In my opinion today the market shifted from buying to selling. The shift was mostly obvious in DJ30 but I think all will fall heavily this week. Disclaimer: Not a financial advice. Do your own analysis before investing or trading
Sorry for the audio issues with my mic, will fix it next time. I had high hopes for today and it delivered. I thought conditions were really good for calls and it played out early on, but I didn't expect such a weak close. I'm wondering if there may be trouble tomorrow, but staying bullish until VX breaks out or ES breaches critical support.
Look at that beautiful 1/3 ADR at ATH + Previous Week High that is good confluence for us going higher! Also Range +4 STDV there this looks very solid to me! Range deviations + Average Range Levels = 🔥
Going over the price action Morning Session ES looking for clues and trying to see how we could have traded the morning session better. Pain + Reflection = Growth. do the hard work. no easy path if you want to be a trader.
I think ES will see a nice bounce if it retest this trendline it just broke out above.
Just a quick entry setup recap in the midst of today. Overall, we are still basing within the range I posted Saturday though. CME_MINI:ES1! CME_MINI:MES1!
ES Weekly Trade Plan Inflection: 5323-5326 Upper lvls: 5370-5377 / 5409 / 5448 Lower lvls: 5292 / 5273 / 5258 / 5248 / 5230 ES Monday Trade Plan Inflection: 5323-5326 Upper lvls: 5340 / 5357 / 5370-5377 Lower lvls: 5304-5308 / 5292-5296 / 5272-5274 NQ Weekly Trade Plan Inflection: 18660-18700 Upper lvls: 18812 / 18974-18982 / 19397 Lower lvls: 18413-18447 /...
The S&P 500 index can be bought in two specified support areas in two steps and profit from it up to the specified targets
Waiting to see if we get the level to risk off, Waiting for some real US market Momentum Monday likely to lack follow through until US open
On Friday ES did beautiful retracement with SMT at Smart Money Reversal with YM. A lot of confluences much as seasonality, orderflow and structure.
With 4 consecutive weeks of straight bullish price action, what would it take to slow down this bullet train? I mean, it could go up forever but markets move in waves of fractals and retracement is perfectly healthy in a macro bull market.
The S&P 500 is my favorite market to trade however my strategy struggles when price enters All Time Highs by design. I tend to try and hold positions into ATH's and beyond but this recent uptrend has proven too aggressive for my entries (See attached ideas). Last weeks close is a very subtle clue about institutional intention to buy this market. My intuition says...
Last week, we were expecting a dip and rip. That is exactly what we got! However we dipped a bit less than expected, hence why I never alerted a big buy signal. Missed the easy move to new all time highs. On Friday, we saw end of day strength, creating a few gaps of interest below. Lower time frame areas of interest around 5317 and 5310 looking for support. If...
Long, trap for buyers coming soon. Overall market been oversold for years when will we dig deeper is the questions for me every quarter... a broken clock has to be right at least once ??
CME_MINI:ES1! Broke out a 1 month flag on May 6th (in white). This pushed us to all time highs and now the spot buyers want to get over for next week is the 3 month megaphone resistance at 5349 area (in green). Get above there and buyers can push for 5374. If sellers want to dip us this upcoming week, it can start on the fail of 5302. which will target 5274...
Another choppy and flat day for the challenge account. I think i did ok today but that lotto i bought should have been a call. Don't know what i was thinking buying a put after VX just broke below support. Oh well i should have been done trading at that point anyway. Next week will be better.
ES1! showing signs of heavy resistance to price movement, AKA liquidity in this rarified air. The daily ranges for the previous two trading days will be monumental in the market deciding its direction, as there is a lot of interest packing in at these levels. 5287 to 5349 are the outer limits with 5318-to-5323 also being important inflection points as this plays...
Going over the morning session looking for clues to how we could have traded today better. going into the weekend we really want to reflect & update our trading plan. eliminate what isnt working and double down on what is working. keep working hard. another week almost in the books. goal is to be green end of the day. not become a millionaire.