Today is falling right into the consolidation zone and will need a break out to get a directional bias. The upper boundary is 2928 and the lower is 2916 +4 for ES trading. so will be range trading inside this range and direction trading out of this range. Will look for impulse moves out of range or range retest for direction trades
Today has a odd structure and overnight action so will be breaking the start into two areas. top are is 2935 and 2928 (SPX) (+4 to get ES numbers), and lower distribution is 2924 and 2917. This day could have the entire range as the active range 2935 to 2917, so today will sit back and see what happens on open. I do not think the down side is resolved yet but...
Second day of slight distribution so looking to see if the down side can get some momentum. Will be watching the opening range and see if we get a bit of range breaking move today. Range of 2949 (SPX) 2938(SPX) +4 for ES. down move targets 2933.5 and 3924, and the up side are 2954 and 2963. As the day opens will set up the trades we will take but have got a...
The S&P 500 reached a new all time high last week, leading many to believe the bull trend is still intact and the market is strong. However, this is not necessarily the case. Look at what happened the past 3 times prices reached this level - strong bulls and strong bears sold. Although the rally up from the 2400 low has contained strong buying pressure, prices...
One more day with consolidation at the top of an extended range. Friday was the first day to give me a tiny bit of signs that we may not go higher, but the next couple days action will be the biggest signal to that thought. Looks like a choppy Monday is in store but be ready for any impulsive move out of this range of 2961(ES) or 2959(SPX and 2951(ES) 2947(SPX)...
Status quo for this market, continue to move higher and then balance. This is telling us that we are unlikely finished moving higher just yet. I would'nt expect to see a reversal on this low volume from the overnight session.
One more day with zero signs of any bearish action so be careful if shorting. watching the range between 2943 and 2957 as a trading range and longs to 2965 and 292 above and shorts to 2937 below (unlikely on a witching day)
Markets continue to trend up and we had a nice orderly auction yesterday, falling into a previous balance before bouncing. I would highly advise against going short here, today is options expiration and while it may work to be short, it's a low probability play.
Today is going to be a hard day to post ideas prior to seeing the opening action, I will be looking for either a sideways range to be established or and impulsive move. A impulse to the down side for gap close could end about 2950 area or a bit lower, at that point if have a short will be watching close to get long. A break on open to the up side is to be seen...
Today should be very sedate until 2:00 P.M. so will be looking for a range between 2936 and 2919, will looks for smaller trades in that range until we see a break out of this channel. Above this range will target 2945, and below looking to target 2905. Will follow up with where I entered to help you see how I evaluate the trade
Today after the big overnight move on ECB hot air, the inventory got real long , and would think a pull back to get long could be a good set up, would look for the 2906 area for this launch point. however if we get open up rip then it could be a grab onto anything on the train sticking out as it rips past you towards 2935 and further. In the odd situation we get...
Hourly chart. Hourly bar closed below the wedge. Backtest completed after hours. Could be a hint at what is to come for #FOMC Wednesday.
Today will be looking for range trading long from range bottom and short from range top, this will only change if we can clear the 2885 and the 2910 zone. If anyone would like further info on how I trade these ranges please reach out
the action has been in a multi day consolidation and as long as we stay inside this consolidation range my trade will be longs from the 2883 to 2875 bottom area, and shorts from the 2897 to 2904 topping area. will be only looking long above or short below if we can clear out of this range. Could be a very choppy day so profits will be protected when we get close...
The index has touched the median line and has been rejected so far - the 2900 area is a tough one to crack. Money Flow Index is slightly bullish >50, but with the risk of inverting. Bias at the moment is Neutral-Short, would flip to Short below 2880, even more so on the confirmed break of the 1st descending trendline (2870-2860 - faint red). There also could be...
today will be looking a a opening down move to 2878 or 2884 area to get long to a close target of 2888, 2895 and 2908, any move below 2877. I will then be looking to grab short trades, with targets of 2871, will be watching for retraces to act on or impulse moves that hold in the top or bottom of the impulse . If I up date my entry ideas during the day they will...
Today will be looking for a break of the 2871 for shorting trades, and above 2885 for long trades. I think we open with a opening up push and then will look for rejection for a short trade that test or breaks 2871., 2894 on the up side will change that point of view and will look to re test 2900.
will start today's post with all the levels up and down i have. 2943, 2926, 2914, 2908, 2882, 2878, 2860, 2835. I do not think they all will be hit, we have upper levels for up side breaks and lower levels for down side breaks. I have no opening bias for adjustment before it moves so likely will be a further push higher. A choppy day around the dashed line is very...