Weekly price Action Review ESGoing over the weekly Price Action for the ES. sharing what we found with our scans and our plan for the next day or 2. 03:40by BobbyS8130
Possible reversal AFter the attempted sell off this morning, market might be trying a fakeout reversal. I've got a buy order at 5193.50Longby NCHammerUpdated 0
Short ESWeak start for ES. Shorted at 5183.50 after retest of the box pattern and failure there Possible continuation of the weakness seen on Friday Shortby NCHammer0
SP500, Game plan.ES/SP500/US100 Hello Traders, Welcome back to another market breakdown. Today, I've got an exciting video for you as I dive into the current state of the S&P 500 and explore various strategies based on different market scenarios. Whether you're an experienced investor or just getting started, this video will help you better understand how to navigate the dynamic world of the stock market. Trade safely, Trader LeoShort11:49by Leo-btm2
Example of trading a short on flag pattern failureThe chart shows the setup. Wait for a bearish engulfing candle to form which breaks down out of a well defined range. Place a sell order at the lowest low of that rangeShortby NCHammer0
ES/MES Correction EstimatesVolume profile cannot lie. We are needling out, there is no oxygen up here, and this rally broke through the 50% line of this range on a total abstract squeeze. So... Bears see the fatigue and they see a rate decision in June. I have a chart of the Mag 7 only, because they are the real index. It's gone parabolic. And it has a weekly candle that is a big tall Doji. And the volume is even more of a needle than the indexes. The old market was boring. Mag 7 trade like small cap. They are the only thing that seems to matter. So, we have to accept that price swings will be huge and dramatic. So a drop to 3700, the bottom of the major volume range over this last few years, was a big deal ten years ago, but now? It's the new normal. I'm not saying I've done a good job trading it, I'm just taking a swing at it. This rally was terrible. It was ugly, jittery, low volume, squeeze after squeeze until we reached a fib level on this channel that we had not retested. Now that we have, and we're on zero volume, this this can correct. Mag 7 will correct. And it will be glorious. I'm very excited about the support and save at my 23% channel fib, but also, coordinates with swing low on the volume block we've made over 3 years. When that volume block saves us, oh baby the true rally on good volume can begin. Tesla has a gap on it's chart at 85 and I was like... wut? We really gonna go down there? But yeah, this will let it get down there. And there is zero chance it gets lower. Man... Wish I had more cash for June. Maybe I'll trade better on the way down.Shortby CaptainLogik0
Micro E-mini S&P 500Micro E-mini S&P 500, Supply and demand strategy, Futures, Short and Long Longby blaz860
ES/SPX Weekly Levels and Trade Plan 03/11 - 03/15Weekly Plan 03/11 - 03/15 Watch the 5120 Pivot Level Monday and especially Tuesday 03/12 (CPI Data) to see if Pivot gets rejected or taken and trade accordingly Sell Below 5120 Buy Above 5120by wasiheider0
ES1! evening updateDaily higher-high from last post completed. Green count has ES1! completing five-wave impulse off October 2023 low of 4236.25. Red count has ES1! needing one more daily higher-low and higher-high to complete what I'm interpreting as a C-wave and likely market top.by discobiscuit2
NFP ES Price Action ReviewGoing over the price action for ES NFP day. what a tough day. market is really amazing. never ceases to amaze me at its intelligence. trap move after trap move only to confirm the hot report. amazing. do your homework this weekend. replay the day. review all your trades. prepare for Monday we Go back to Battle.04:19by BobbyS8131
ES! on pressure ... big Sells start on NVDA + AVGO ES! on pressure ... big Sells start on NVDA + AVGO NQ close same as ES under TDO Trader waiting for correction Monday will show how is going . Shortby BLADERUNNER-20000
Profitaking FridayThe selling action in the S&P 500 on Friday could imply buyers taking profits before the weekend. The expected price action on Monday would be for the S&P 500 to trade inside Friday's range as the market gets ready for additional fundamentals coming out next week.02:47by DanGramza2
ES UpdateAs I posted last night, I'm bullish long term, but my short term RSI indicator appears to have gone overbought and now cycling down. The way to play this is to wait until RSI or MFI hit oversold and buy the dip. I don't think I'm buying until Thu morning, CPI and PPI coming out Tue and Thu. BTFD, lol. Threw some beer money at some puts, just goofing around right now in this whipsaw. I'll have more confidence in trading if teh indicators start cycling. by hungry_hippoUpdated 7
ES divergencyES show a huge accumulative divergence with the RSI and the MACD at daily chart, at this moment of FOMO every bearish strategy will be wrong because all the people are betting to the upside move.... Just looking out the market...by Manzanex0
3/8 Friday Trading PlanTrading Plan for Friday Market Sentiment: Neutral to Bullish Weekly Volatility Risk: High Supports to Watch: Immediate Supports: 5155 (major), 5146, 5140, 5133 (major), 5125 (major), 5118, 5113, 5106 (major), 5101, 5088-92 (major), 5084, 5073, 5065, 5057-60 (major), 5052, 5046, 5040, 5032-29 (major), 5022, 5018, 5013 (Major), 4998-5000 (major), 4994, 4987, 4983 (major), 4976, 4965-70 (major). Resistances to Monitor: Key Resistances: 5155-58 (major), 5167, 5175, 5190 (major), 5197-5200, 5209 (major), 5217, 5229-32 (major), 5243, 5254, 5262-65 (major), 5272 (major), 5282, 5287 (major), 5300 (major), 5308, 5316 (major), 5331, 5344 (major). Trading Strategy: Capital Preservation Friday: Prioritize capital protection ahead of aggressive positions. Limit risk exposure to 20% of previous gains. Cautious Longs: Focus on potential longs at 5155, 5133, 5125, and particularly 5106. Look for bounces or reclaims of support levels for long entries. NFP Volatility: Anticipate heightened volatility and potential traps in the 30 minutes following the NFP data release at 8:30 AM. Approach with caution. Bull Case: Trend Continuation: Bulls remain in control on longer time frames. A successful defense of the 5155 level and ideally, the 5133 support, would pave the way for a base-building pattern below 5170 before retesting 5190 and the macro magnet levels above. Adding on Strength: Monitor for potential bull flags above 5150 or failed breakdowns of flag supports for long entries. Bear Case: Breakdown Signals: A breakdown below 5146 may signal a move down the levels. Watch for failed breakdown setups and bounces before considering short positions. In Summary: The trend remains bullish, but increased volatility and NFP release require a cautious approach. Focus on capital preservation, targeting potential longs at key support levels. News: Top Stories for March 8, 2024 Stock Market Strength: The S&P 500 continues to reach new all-time highs. AI Stocks Drive Tech Sector: AI-focused companies, particularly Nvidia, have spurred growth in the technology sector. Federal Reserve Policy: The Fed held interest rates steady at its last meeting and plans to maintain them at current levels ahead of the March 20 meeting. Rate cut expectations are rising for later in 2024. Indian Economic Outlook: Moody's raises India's economic growth forecast to 8% for FY24, citing strong domestic demand and government spending. The Reserve Bank of India governor also anticipates GDP growth near 8%. Global Outlook: J.P. Morgan economists expect the global economy to avoid recession despite monetary tightening, but they predict an end to global expansion in mid-2025. Inflation and Currencies: US inflation, measured by the CPI, rose more than expected in January. Sterling climbed to its highest since August, bolstered by potential rate cut expectations for the ECB and Fed. Other Highlights UK-India free trade agreement faces potential delays. Crude oil prices declined slightly, and gold prices increased. Bitcoin's rally is attributed to its limited supply. Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.by spytradingpro0
Going Over Price Action OVernight ESgoing over the ES Overnight Price Action. we're not seeing much to do as NFP will be out at 830. we are NOT fading the trend unless we get some weakness. still looking for buy setups and FBD's & FBO's. taking it mostly easy today. 02:26by BobbyS8130
Combined US indexes suggest a cotinued over-extensionThe Combined US indexes are clearly in bearish divergence, as previously described. However, it appears that there is a thin underlying technical and funding support to push this index(es) into the Fibonacci target over the next couple of weeks till the end of April. A trajectory of the expected retrace to run scenario is drawn in light yellow, to the upside target where the green ellipse is. Watch for breakdowns below supports and no recovery. Otherwise, this looks unbelievable, but it is a sucker's rally really. Tread and trade with caution... Longby Auguraltrader2
#ES_F Day Trading Prep Week 03.03.24 - 03.08.24Last week - we were able to consolidate inside the Edge that we broke out of and get a squeeze for another test of upper VAL and a push inside Value. We were able to reach the Mean but no continuation through it towards next Key Resistance and a sell back under end of Day. Going into this week are inside a new ranges Value and our goal is to see IF more buying comes in to try to take out Current high to test next Key Area at 5159.25 - 54.25 and try to go above it ? IF we accept here and start balancing within new current range of 5154.25 - 5112.50 or IF stronger selling comes in to takes us back under VAL back inside Previous range ? We have built up a good amount of stops inside a T2 Range at the lower Edge which took a week to build, if we start holding under 5140 - 5125 - 5112.50 that could bring in Weakness to try and take lower Stops. We would need a strong bid to take out current upper Stops and build above them to try and accept over next Key Resistance. If no strong selling comes in then we could start balancing in current range. Levels to Watch : Current Resistance 5144 - 5140.25 // Key Resistance 5159.25 - 54.25 Levels Above : 5174.25 - 5188.25 // 5188.25 - 84.50 Current Support 5129 - 25 ? Untested // Key Support 5112.50 - 07.50 Levels Below 5095.50 - 92.50 // 5081 - 77.75 Key Support 5066.50 - 60.75by HollowMnUpdated 222
Decoding Market Signals: The Head and Shoulders Pattern Good morning seasoned traders, Ever heard of the Head and Shoulders pattern? Well, depending on which study you consult, it's said to play out between 50-81% of the time. Quite the range, right? But some reliable sources swear by that impressive 81% success rate. Now, let's take a peek at the ES chart. Can you spot what I'm seeing? Yep, potentially a Head and Shoulders formation in the making. I mentioned yesterday that if we faced rejection around 5125 (and boy, did we overshoot!), we might be eyeing the 5000 level in the coming days or weeks. I get it, it's tough to wrap your head around, especially after riding the glorious bull trend for so long. But hey, consider this a cautionary sign worth keeping in your arsenal. Lately, index heavyweights have been dragging their feet, underperforming for weeks on end. And if this trend persists, well, you can guess what might happen. Remember when hedge funds bailed on Mag7 back in early Feb? Yeah, they're not rushing back just because there's a modest discount on the table. They'll hold out for a better deal. As we hover around the Value Area, dangerously close to POC, the bulls are desperately trying to salvage this trend. But let's face it, the next significant support is lurking around 4960-80. Not too far, huh? But enough to wipe out all those short and mid-term calls. Mark my words, it's never a straight line. So brace yourselves for a choppy ride over the next 5-6 days. It took nearly a week to carve out a left shoulder. Give it another 6 days for the right one, and we could be chopping till March 12th before waving the white flag. Now, I'm not saying this is our base case scenario, but hey, risk management is the name of the game. Keep that in mind as you navigate these choppy waters.Shortby Leree123Updated 0
ES Monthly UpdateNever in the history of the Fed has the chairman been stupid enough to talk about rate cuts when the stock market is at an all time high. www.cnbc.com Powell is an unbelievable moron who's going to cause rebound inflation by pumping the market. I'm no longer bearish because I realized today that all of the central bank chairs are morons. (The ECB meeting was today) Anyways, back to the chart.... it's a monthly chart. I expect it to go overbought. Potential upper target is the green arrow. BTFD, be careful if you decide to short anything this year.by hungry_hippo5513
ES UpdateWell ECB meeting happened, market green. Looks like it can go further tomorrow on Ponzi Friday. CPI numbers Tuesday, will look at buying puts on Monday.by hungry_hippoUpdated 2212
ES SP500 LONGThursdays Daily candle displaced and closed strongly above Wednesdays high and the fractal swing high from last week. DOL is the PDH. I want to see H1 bullish arrays respected to then look for M5 bullish displacement entry. NFP volatility tomorrow will surely impact whether or not this idea works out or not.Longby Tradius_Trades1
Will there be confidence going into the weekendWill the S&P 500 demonstrate confidence with a positive close above Thursday's high as we go into the weekend. The expectation is for a higher close on Friday.01:28by DanGramza1