CME: E-Mini S&P 500 Options ( CME_MINI:ES1! )
On March 24th, I published a trade idea, “Buckle Your Seatbelt for a Market Correction”, where I suggested that the US stock market was due for a major correction. Buying a Put contract on CME E-Mini S&P 500 Futures would be a trade to express this market view.
How is this trade panning out?
• On March 24th, the...
RSI hit oversold last night, expecting a rebound next week.
Decided to take a small long position with both calls and stocks, don;t really trust this market, lol.
I 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...
We are neutral on S&P futures after the recent drop. It is too early in the week to determine a high probability bias. We have taken out fridays high today (5058), and we might see further retracment to the upside. We are not considering a short bias on the daily chart, unless ESM2024 daily candle body closes below 4984. Until we get more insight troughout the...
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
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.
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.
After the S&P 500 market absorbed the news about the retaliatory attack from Israel to Iran with a large moved to the downside buyers into the market. The question is is that buying sellers buying to take profits or has it gotten cheap enough that buyers are entering the market. Pay attention to Sunday nights opening and Asia's response to get guidance for Monday....
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...
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.
Today was yet another amazing trade off a long term volume profile level for over 50 points on the CME_MINI:ES1! S&P500 E-mini futures.
I want to document these trades as teachable moments because I think Volume Profile is an absolutely amazing tool that should be in ever trader's toolbox!
Trading Plan for Thursday, April 18th, 2024
Market Sentiment: Mixed, with traders weighing the implications of inflation, economic signals, and potential shifts in Federal Reserve policy.
Key Supports
Immediate Supports: 5066, 5060, 5054
Major Supports: 5045-47 (major), 5038, 5000-5005 (major), 4990, 4966, 4932-36 (major)
Key Resistances
Near-term...
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...
The overnight range was the name of the game today. As mentioned earlier, we were looking for a potential break in either direction. After establishing the initial balance, we saw a test of the overnight session low (5019), which was successfully defended. Subsequently, buyers entered the market, leading to a push higher in $ES. This move broke the high of the...
So again, I cashed out my trade just above 5000 as we fell last night following the Israel drone strike against Iran. Most of that dip appears to have resolved itself, at least for the moment, but those geopolitical issues will likely be crucial to the potential of a market fall in the coming days.
I go into it in the video, but major Earnings are next week, and...
