So I went Long yesterday like I said I would at 4101 (3/4hr downtrends), and then ultimately reversed the position at 4122 (1hr Uptrend). I'm currently holding that trade and looking for it to make a move down to the 6hr downtrend at least. The S&P has really left me underwhelmed this week, and I'd like to try and make a bit more profit from it if possible as...
So we got some initial down movement yesterday that finally challenged this massive upward movements on low volume the last few days. This provided a 30m/1hr/2hr downtrend. I'd expect the price action to recover briefly from here even if we are heading lower. It should be noted that yesterday's down movement was high in volume either. JOLTs data came in below...
So I move it during the video to show the decline in upward trajectory, but the Daily Uptrend has signaled, still a higher high, though less upward movement. The caveat to that is that the ES! contract got the Daily, NOT the ESM. However, the ESM doesn't have a previous Daily Uptrend connection to go off of, because it doesn't have the history to draw from (just...
So I am finally back into the S&P, and short at 4090. We got the 12hr uptrend I wanted, which was just barely a higher high and gives us room to head down and get a new lower low if the market wants to take a dive over the next few months. Lots of commodity prices are rising, bond yields are going up, the value of the dollar is beginning to gain strength, volume...
So, the low volume continues to plague these movements. Most of the movements have been in premarket trading now also. I think another day of sit and wait is in order for me. We've gotten the 3hr/4hr/6hr uptrends. The 6hr was a lower high and was immediately violated with no hesitation. The 3hr and 4hr were higher highs, which we also pushed past. With the...
So I may stay out of the ES a bit more today. My ES! analysis says we are prime for a movement down, however, my ESM contract says that we are beginning to fail that down movement and could see a bit more upside. I don't like the divergence, and don't remember a time they were this bad, so I have browsed over to other areas to trade. On the ESM it is clear that...
So I hope you enjoyed the calm. I ended up taking my ball and playing elsewhere. I had said I had a strong sell signal on the Nasdaq going into yesterday, and so even when we were up on the day, I went short, and made my entire weekly goal on the Nasdaq. Additionally, I have that Soybean trade from last week I had talked about, and that is up 40 points for another...
So being how Friday ended I am not surprised we've seen some premarket momentum to carry that forward. I don't know that I see us exploding higher as the market opens today, but I wouldn't be surprised if we reach 4040 or so. I'm more expecting us to have a move back down towards 4000 shortly after the open, though I do expect today to be mostly a calm day with...
First off, I just want to say... My 6E (Euro/USD) call was my money maker this morning. I didn't go in overnight, but when I woke up I immediately saw the draw down in the 6E and hopped in. I made about $800 off that, and got out, though I think it could definitely be headed for some more downward movement. However, the S&P Futures is my bread and butter, so I...
One thing I forgot to mention on the video was the low volume from yesterday. FOMC decision days tend to have a higher volume than 1.7 million. That has also left me a bit cautious the downward move may not stick. If it is going to stick, I'd expect some continued downward motion with higher volume and more conviction. Overall, trends on the 1hr/2hr are calling...
I've said it a dozen times... remember that nothing annihilates a technical analysis like key Economic Data. So with that, at 2pm EST, it is the interest rate decision, though really I think it'll be the forward guidance that drives the market up or down. The last time we heard Jerome Powell talk (during his Congressional Hearing) he was rather Hawkish and...
So I went short this morning at 4019 based on a MACD data plot on the ESM contracts. The buy zone on a data plot was 3948, and I feel like that really followed through into today, where my sell plot was to be at 4019. I had a short preset overnight and it struck early this morning. As far as trends, we are beginning to hit a lot of higher timeframe uptrends that...
I wanna make some breakfast so I'll keep the write up short. I'm out of the market at the moment, and my overall sentiment is very neutral. The ES! contract overaly has a bit of room for us to head further south, however the ESM contract has that anything towards 3900 is going to come back up. I'll be watching for the potential of both. Overall the market...
So I had taken a small profit last night on 3997 short and then reengaged at 4000 where I had wanted to get in at to begin with. I had set an overnight cash out at 3968 based on the 1hr trendlines and while driving home today, totally forgot it was still set and it cashed me out of my short position for a profit of $1600. I'm not upset about it, but I likely would...
I don't have as much confidence in a direction today as I've had the last few days, sorry. No overnight trades for me and while I want to go Long here, I'm not so sure this is the area I want to try for a long position. Ultimately, with the money I've made the last 3 days, I think it might be a good day to sit out for me unless I see something of tremendous...
So I went short last night at 3961 believing that the late day surge was illogical. In fact, I didn't go on a tangent in the video, but many news articles said "Inflation is cooling and markets are surging". That is a downright lie, and why you need to understand Economic Data and find things yourself. CPI INCREASED from .4% to .5%, which isn't a major jump, but...
So, after crushing a $5000+ day yesterday I will unlikely trade into the CPI data this morning. Ultimately the market environment could certainly take us lower, but the market analysis says we have to go higher. Likely the cause of a massive volume day yesterday at nearly 3.5 million. Although, we are around 25 points higher this morning so far, so we could head...
So on Friday I went Long at the close of the day into the weekend. That netted a $2500 trade right away when things opened up into Sunday evening. I cashed out on that, and was pleasantly surprised to see all those gains given up overnight. I then went Long again when we briefly went into negative territory at 3894, and moved up with it slowly, where I was...