Potential Breakup for ES FuturesThe backtest of supports held sending price back up to the resistance trendline. There lots of resistance above but the 3500 bounce from the 2 month zone had the energy to push this higher.
Es_f
#ES_F daily play: Dec 02Yesterday support came in at 4055. Well done bulls
Today ON session is lackluster with less than 20 pts. range.
Pivot: 4066.
Previous resistance: 4045-50 range. May tag.
Play today: Long >4085; Short <4065
If O830 NFP data is inline it will further embolden bulls.
ES flaggingNot much to do here, still digesting yesterday's move.
Im not touching a thing here just yet
ES resistance is at 4018-19, about to test the broken trendline!Watch this test and if its rejected, it will be very bearish going into Dec.
Im going to short 4018-19 level with a 10 points stop
ES resistance is at 4048Remember that the FED day usually gets reversed in full by Fri.
Dont get relaxed if long, have stops!
Close above 4050 then it will be a perfect setup for 4100+ trade
NQ is still behind, needs to catch up
ES targetting 3983-86 as overnight highIf its in a bear flag, the price should push up to test 83-86ES level
Below the lower support trendline it should go down to 3925 area or so
ES tonights pathwayUnless its not going down to test mid 39 hundred, we should see a good size retracement into am and then continue lower to test 3927-30 zone, if not more
ES support and resistance zones for next 2 daysDont expect a full breakdown to 3750 just yet, but it will get there.
The best trade will be a short of the broken trendline!
Its coming, so if you want to short, wait for a setup, dont short in the hole here.
I will be looking for a long and then will short that trendline test
ES Breakdown from the triangleWatch the test of the breakdown area for the short opportunity with a stop.
SPX tested the bottom of the channel and bouncing off from it.
Im going to short tomorrow hard before the FED on the 30th, its also a panic day
ES straight into the first support zoneI have exited my half ES short at 4020 and now long from 4018.50, looking for the gap to be closed.
There is still a chance for the price to hit a higher high, but the SPX should not get above the last week high.
The top is so near, it might come tomorrow if it was not already hit.
EOM sell could be very brutal, you were warn, manage your stops and leverage
ES flagging, will break to downside imoES is simply flagging, didnt really go anywhere with no vol.
Watch tonight's action for a direction clue.
Tomorrow (Friday) and Monday are directional change days, can move in one direction.
I want to see a gap down on Friday and move up into Monday high.
Dont want to see Monday as a low as it could invert the cycles and make the 1st as a high.
Looking for a strong move down from Monday high into 1st low.
CPI gap should get filled at some point, ideally we do it quick going into the 1st low.
Happy Thanksgiving Everyone!
ES 4016 now support zoneI want to see a slow grind down to 4016-20ES zone for a potential bottom and then one more up to 4069-81ES to finish the whole move up
Ideally we see that low on Fri open
I have a turning day on the 28th, should mark the high.
Below 4016 the price will see a support at 3990-94 and if below 3969-73.5
Make your bet for Fri open, share with others on other sites. Lets get a better picture of an average
strawpoll.com
Im short half size for 4020 exit or stop above the highs
Happy Thanksgiving Everyone!
ES is in triangle, my bet we gap down from itI have 3 targets for the Fri low:
- 4017-20
- 3992-88
- 3972-77 ideal target
I will be buying am lows on Fri for Monday maj high
Make your bets on attached link Poll link below
Gap down, up or flat Fri open
strawpoll.com
Happy Thanksgiving Everyone!
ES getting close to its resistanceSupport box provided for those who want to enter with longs AHs.
Im currently short from 4009.50, will add and will buy back in low 3980 if opportunity arises.
Tomorrow is a FED, dont expect much movement till after the minute release at 2pm.
ES is about to breakoutNeeds a close above 3971ES and re test of the broken trendline.
Im going to get some longs if it does.
Also have some 403 SPY calls for tomorrow's open, in case it gaps up.
If this breaks out, it can go over 100 points easy.
Waiting for a false breakout to short, ideally before the FED or right after.
Tomorrow's open is a gap and crap imo
ES consolidation looks interestingBreaking upwards of 3965-3970 with good volume, should indicate an long entry.
#NoTradesYet but ...
The consolidation is "interesting".. to say the least ..
#PaytiencePays #RDT #RedDevilTrades #RedDevilCharts
ES is similar to SPXNeeds above 3974ES for a move to 4007, otherwise looking for lower levels to be seen.
Its a good flooring setup for a move higher, but the time is running out.
I think SPY will close in between 395 and 396, currently at 395.25
Supports are the orange lines on the chart
spx updated channel with vwapsbuy dips sell rips will work for now... next or second next dip should start a rally withou decent pullbacks for weeks to come...
ES support is at 3944 and 22Expect some choppiness here and reversal tomorrow.
Thursday is a panic day, we will see what it has in store with the developing news
ES watch the bull flagWhile NQ is getting close to its resistance, ES is about to break the flag here.
Watching the flag to break to pop in on the long side, otherwise not really doing much at this time
Watching the close above 3959SPX for a continuation into 4010+ zone next week.
Will jump on the long side if we hold that level on the close
$SPY: updated short term viewWe have a setup indicating immediate upside towards the area where a cluster of earning season related key levels align, and the mid point of the Ukraine invasion range sits, to be hit likely by late November.
The question is whether bonds have bottomed long term here, as that suggests the trend in the Dollar is reversing, which could have big implications for earnings in foreign currency and basically everything as it impacts sovereign entities with Dollar denominated debt, households squeezed by rising mortgage rates, etc.
Regarding equities, we could be at a juncture where we have an extended sideways bear market, which doesn't exclude powerful rallies lasting a few months, with substantial corrections as well, perhaps lasting until the next decade. As usual, we go step by step, but I've selected some long term positions I intend to hold on to, for as long as logical, depending on how fundamentals evolve, rebalancing when needed or rotating into other names with a larger opportunity vs risk, etc.
Trading wise, I suggest to set aside 25% of the capital for short term trading and dedicate 75% of funds for long term ideas. Risking 0.25% per trade in the trading account (1% of 25%) has been solid advice since I recommended this to my client base back in March. It was not the time to play Rambo in markets...But some big moves are brewing here. If interested in learning more, contact me.
Good luck!
Ivan Labrie.
ES broke down from the rising wedgeRising wedge was broken down and retested from the low
Im short here, scalp.
ES has to get above 3880 and stay thereWell we got a big a$$ green candle after the CPI.
The crash possibility is off the table, now lets see what the price to show us direction.
First yesterday's highs were taken, bullish sign.
The price must get above 3880ES and stay there, then it has a great chance of pushing up.
SPX main resistance is at 3905-07, closing above will get us to 3960 and ultimately 4010-20SPX.
Failing to close above 3880ES will fade the price down, can be a huge trap if that happens
