In the Prior Daily ES Chart, the Trend is clear.
Confidence remains dour on balance.
The FED's Waller Mester and Bullard were aggressive in their Communiques.
Nothing Positive there, other than more stirring of the murky waters.
Fed Funds Futures are quite clear and the FInancial MEdia ran with it this week.
Looking for a FED Pivot?
Bullard negated that....
After yesterday's 8:30 Stop run (Missed the FIll for SELL) the retracement was exceedingly weak.
The Range expanded significantly with 3812 unable to Hold a Key Weekly Pivot.
3506 remains wide open on the Daily, breaking 3588 now becomes a very serious problem ahead
EPS.
There has been another VIX disconnect to Price as ROll Over began yesterday for M1.
PCC...
Yday before CPI we ran up to take stops and sell lower inventory into the stops until CPI hit and the bid dropped, we hit our lower Key Level at 3764.75-3760.50 where we found support and we able to put together a position to go and back fill the CPI move back towards our Globex inventory area where we found sellers who took us back under Key Level of...
ES is sitting at the support zone, breaking below will get us down to 3630-60 zone quick.
C&H pattern failed, no good news to the bulls till lower lows next week imo
In case of a H&S pattern, we should see 200 points plus below the neck zone - green support line.
That would get us to my ideal target zone 3500 and 3555-50SPX
Yesterday continued the Games ahead of 8:30 AM EST and the balance of the Week for Macro Data.
There is nothing good out there.
Wholesale Unleaded is off 27% and the Price at the Pump is the same.
10.2% CPI Leak yesterday hooked a few fish until Redmond decided to Lay Off some Waffle Cones,
preferring Cake Cones for the Softie dispenser.
Mega Caps cutting...
With tomorrow being the Show and Tell for CPI... anything remains in the wind.
Tesla gapped and crapped hard... Eron's spawn appears to shaking off the Twitter
Twatter fraud. Twitter is looking for $24 at best, Junk Co / Spook Co Junk.
AAPL and the rest of the 711's showing signs of continued Distro after the rotation
into TECH from picking any SPY/X Sector...
The Overnight push down had us gapping and opening above the 26.47 level i have been watching since last week .
-Monitoring the 26.74 level for potential long trades on the $NQ.
-Monitoring the 27.38 level for potential short trades on the $NQ
Cash VIX has been managed lower during the post-Solstice Squeeze
by the Crooks on the Order Books.
Typical Summer so far, but it's about to get very interesting.
While some are insisting New ATHs are ahead... we're going to be
Sellers of ES YM NQ outright at levels.
IV is quite high with an elevated VIX so prems on SPY Sep - Jan
remain quite high, ditto...
Shows LVN's, HVN's, and the POC. I pair volume profile with supply and demand and auction market theory to day trade. This larger time frame profile helps me align with the intraday profile. CME_MINI:ES1!
The S&P 500 actually bottomed in June 2022 right at the 3rd Fibonacci extension from the Great Depression high. (The Fibonacci levels here were drawn from the all-time low in the 1880s to the high in 1929 right before the Great Depression).
Since the S&P 500 corrected down to an extremely important Fibonacci level and cleanly found support, this could be quite...
Yday we opened up above our 3866.75-3863.25 level and drove straight through Previous day high, came back and tested and found support which told us we will be trading towards the upside and we knew we will have singles up there which = supply so we will need some buying to chew through that, day was grindy as mostly all the buying is from shorts being bought in....
Nearly all high short interest Junk was squeezed - only 2 of 100 did not participate.
The Gamestops of the Indies saw intense short-covering all day. The bigger
the Junk the larger the Squeeze. Even the Apes crooked some relief. Comical
and excellent opportunities are setting up for Oct-Dec Put Ladders in Junk Co
Junk.
Patience will win there, let them run the...
Yday we were able to hold above our Key Support at 3809.50-3805.25 and after the FOMC release got a push over Previous Day High and over next Key Level of 3853.25-3847.25. Globex we failed to get back under 3853.25-3847.25 and accept and got a push back over it but so far we have been hanging out here between Key Level and next level up under Previous Day high...
The Distribution pattern is evident within each wick on the 4 Hour
candles.
Bring it up, Sell it down - over and over.
Large Negative Ticks bring the FANGs lower only to see the TICK
reverse and squeeze sellers. AAPL & TSLA are being used to chop
Intra-day - multiple times within a broadening short-term range.
End of Day, the Squeeze, over and over into the...
Yday we tested the T2 Low/Previous day Low and found support there and were actually able to drive back towards previous day high, in Globex we attempted few times to get over Previous Day High with failures but we are not getting much selling because we still have shorts trapped below who buy this up every time we come down towards the singles. Question today is...
Mega Cap Tech kept the ES off the ledge Tuesday.
Tesla let up on its Intra-Day Distro. Kimball must have sold enough for now.
He and Eron will be back.
More Tesla fraud to come, without question the Cooks are in the Kitchen.
Given the Dinosaur NUMI Plant is building Model 3's in tents again... one can
only imagine the Sous Chef's creations.
One Problem though...
Friday with held inside previous days range as we thought we might since it was a lower volume day before the three day weekend. In Globex we continued our Friday strength and last night were able to drive above Previous Day (Friday) High and hit next Key Level of 3853.25-3847.25 where we found sellers, we spent time over the high selling inventory and once we did...
Im expecting the am lows to hold and rip back to 3880 and ideally 3915
Should top on 7-8th and continue move lower into mid of the month as per my weekend update
