Rest day on ThursdayAlthough PPI will be announced on Thursday the expectation for movement in the S&P 500 would be a smaller range than Wednesday and would imply a rest day for this market. The objective to the upside would be 5455 to 546001:49by DanGramza1
2024-06-11 - a daily price action after hour update - sp500Good Evening and I hope you are well. overall market comment Dax continues with daily new lows in a two-sided market. Nasdaq made another ath 48 points higher and broke above it’s wedge. Mixed markets going into tomorrows CPI and FOMC releases. I expect nothing less of a firework to either direction. For sp500 and nasdaq I expect a complete blow-off top if CPI is not really hot and then only Jpow can save the bears. For nasdaq at this point the 20000 target is absolutely reasonable and in reach. If the numbers align tomorrow, we will see more bear slaughter. Commodities had a trading range day. Gold is trying to grind higher but new highs get sold off hard on bigger volume and oil is keeping it above 77, which is very bullish imo. Bulls can probably get another leg up to 80 again. sp500 e-mini futures comment: Bulls got their big leg up to a new ath again. It’s still not breaking clearly above 5400, which would make all bears capitulate so we can melt to 5500 or higher. It’s a clear trading range with small higher highs. Everything below 5340 is bought, so you know exactly where to buy. current market cycle: trading range key levels: 5330 - 5387 bull case: Again, I can not go full-bull because we are still inside the trading range. Tomorrow will bring a big move to either side. Bull targets have been in my weekly chart for many months now. On the daily chart you can draw multiple bull wedges and market broke above the smallest today. Confirmation would be above 5400. Invalidation is below 5360. bear case: Bears had a rather strong EU session but bulls gave em the finger with bar 10 and a 40 point reversal. They need to keep it below 5400 or I think many stops will be triggered and bears will give up. If bears get help from CPI or Jpow tomorrow, 5300 is the obvious first target and below that comes last week’s low 5200. TBH I can see a move down to 5155, which is the 50% pb from this trading range 4935 - 5385. If CPI prints hot and Jpow hammers on top, the market will have to react because it is not positioned for any risk what so ever. Invalidation is above 5400. short term: Bearish here at 5386 for at least 5355 again. Invalid above 5400. Don’t trade tomorrow’s news events. It’s mostly gambling. medium-long term: Bearish. We will see 5000 over the next weeks again and 4600 over the next 12 months. —unchanged current swing trade: None trade of the day: Long 5340 or since bar 10. No if’s or buts. Has worked the last days so expect it to work again until it clearly stops working. by priceactiontds1
SP500**SP500:** This week's forecast is for the price to fall to the bottom of the channel.Longby simaoxceps1
ES Analysis 6/10-6/14**Daily** - VOID at 5330 will be a target - Wicks at 5330 and 5310 will still see price recover bullish to upside levels - Closure below 5330 will see price attack 5310 & 5299 - No imbalances after 5328 - If closure below price can potentially attack 5246 by pwizzle343
20240607 ESI anticipate bs raid first but not far, after that I anticipate reversal to the downside and move to the DOL TGIF at the bottom of the 4h bisi. It is NFP day so the initial spike in volatility at 8.30 can make way higher initial move to the upside.Shortby Yoo_CoolUpdated 1
Rest dayAfter Friday's volatility and price structure in the S&P 500, the expectation for Monday is to trade within the range of Friday's action which would create a rest day for this market.02:26by DanGramza2
The stage is setThe stage is set in the S&P 500 in preparation for labor numbers coming out on Friday. Market reaction is 50-50 when you have this type of report. The bias is for a positive close going into the weekend.02:18by DanGramza2
Getting ready for Friday's numbersThursdays movement in the S&P 500 will get the market ready for the Friday labor numbers. The expectation is for continuation to movement to the upside and a close above 5390.02:18by DanGramza4
Market Crash - ES Ascending Wedge, Volatility & DistributionES has been fairly volatile lately, but somehow has always seemed to end up in the 5300 area. I'm seeing this as potential distribution, and I think the failure to break ATH and sustain above on Friday could be a potential double top and we have an ascending wedge as well.Shortby AdvancedPlays4
Market Crash - ES 1D Red Flags & Blow Off Top RallyIf you don't know already, my entire trading strategy is essentially based around dow theory. I am going against my own strategy a bit by attempting to pick a top, which according to dow theory, is a losing strategy. The trend is your friend, etc. However, dow theory also states that a trend has to be confirmed by volume, otherwise it is invalid. SPY had several days where it was the lowest volume in years. There were also a couple of two day periods that set a record for the lowest volume in consecutive days in years. This happened twice, first it had two days in a row of extremely low and abnormal volume, then later in the rally, it had another consecutive two days that were even lower than the previous two. Highly unusual. On top of this, I believe we are experiencing a blow off top rally that will ultimately end in an extended bear market. One of the confirmations for this is the recent greed and meme stock mania we've seen in the market along with the adoption of crypto and the ensuing rally. Everyone expect BTC to hit $100k, and I did too. But now, I expect it to take a lot longer than I first thought. Meme stock rallies have marked major market tops every single time.Shortby AdvancedPlays2
AMP Futures - Compare SymbolsIn this video we will demonstrate how to compare two different symbols on a chart using Tradingview.Education02:47by AMP_Futures2
ES - Knock Knock, Who's There..... $5,316 Is Here!I would like to see more data before attacking sellside but with dollar shooting to the upside and FX pairs following with stick index pairs lagging, I'm betting ES, NQ, & YM will catch up.Short09:46by LegendSinceUpdated 1
The end is nigh..."one more high."This is an Ending Diagonal. Notice, it is a contracting ED, and incidentally, the intersection of its top and bottom trend lines provide an ideal end point. A little bird told me 5375 was ripe for selling, and this picture makes me confident he was right. ATH 5362.75 at the time of this post, but calling it, anyway, as late as 5375.75. If not today, maybe in the week. Best, CuzShortby CuzDeluxUpdated 331
AMP Futures - How to create sections in a watchlist.In this video we will demonstrate how to create sections in a watchlist using TradingView.Education03:37by AMP_Futures2
#202424 - a weekly price action market recap and outlook - sp500Good Evening and I hope you are well. sp500 e-mini futures Quote from last week: bear case: Bears are still inside the bull flag and making lower lows. As long as they are staying below 5310-5320, their bear case lives on but is weak at best. They could not get consecutive daily closes below the daily ema and the reversal on Friday made the daily, weekly and monthly bar more buying than selling signals. You could argue that we are building a similar structure to April, where we had the double top and then only lower highs until bears finally accelerated it down big time and we got below 5000. Could this happen here too? Of course. We will find out on Monday or Tuesday. comment: Monday and Tuesday were bullish dojis on the daily chart but bears finally gave up on Wednesday where we did all of the points gained for last week. I said that the bear case was weak at best and that stays the same, until bears will get below the breakout bar and price of 5300. That levels needs to become resistance, for bears to have a shot. I do think the price action speaks more of a leg inside a trading range and we just made a higher high, but if bulls can get above 5400, that take is wrong and we are in W5 which could bring us to 5500/5600. current market cycle: Bull trend or trading range. It’s unclear. We do not get consecutive bull trend bars on the daily chart since first half of May. The daily chart makes higher prices but only through spikes, followed by pull-backs or dojis. This is not behaving like a leg in a strong bull trend. key levels: 5300 - 5400 bull case: Market refuses to go down but it’s not as bullish as it seems. A deeper pull-back is around the corner imo. Bulls are still in full control and could get another spike up, if market chooses to front-run the events or interpret the news as bullish. Chart is clear imo, W5 can lead to 5500 or higher but for that to happen, bulls need a strong break above this wedge top. Invalidation is below 5300. bear case: Bears gave up on Wednesday after trying on Monday and Tuesday. The only thing they had going for them over the last 15 weeks was, that they kept weekly closes below 5300, which should have been bigger resistance. Looking at the weekly and monthly chart, it’s just bullish, despite the up moves getting weaker and bulls only get single spikes and no follow through. No matter if we get a W5 up, market will have a deeper pull-back like the one from April to below 5000. We will at least touch the bull trend line again over the next couple of weeks, if not break it. Bears need consecutive daily closes below 5300 for that to happen. Invalidation is above 5400. outlook last week: “ Neutral until bulls get follow through. I do think bulls are favored but we are right at the upper bull flag line and it’s a weak bear trend inside this bull flag until bulls stop the lower lows and make higher highs again. ” → Last Sunday we traded 5295 and now we are at 5355. 5260 was my target for the bears and the weekly low as 5246. The lows held and bulls pushed it above 5350, which was my bullish target. So both prices I laid out got hit. short term: Bullish above 5320 for another leg up to 5500 or higher but only if it happens until end of Tuesday. medium-long term: Trading Range until 5000 is clearly broken and has turned resistance. If bulls can break strongly above 5350, it’s obviously a continuation of the bull trend and my next target would be 5500/5560. —unchanged current swing trade: Not interested in buying up here, except intraday scalps. If CPI comes in hot, I will initiate new long term shorts. Chart update: Removed the bull flag, that’s it.by priceactiontds1
Long $ES scalpIn at 5360.75. Risking a close below 5359.50. Just looking for a scalp to 5366+Longby SimpleJackTrading111
Small Account Challenge Day 19 - Silver Sike! +3,300% SLV PutsHad a really nice comeback on silver puts today, I had many that were worthless and set to expire today, but I ended up getting all of the losses back and actually making profit on the position. I'm currently very bearish going into next week, but we'll see how things look Monday morning and from there. Have a great weekend.08:19by AdvancedPlays1
ES, SPX - Santa Rally could trigger Cup & Handle patternA strong end to Q4 Window dressing by fund managers who were underweight equities would trigger a cup handle pattern breaking the trendline of the pattern is around 4600 on the #ES I could also make an argument for HVF pattern we have a high 3 in place A recession will no doubt rear it's head at some point ... but a blow off top first to hand bears a beating is definitely a scenario I have shared before. by BallaJiUpdated 7
AMP Futures - Indicator TemplatesIn this video we will demonstrate how to create indicator templates with Tradingview.Education02:24by AMP_Futures4
Long $ESI really like the imbalance we entered. I think below 5312-5314 we see more downside. Until then; I’m long hereLongby SimpleJackTrading223
AMP Futures - How to set alertsIn this video we will demonstrate how to create alerts with Tradingview. www.tradingview.comEducation03:58by AMP_Futures5
Finally HIT it Fair Value Gap and Fibonacci Over $50kHere is the FULL SYSTEM FOR FREE 1 - Identify the TRAP or False Breakdown to Start position (largest size) 2 - Add on every FVG and Fibonacci Retracement 3 - MAX stop loss is TRAP LOW/HIGH Thank you all for the support DROP A LIKE and I will keep sharing all my secrets!by tradingwarzone4
Follow-through is expectedFollow-through to the upside is expected in the S&P 500 for Wednesday, June 5. In the past two trading sessions buyers have entered into market lows to rally the S&P 500 into the close. The challenge now can these buyers move the market to close above 5230 by the end of Wednesday session.01:34by DanGramza113