SPX plan for the weekA walk through of what I think is the most probable price action for the week. I'll update on a static chart tomorrow. Good luck!
Es_f
ES at must hold resistance level on the closeNow lets see if it closes on the lows (bearish into tomorrow) or will continue push higher (bullish into tomorrow open)
ES 5 Down Targets 3980Im not an expert in EWT but this is what I see in case its going to make a new low.
Im going to buy that area for a bounce
#ES_F Inverse H&S pattern may unfold.If this week's economic data and FED speak is perceived as supportive by the market, and #USD tanks, then the inverse head and shoulders can trigger with a potential 600 points move in #ES_F in the fullness of time.
#ES_F Potential Bear Flag ?ES appears to be forming a bear flag with a breakdown implying a move to 3400 ,
Good support at 3800 , would be looking there for a bounce / reversal or more downside to target 3400.
MES / ES Futures ! Next move !12/5/22 - I would like to wait until price gets to the yellow line just above it, then check for any divergences to hint for any downside plays.
ES stopped at its bull trendlineLook where it stopped, loosing 3985 will be very bearish going into tomorrow.
Im looking for a long trade, ideally we make a higher low tonight.
The pathway for tomorrow can be a gap up and then sell into Wednesday or Thursday
Very important to watch that trendline holing and if broken, there will be a perfect short setup when it retests that trendline from the bottom.
If it wont re-test the thredline from the bottom (again if broken down), then it will be very bearish!
Im thinking we will see The whole Powell speech erased, support is at 3940-50ES for the whole move down.
Lets see if the price can get there tomorrow, it will be a good long entry for a 40-50 points move up
Also I have a great confidence that the whole CPI move will be erased at some point, will it be end of this year or Jan, I dont know at this moment.
15th is the Panic Cycle Day, also 1 day before OPEX.
Best scenario is we bottom after CPI and rally into Last week of Dec
As of now, I see a trading cycle turn bearish, so short the rips will be the game for me.
ES coming to its support zoneLooking for 4007-11 to enter with longs and exit some short from 42.
So far so good since my yesterday update!
Powell's move is getting erased
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 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.
