DE40 I longed at 210, the close of that bull following the bear. but im out here, i want to see either that entry hunted on the open and then bounce or just nice follow through above 300 with multiple bull bars (2-3) closing on their highs, otherwise im wondering if this market still wants 22600-22800 (5 min charts). I felt when i woke up ah maybe i should step away after a good NQ session in a choppy market that I managed well, but I have a sneak suspicion this market will catch bears off guard, but Im keeping an open mind of course, their are lower targets on SPX and its kind of my biggest leader. SPX losing 690-710 is 100% bear, do we see 6510 this week? also keeping in mind these markets arent always correlated, I have often seen DAX go on a major rally while NQ range bound but sometimes it means that the DAX rally is pure short covering, youd have to look at the volume profile after the day closes to see, Fridays SPX rally was 100% a short covering, so a lot to think about boys, Good luck. I need to not post here today and stay focused.
Pivot Point: 23,280 - This is our line in the sand for today's session. Bullish Scenario (Price > 23,280):
Entry: A sustained break and hold above 23,280 could signal a long entry. Confirmation on the 15-min chart is advised. Targets: T1: 23,350 (Minor Resistance) T2: 23,420 (Major Resistance, potential exhaustion point) Stop-Loss: A tight stop at 23,240. Bearish Scenario (Price < 23,280):
Entry:A rejection from 23,280 or a firm break below 23,200 suggests a short opportunity. Targets: T1: 23,150 (Primary Support) T2: 23,080 (Secondary Support) Stop-Loss: A stop placed at 23,320.