Bullish count on left, bearish count on right. Lots of gymnastics on the left, but it is still just a series of impulse waves up, with key higher low pivots held. There are different ways to interpret these impulse waves collectively, and the one I have chosen would get one complete impulse wave off low of 4963.50 to happen the quickest. Key price support at...
The smaller range on Tuesday in the S&P 500 implies a loss of momentum and the market catching its breath. This structure means that if you're on the long side be cautious. The expectation is for sideways move.
It appears that the S&P 500 price action indicates the market is adjusting to the outlook that interest rate cuts may happen later in the year. The expectation would be another day higher on Tuesday but not a large range. The estimate for the high would be 5225 to 2530.
Overbought on RSI and MFI, I would expect at least a dip tomorrow
Just a quick entry setup recap in the midst of today. Overall, we are still basing within the range I posted Saturday though. CME_MINI:ES1! CME_MINI:MES1!
ES Weekly Trade Plan Inflection: 5323-5326 Upper lvls: 5370-5377 / 5409 / 5448 Lower lvls: 5292 / 5273 / 5258 / 5248 / 5230 ES Monday Trade Plan Inflection: 5323-5326 Upper lvls: 5340 / 5357 / 5370-5377 Lower lvls: 5304-5308 / 5292-5296 / 5272-5274 NQ Weekly Trade Plan Inflection: 18660-18700 Upper lvls: 18812 / 18974-18982 / 19397 Lower lvls: 18413-18447 /...
Going over the price action from sunday night looking for clues and trying to listen to what the markets are telling us. listen more, talk less. listen 2x as much as you Talk.
**SP500:** New all time high at 5347. This week's forecast is for the price to descend and match the EMA55 level.
Look at that beautiful 1/3 ADR at ATH + Previous Week High that is good confluence for us going higher! Also Range +4 STDV there this looks very solid to me! Range deviations + Average Range Levels = 🔥
The S&P 500 index can be bought in two specified support areas in two steps and profit from it up to the specified targets
Waiting to see if we get the level to risk off, Waiting for some real US market Momentum Monday likely to lack follow through until US open
On Friday ES did beautiful retracement with SMT at Smart Money Reversal with YM. A lot of confluences much as seasonality, orderflow and structure.
With 4 consecutive weeks of straight bullish price action, what would it take to slow down this bullet train? I mean, it could go up forever but markets move in waves of fractals and retracement is perfectly healthy in a macro bull market.
The S&P 500 is my favorite market to trade however my strategy struggles when price enters All Time Highs by design. I tend to try and hold positions into ATH's and beyond but this recent uptrend has proven too aggressive for my entries (See attached ideas). Last weeks close is a very subtle clue about institutional intention to buy this market. My intuition says...
Last week, we were expecting a dip and rip. That is exactly what we got! However we dipped a bit less than expected, hence why I never alerted a big buy signal. Missed the easy move to new all time highs. On Friday, we saw end of day strength, creating a few gaps of interest below. Lower time frame areas of interest around 5317 and 5310 looking for support. If...
Long, trap for buyers coming soon. Overall market been oversold for years when will we dig deeper is the questions for me every quarter... a broken clock has to be right at least once ??
CME_MINI:ES1! Broke out a 1 month flag on May 6th (in white). This pushed us to all time highs and now the spot buyers want to get over for next week is the 3 month megaphone resistance at 5349 area (in green). Get above there and buyers can push for 5374. If sellers want to dip us this upcoming week, it can start on the fail of 5302. which will target 5274...