Recap Last week, ES ended with a rare 4-day losing streak, pushing the RSI(5) into oversold territory. Despite a short squeeze yesterday, ES failed to close green, ending the day around the same spot as Friday. However, a bullish hammer candle was formed, indicating potential for a bullish follow-up today. The Markets Overnight 🌏 Asia: Mixed 🌍 Europe: Mixed 🌎...
Recap Last Friday, we saw the market slowly grind down through supports all day, with a few minor relief pops. This marked the fourth consecutive red day for ES, closing at the lows. At the same time, the RSI is nearly the most oversold this year, leading to speculation about a potential relief bounce. In this newsletter, we'll discuss the triggers and setups...
Recap After being in corrective mode for several days, ES arrived at the technical equivalent of ground zero - the 4330-36 zone. This zone is significant as it defines the uptrend that ES has been in for exactly 1 year. The arrival at this zone resulted in some of the most volatile, trap-filled, bipolar price action in many months. The 4330-36 zone was tested 5x...
The past few days were quite choppy for SPX. However, S&P 500 E-mini Futures have not broken above the 0.5 Fibonacci retracement level. That allows us to maintain a bearish stance and keep the recently introduced setup valid. As a result, there is not much to write about today, except for one noteworthy thing that caught our attention overnight: one of the largest...
Recap Yesterday marked the fifth consecutive day of intensive rangebound trading, making it one of the choppiest days in recent months. It ended with a late-day downward trend, following a 187-point rally from the October 6th low. The market spent nearly a week in consolidation mode, oscillating between 4366 and 4418. This range eventually tightened and peaked...
This expectation is a framework to look for a potential trading setup; I don't just execute based on these levels, I always wait for confirmations on lower timeframes This Analysis was done using my complete Strategy which includes: - Smart Money Concepts - Multi Timeframe Liquidity and Market Structure - Supply And Demand - Auction Theory - Volume Analysis -...
Recap This trend continued yesterday as the ES continued to build a base between 4360 and 4410-20. Despite a lucrative run today, ES has ultimately been displaying a lot of volatility to go nowhere, as we continue to base in the 4410-20 to 4360s range. This will inevitably result in a large trend move. But in which direction? The Markets Overnight 🌏 Asia:...
ES has shown great strength lately. We've had a bull flag break, retest of that full flag, into more demand. I think we'll see a measured move.
Recap Last week saw the ES snapping its five-week losing streak. The catalyst? A recapturing of its core bull market trendline from October 2022 on the 6th, triggering a robust 187-point rally. Though the week ended on a lower note, it presented a tactical buying opportunity. ES is currently in a 3-day limbo, fluctuating between 4410 and 4355 since last...
Recap This week started off with a statistically significant rally, with 4 green days in a row, totaling a 187 point rally from last Friday’s low to this week's high. This made it the largest 4-day green stretch of the year. After 5 red weeks in a row, ES managed to put in its first green week, marking a reversal week. However, after reaching major resistance, ES...
On Friday, I gave a long 4340 for a move to higher and a short 4380 for a move down () . Both trades would have worked out; though eventually, it was the bears who won. As mentioned in my NDX plan, should not have faded the bearish price action of Thursday; as in, probability of a bearish continuation is higher than that of a reversal back up. Weekly price action,...
The primary level yesterday plan was 4430-4450 zone which was expected to be resistance for longer time frames as well as for the intraday session. We could barely do any trading above this level and we traded down into 4400 even before the cash session opened for business. 4400-4410 has even an important level for past few sessions and I expected some support...
Recap Yesterday was a volatile trading day, with the CPI data release causing some significant market movements. The initial move down to 4393 was a trap for shorts, followed by a squeeze to ~4418, which trapped longs, and then a significant move lower. This pattern of trapping is common on data days, making them challenging to trade. The past week has been...
Finally, the SPX rebounded to the level we initially expected it to reach (outlined last Friday). This move was accompanied by a bullish reversal in RSI, MACD, and Stochastic on the daily chart. To support a continuation higher, we want to see these indicators continue to develop bullish structures. However, to support a thesis that this is merely a correction of...
Recap In the past few days, the SPX has seen a massive uptrend, with Friday marking the single largest range green day of 2023. This was followed by two more rally days on Monday and Tuesday. As predicted, we saw a pullback and consolidation yesterday, with a dip mid-day to 4377. However, this was bought with force, indicating the strength of the bulls. The...
Recap In the past week, we saw a significant technical shift with ES reclaiming the 4310 level, its core bull market trendline from October 2022. This put the bulls back in control and corresponded with the start of bullish October seasonality. The week had straightforward trading, with the market pulling back to the 4310 level before triggering a two-day rally...
Recap Friday was a significant day for the ES, with it reclaiming its core bull market rising trendline from the October 2022 lows at ~4310. This week began with a significant gap down due to weekend headline catalyst out of the middle east. However, the action at the open demonstrated just how powerful simple technicals remain even in the face of geopolitical...
Recap Last Friday, we witnessed a bullish breakout in ES. The movement was anticipated and played out well, running over 100 points from the day's low right to the final target of 4348 and beyond. The ES reclaimed its core bull market trendline from October 2022, which was necessary to set a low. The Markets Overnight 🌏 Asia: Mixed 🌍 Europe: Down 🌎 US Index...