ESES looking like profit taking about to happen. Up at monthly pivot coincides with Q as well.Shortby patricktapperUpdated 0
ES - Run On BuystopsCapitulation begun from last Thursday and if you was short throughout the beginning of this week, you would be sure to have booked a healthy piece of that explosive movement. Not one day passed where ES printed bullish on the daily timeframe after last Thursday’s high @ 5257.50. Fridays bearish sell off was met by bullish resistance at the Jan 31 2024 daily bullish order block which shows that there’s signs that a retracement is in the cards. With very little sellside imbalance buyside inefficiencies, that leaves ES with a potential bullish run upto 5120, over 100 handles if we was to reach the nearest imbalance in price action. With the dollar selling off and YM shifting in market structure after sellstops was taken, this intermarket relationship would aid my bullish bias. However, I am awaiting accumulation coupled with manipulation before the big news announcements on Tuesday. So Monday, I’d like to see a continued short term sell off before running intraday buystops, creating a bullish breaker. My philosophy is simple... Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go. This includes; - Market Structure - Buyside/Sellside Liquidity - Order Blocks - Liquidity Voids - Fair Value Gaps - Optimal Trade Entry - Premium/Discount Array - SIBI/BISI - Many More! The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated. Credits; - Michael Joe HUDDLESTONE - Shawn Lee POWELL - Toray KORTANLongby LegendSinceUpdated 1
Can buyers return?Buyers came into the S&P 500 late in the session on Wednesday with the lower opening in Asia. Can buyers return to move prices higher to drive the market back to Wednesday highs and that is the expectation.01:28by DanGramza3
ES1! evening updateWorking primary count has impulse wave from ATH at 5333.50 to 4963.50. Area in orange ellipse is suspect, so if this count doesn't play out, will likely need to go back and tease out this price action. Corrective bounce off low of 4963.50 appears to be an ABC zigzag. Looking for another impulse wave to complete a C wave or a 3 wave.by discobiscuit0
ES Day price Action Review 4-24-24going over price action for the day Wednesday April 24th looking for clues to what the market is telling us. trying to put together the entire big picture to form our plan and take the right trades being on the right side of the market.06:10by BobbyS8130
Market Recap: Did I Predict The Week On Sunday... AGAINIt sure seems that way. 5126 was the level where buyers would become sellers. It took sellers to become buyers in the first half of the week. Now, I think the market is weakened. Pre-market analysis will be key for trading in the next couple of days. Not a ton of setups today but, just enough to keep the degens going :D02:43by JoeRodTrades0
ES UpdateI said yesterday that it would get overbought today and go down. Well, here we are. Made a little money with puts like I said I would. Indicators now neutral, META earnings probably dictates gap direction tomorrow. Just gonna stay cash and take potshots at the market with options. I'm guessing MFI will cycle fast like it did a a couple of weeks ago, just waiting for the next opportunityby hungry_hippoUpdated 229
Morning Price Action REview ESGoing over the morning/lunch hours price action looking for clues as to what the market is telling us. 04:05by BobbyS8130
ES UpdateLooks like it'll hit overbought on MFI and/or RSI tomorrow, have an exit plan.by hungry_hippoUpdated 1112
HOW MANY TIMES DO I NEED TO SCREAM 6 1 8?HOW MANY TIMES DO I NEED TO SCREAM 6 1 8?? Short off the PRE MARKET HIGH it's all in PLAIN sight! Never chasing always LOOKING FOR PREMIUM entries OVER 1k in profits SHORT when others BUY and hunt deals! I will PAY IT FORWARD by tradingwarzone225
Trading Plan for Wednesday, April 24th, 2024Trading Plan for Wednesday, April 24th, 2024 Market Sentiment: Uncertain, with bulls maintaining control after yesterday's rally but price action becoming more complex after a trend day. Key Supports Immediate Supports: 5095-5100 (major), 5082, 5076 (major), 5067 Major Supports: 5056 (major), 5047-45 (major), 5027 (major), 4996-5000, 4966 (major), 4945-49 (major) Key Resistances Near-term Resistance: 5120 (major), 5136 (major), 5171 (major), 5190 (major) Major Resistances: 5220 (major), 5246 (major) Trading Strategy Post-Trend Caution: After a significant move yesterday, be aware of complex price action and increased potential for traps. Prioritize caution over conviction. Long Opportunities: Due to the choppy nature of post-trend days, direct bids are less reliable. Consider bids with a failed breakdown at 5090 (after it's reclaimed) or on major supports (5056, 5046-45). Prioritize the knife-catch protocol for deeper longs. Short Opportunities: Look for backtests of 5136 and particularly 5171 for shorting. A breakdown below 5076 could open up downside targets, with level-to-level profit-taking. Risk Management: Scale back position sizing and be prepared to potentially take some losses while price discovery takes place. Bull Case Holding Support: Defending the 5045 zone is encouraging for bulls. Reclaiming Resistances: Bulls need to push above the 5120/5136 zone for a potential run to the next major target, 5171. Adding on Strength: Breaks and acceptance above 5095, within a bull flag pattern, could offer opportunities for adding to long positions. Observe closely to ensure it's not a backtest for a downside rejection. Bear Case Breakdown Signals: A convincing break below 5045 triggers the downside move, while a short-term failure of 5076 could lead to a dip. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 24th, 2024 Economic Environment IMF Global Financial Stability Report highlights optimism and lingering risks. US Dollar's strength despite expectations of decline. Economic indicators: Focus on upcoming employment report, CPI report, and Bitcoin halving. Stock Market Updates S&P 500 performance: new highs followed by a downturn due to inflation concerns. Additional Market News Boeing's quarterly performance and supply chain stabilization. Reminder: The market is reacting to a mix of earnings reports, economic data, and the critical battle at the 5040 resistance. Prioritize risk management and adapt your trading strategy accordingly. Let me know if you'd like any changes!Longby spytradingpro1
MOrning Price Action Review ES 4-24-24going over the price action after yesterday's trend day. looking for clues and the plan for today's morning session.02:32by BobbyS8130
ESM2024 (S&P500) target hit, buyside at 5121 taken :)Out buyside target from yesterdays related analysis, ESM2024 5121, got in fact hit overnight :) Longby MintMarkets_Fx2
ESM2024 (S&P500) buyside taken, run to 5121 still in the cardsBuyside at 5095 has been taken. If we do not drop hard from here and the candles body on the 1h closes above 5102, we think that the next upside target will be 5021 in ESM2024. Longby MintMarkets_FxUpdated 3
S&P 4600? HEAD AND SHOULDERS FORMINGThe **S&P 500** index has recently confirmed a **head and shoulders** topping pattern, which suggests an **exhaustion of buyers**. Let's break down this pattern: 1. **Head and Shoulders Pattern**: - The head and shoulders pattern is a classic price pattern that indicates a potential reversal. - It typically consists of three phases: **setup**, **trigger**, and **confirmation**. - In the case of the S&P 500, we've observed this pattern recently, signaling a bearish tone - The pattern involves a failed attempt to make a new high, indicating buyer exhaustion or sellers unloading shares. - Novice analysts sometimes label this pattern prematurely, so it's essential to wait for all three phases to minimize false signals. 2. **Minimum Downside Objective**: - The head and shoulders pattern suggests a minimum downside objective for the S&P 500 around **4600*¹ - This means that the index could potentially decline to this level based on the pattern's formation. 3. **Seasonal Correction in May**: - Historically, there has been a **seasonal weakness** in the stock market around May. - The phrase "Sell in May and Go Away" originated from a long-term seasonal study, indicating that most stock market gains tend to occur during the autumn months. - While April has historically been positive for the S&P 500, investors should be aware of potential corrections in May⁶⁷. Remember that market patterns and seasonality provide insights, but they don't guarantee future outcomes. Always consider other factors and consult professional advice before making investment decisions. Shortby jgavrity0
ES Daily price Action Review 4-23-24Going over Price action for Tuesday and the last few days. looking for clues to what the market is telling us. 04:00by BobbyS8130
Market Recap: 3 Setups, 2 WinsWhile I left some on the table, I am happy with my wins. In the last week my win percentage is sitting around 90%. I have avoided over-trading and focused on doing things the right way. today, we saw a bunch of setups. Most worked but, some did not. The market has been very technical lately with very little tricks. 03:37by JoeRodTrades0
Earnings may helpEarnings may push the S&P 500 higher on Wednesday. 5135 would be the next price objective that you'd want the market to close above.01:24by DanGramza2
Volatility Valuation Index - ES FuturesThe " Volatility Valuation Index " proved to be quite reliable ... again.... Mind you this is a SETUP tool, to locate EXTREMES in Volatility. It is NOT a SIGNAL tool, to be used for entries / timing. That said, its accuracy sometime can be impressive. But even under these circumstances, I do not use it as a timing tool (Works across all markets & timeframes) Longby AlexSpiroglou1
Morning Price Action review ES 4-23-24going over the Morning RTH session ES looking for clues and reflecting on how we traded the open. 03:00by BobbyS8130
ESM2024 long trade, stop and take profit in place ESM2024 long trade, stop and take profit in place as seen on the chart. This is no financial advise! Do not risk real money on any idea published by us. Longby MintMarkets_FxUpdated 3
Trading Plan for Tuesday, April 23rd, 2024Trading Plan for Tuesday, April 23rd, 2024 Market Sentiment: Uncertain, with bulls and bears battling at key resistance after yesterday's recovery day. Key Supports Immediate Supports: 5040 (major), 5032, 5020 (major) Major Supports: 4996 (major), 4959 (major), 4938 (major), 4903 (major) Key Resistances Near-term Resistance: 5057 (major), 5081 (major), 5102 (major), 5115 (major) Major Resistances: 5129 (major), 5141 (major), 5167 (major), 5186-90 (major) Trading Strategy The 5040 Battleground Continues to be critical. Observe for breakouts or breakdowns with close attention. Long Opportunities: Due to the choppy nature of the 5040 zone, direct bids are less reliable. Consider bids with a failed breakdown at 5032 or on major supports (4959, 4938). Prioritize the knife-catch protocol for deeper longs. Short Opportunities: Look for backtests of 5081 and particularly 5102 for shorting. A breakdown below 5020 could open up downside targets. Profit-Taking: On shorts, consider taking profits entirely at major levels, especially given ES's tendency to short squeeze. Bull Case Holding Support: Defending the 5040 zone is encouraging for bulls. Re-tests and quick recoveries signal buying strength. Reclaiming Resistances: Bulls need to push above the 5081/5102 zone for a sustained recovery attempt. Adding on Strength: Breaks and acceptance above 5057 could offer opportunities for adding to long positions. Observe closely to ensure it's not a backtest for a downside rejection. Bear Case Breakdown Signals: A convincing break below 5020 triggers the downside move, likely targeting 4975 or lower. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 23rd, 2024 Economic Environment US GDP growth and the impact of interest rates on corporate America. IMF projections for global economic growth and inflation expectations. Bond market signals regarding Federal Reserve policy. Market Analysis Upcoming economic data releases: GDP estimate and key inflation measure. Reminder: The market is reacting to a mix of earnings reports, economic data, and the critical battle at the 5040 resistance. Prioritize risk management and adapt your trading strategy accordingly.Longby spytradingpro2