SPXPre-Market Prep My plan today SPX levels: my main level is 5207. If we open above 5207 and stay above 5207 we can test 5215 with 5222 and 5231 (this is my preferred move at opening, then adjust). If we open below 5207 and stay below 5207 we can test 5198 with 5193 and 5189. Stay Frosty! Long51:39by Beyond_Charts0
Overnight ES Price Action REviewGoing over the over night session looking for clues coming up with a plan for todays price action.01:32by BobbyS8130