Going over the OVernight action. seeing what the market will give us today. NVDA earnings after hours FOMC minutes as well today.
🔄 Recap Todays price action highlighted the power of technical analysis, with ES breaking out of a 4-month downtrend post-CPI, rallying 120 points. The market formed a bullish triangle pattern last week, which led to a breakout and an upward trajectory today, aligning perfectly with our analysis from the last newsletter. 📈 The Markets Overnight 🌏 Asia: Mixed 🌍...
First position is a deviation of previous weekly high which I consider a key pivot. Confluence is a trend line break. Risk is defined. See how it goes.
Expecting a liquidity grab tomorrow at NY open - then a reversal for the rest of the week
Hey guys, As you can see my my last trade sell-side liquidity was taken out - I am expecting a reversal at this point down to buy-side liquidity around 450. We have had tremendous momentum for the past few weeks. On the macro level - I can SPY breaking the previous high around 480.
The sell side liquidity will probably be taken out before continuing downwards for buy side liquidity. This is the current trade I have - Bearish for next week. The market can go down or up after that.
Modest follow through to the upside in the S&P 500 is expected for Tuesdays market action. As the week unfolds there could be a holiday market attitude with higher closes expected.
This is a holiday abridged week. I expect market volume to taper off after Tuesday or so, with it coming alive following Monday. Thursday and Friday, the NYSE remains closed. Happy Thanksgiving! My Weekly Scenarios Scenario 1: I think if we are able to remain above 4510-4515 this week, there may be a tendency to test 4552 area. I do think there is a possibility...
Overall Bullish for Next Week. Closed Above a FVG on the Daily Making it an IFVG, Created a Swing Low on the Daily Chart. Expecting Price to reach for the next Buy Side Liquidity, Which is the Daily Target and Weekly Target I marked out. Ideally Would Like to See Price take out Sell Side Liquidity First on the Hourly before moving Price Higher.
Going over the price action middle of the DAy ES. holding some runners long. not looking to establish new positions but have been lightening up. Market very strong. IWM not so much has some RW but man oh man.
Going over what price did this morning session ES. waiting on the bond auction. lets let the market do what it wants. starting to see signs of distribution. but lean is still bullish but short term neutral short.
Reviewing OverNight Action and going over Price action last few hours especially. we're leaning neutral to bullish but at some Resistance ES. going to wait for price to decide what it wants to do.
🔄 Recap Last week's newsletter accurately predicted the market's behavior with the CPI acting as a catalyst for a significant breakout from the core downtrend channel. This led to a substantial uptrend, marking one of the year's pivotal trades. 📈 The Markets Overnight 🌏 Asia: Up 🌍 Europe: Mixed near unchanged 🌎 US Index Futures: Up slightly 🛢 Crude Oil: Up...
Red above, blue below - pick your poison. I am targeting the IFVG.
We entered 2023 with a pessimistic consensus outlook for U.S. economic performance and for how rapidly inflation might recede. As it happened, there was no recession, and personal consumption posted sustained strength. Inflation, except shelter, declined dramatically from its 2022 peak. The big economic driver in 2023 was job growth. Jobs had recovered all their...
Overview ES is currently trading within a range from 4541 to 4508. Should the levels of 4500-4508 remain supportive, the next upward target is the supply zone around 4555. If it falls below 4500, a noteworthy area is approximately at 4485. Further down, there's a significant break and retest zone at around 4430. Key Levels Range: 4508-4541 Supply: 4555 Area of...
Update on S&P 500 on the weekly i see a break out from a possible megaphone to a measured move marked . as long as PA holds critical support of 4466