NQ and RTY filled the gap from yesterday, but ES still has a small open gap. Also, MFI isn't moving much. I see lots of stuff in the red as well.
Running errands today, staying out.
If daily gap holds then upside targets
*5021.5 then 5026.5-5037.
For downside targets
*4997-4991 and if that fails 4974
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MFI went oversold last night, but there's also an open futures gap. Don't have time to watch the market today so I took the easy money and cashed out. I think it'll double bottom before going up because of the open gap. Guessing TSLA tanks on earnings.
Gold down big caused Brazil (EWZ) to go red. Barely made any money on those calls.
This idea is based on 8:30 ET Breakout candle..
This is Silver Bullet strategy buy a bit more aggressive.
Reason being is that, Previous week was over extended to the downside and expect a retracement bullish short term..
Trading Plan for Monday, April 22nd, 2024
Market Sentiment: Uncertain, with bulls and bears at a crossroads. Geopolitical risks remain a factor, and market reaction to earnings reports and economic data will be crucial.
Key Supports
Immediate Supports: 4996-5000 (major), 4990, 4975 (major), 4966
Major Supports: 4958 (major), 4937 (major), 4904-08 (major),...
I'm seeing EWT numbers as high as Fibonacci 1.618 or 5443.75.... However my knowledge of the pivots tells me, we are at just about at S 4.3 5009 and I think the market will raise. to R5 or R6 the normal Pivots cycle from daily lows, S5-S6 where we buy and daily highs R5-R6 where we sell. Kauai Dave's Pivots Traders.
Here are my levels after a few weeks off. Bullish trend was broken with the drop below the upward trendline. Now trading below key emas. Green box represents important support as price pulls back to key fibs and the 200 sma. Watch for outsized move in either direction due to option volatility. Bounce back into the ema cloud or break of support are equally...
This algo and automatic drawing system can indicate that an oversold short term furtures index price can retrace to trend extend levels.
the projection in the algo and short term futures or money network index risk may accumulate according to trend regularity 33, with automatic drawings suggesting a cross.
a bear pullback could look like something as indicated on...
My God. If the SETUP used is correct, technology companies will melt the SPX index.
I won't even write a text explaining why, because no one likes reading.
I will post the bearish pivot combined with a buy trap. What a thing, right?
Supports: 4933 for the moment. Medium-term secondary support (15/20 days): 4742.
I'd better keep quiet. Because things always...
All signs point to a pullback in the market. I think JPM/AMD and some other big names might even be our leading indicator. The only real pullback target I could come up with is a 50% retracement which is fairly common in the market and within trends themselves.
Dax
Quote from last week:
bear case: Bears showed strength this week and bulls continued to take profits. Every bounce was sold and this pull back is now as deep as the one we got from mid 2023-12 to early 2024-01, which is around -4%, which is, given the +28% rise, almost nothing. Now we are at the first very important level to determine the strength and...
Yesterday I posted analysis for ES but unfortunately, it was for the previous contract month meaning that all analysis made is negated.
Assuming this was posted on the Sunday, i was looking out for sellside to be swept, which eventually happened but it's pointless me saying that is what i was on a lookout for when the move has already played out.
Overall, i am...
Throughout the last few weeks, ES has gently tricked to the upside but this week is looking a bit different.
Throughout the weeks, from the beginning of 2024, there has not been a bearish market shift in structure before repricing to the upside yet but with Wednesday, Thursday and Friday being down close days, sellstops could be i danger of being liquidated as...
Price action after thursday night's geopolitical spike returns to normal.
After the spike the ES retraced to the 6pm open creating a text book ICT bearish breaker pattern. Reaching down to the NY Midnight opening price. Then bouncing up reaching into the first Pd Array above equilibrium (FVG) creating another bearish breaker pattern which re-established the...
