The lack of up side targets is not because that is how far I think it goes, It is due to my lack of further information. There are many ways to project a higher target but I will let action find teh level for me. I have 3295 as the over under line and below could see a strong down move into options X. but and this point if we keep with this weeks theme is we get...
Just noticed I think i labeled yesterdays post wrong, oh well, as long as i get the values right. es is trading about .5 to 1 point higher than spx500. One more up move followed with accepting balance. bigger picture balance is 3298, so call it 3300. Watch Red zone for impulsive break and retest or trade the 11 point red zone range.
The over night session is in a nice balance near the highs of yesterday. And the over night up move is worked its self off, so expecting a big balance zone as the market tries to decide what to do next, or a strong up move after the market digests the last days action.
The movement overnight on 1/7-1/8 was quite impressive and did provide a large dip. However it was quickly bought up and it appears the Iran situation is deescalating. We're seeing calls trading overhead, lots of long gamma and a reduction in VIX. As such we are looking for a move to 327.5-330 (3375 -3300 SPX) www.spotgamma.com
Over night action is all bullish and could be pointing to more up as the move. This givews a 10 point gap so will watch the gap and 1/2 the gap for possible bounce points for the long trade. Also break of the Red zone and then a retest either up or down would be plan B
SPX so strong since 2009, probably a number of reason why but the why doesn't really matter. Although the chart looks very extended it's too strong to short imo. This kind of chart tends to trigger a psychological bias in us that it 'must' be about to turn around. In reality it might not. Bad news doesn't seem to dent it so it's not immediately obvious what will...
Over night is a new ATH, so will look for a pull back to 3274 and see if we get a bounce to retest teh high or go a bit further. Unlike yesterday i now have higher targets calculated. Any move back into yesterdays trading range will have to see if the bottom of the range holds the market up and if not a strong drop could occur. So this gives us a plan a, b, and...
ES should follow yesterday with a strong up move after a nice little pull back to the 3264 area or just stay choppy for the day in the RED zone range. If ES breaks above the Red zone I have no current target areas, this is just pure air and one may need to use a Fib extension or something or ATR to know when to look at taking profits. A break below will take us...
The market has been very hot with lots of call positioning that was continuously rolled higher spurring a large rally. 325 (3250 SPX) has been a ceiling for some time and we've been unable to breach that level. The Iran news adds uncertainty which increases implied volatility and hedging. This makes puts more influential. Coupled with a "tired" market I think we...
After a massive down move we are right back into prior range and looking to complete the balancing process and until this big range breaks in a solid fashion look for a back and forth trade. however if the break happens a good size move could be happening. Will watch market reaction close for clues to the type of action. Call me crazy, but leaning to the long...
ES is in a over night balance and this will be the chop trade till the red zone breaks. will be watching for impulsive moves and preferably a breaking one.
Today I feel is going to be an teaching day, meaning it is going to be providing information that will help me learn its futures moves, baring any news. We have a short term red zone and a larger picture red zone is inside a distribution that is inside a prior distribution but the big distribution is not balanced so leaves me with a poor going forward plan. So my...
Daily chart of course shows bulls have strength and one hour if gold drops I will be looking to go long all intra day trading
After a big overnight down move the market is trying to make a balance area. Will be watching for a opening impulse move . My thinking is a move back up to yesterdays trading range, but mind is open for a drop also.
Decent R:R in a never ending bull market
Back into bullish mode and move towards the overnight all time high and further. looking for the ATH to break then consolidate to provide a good entry spot. not expected but always can happen is a retest downward back into the last week range.
Last day of the year and a short day so not big expectations, but further down is very probably after opening pop up to the area of the dashed blue line then if we break red low a move to 3105. In then event of red top break the bulls maybe back es numbers are 1 point higher.