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Trading Plan for Wednesday, May 22nd, 2024Trading Plan for Wednesday, May 22nd, 2024 Market Sentiment: Bullish, consolidating within a tight range. Expecting a breakout, but with heightened anticipation due to Nvidia's upcoming earnings after the bell. Important Note: Nvidia earnings after the bell could significantly impact market direction and volatility. Be prepared for potentially large, unpredictable moves. Key Supports Immediate Supports: 5335 (major), 5329, 5322 (major), 5307 Major Supports: 5300-02 (major), 5272-68 (major), 5235-40 (major), 5217-21 (major) Key Resistances Near-term Resistance: 5346-49 (major), 5369 (major), 5401-03 (major) Major Resistances: 5412-15 (major), 5438 (major), 5472-76 (major) Trading Strategy Nvidia Earnings Watch: Exercise caution and be prepared for significant volatility following Nvidia's earnings announcement. Consolidation Breakout: The market is coiling up for a potential explosive move. Focus on the 5302-5347 range for a potential breakout in either direction. Long Opportunities: Look for bids at 5329, 5322, or 5300-02 if they hold after potential tests. Consider taking profits level to level, especially given the heightened risk environment. Short Opportunities: Avoid shorting green candles and breaking trends, as the win rate is typically low in such scenarios. However, for those comfortable with counter-trend trades, monitor 5412-15 as a potential shorting zone if price rallies significantly after earnings. Bull Case Bull Flag Breakout: The current consolidation range could be interpreted as a bull flag. An upward breakout above 5347 would target 5369 and 5401-03, potentially leading to a strong upward move. Holding Support: If the 5322 support level holds, expect further consolidation and a potential breakout later. Bear Case Breakdown Signals: A convincing break below 5302 would trigger a deeper retracement, potentially retesting the 5272-68 (major) and 5235-40 (major) zones. Shorting Opportunity: If 5302 is tested and followed by a bounce and acceptance of lower levels, consider entering a short position around 5299 for a level-to-level move down. News: Top Stories for May 22nd, 2024 🌐 IMF Highlights Cybersecurity Risks to Financial Stability: The International Monetary Fund (IMF) has issued a warning about the increasing threat of cyberattacks, which pose a significant risk to global financial stability. This underscores the need for enhanced cybersecurity measures across the financial sector. 🏦 Federal Reserve's Cautious Stance on Inflation: Minutes from the Federal Reserve's latest meeting reveal a cautious approach towards inflation, with officials prepared to adjust interest rates if economic data warrants. This has implications for future monetary policy and market expectations. 🌍 Global Trade Prospects Brighten: Reports from the IMF, WTO, and OECD suggest a rebound in global trade, driven by easing inflation and a robust U.S. economy. This recovery follows a slowdown in 2023, with significant implications for global economic growth. 📊 Economic Outlooks and Forecasts: Various economic outlooks from entities like J.P. Morgan and Deloitte provide insights into future economic conditions, highlighting the ongoing adjustments in response to geopolitical risks, inflation concerns, and policy shifts. These forecasts are crucial for strategic planning and investment decisions.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Wednesday, May 15th, 2024Trading Plan for Wednesday, May 15th, 2024 Market Sentiment: Bullish, consolidating within a tight range after a strong rally. The market could continue to build out a bull flag pattern or break out directly to new highs. Key Supports Immediate Supports: 5329 (major), 5318 (major), 5302-04 (major) Major Supports: 5272-74 (major), 5236 (major), 5208 (major) Key Resistances Near-term Resistance: 5347 (major), 5365-67 (major), 5386-89 (major) Major Resistances: 5404-07 (major), 5450 (major) Trading Strategy Chop Zone Management: The market is consolidating within the 5302-5347 range, with an even tighter range of 5329-5347. Avoid overtrading and focus on level-to-level scalping for small gains. Long Opportunities: Look for a bounce and reclaim above 5317 if the 5309-11 area is tested. If the market dips lower, consider longs at 5302-04, 5272, or 5287 (major). Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, 5342-47 may offer a potential dip, but proceed with extreme caution. Bull Case Bull Flag Continuation: The market may continue to build out the 5309-5342 bull flag pattern, potentially breaking out for a new push into all-time highs (ATHs). Target 5359, then 5375-77 in this scenario. Consolidation and Breakout: If the market consolidates within the 5329-5347 range and breaks out above 5347, it could target the resistances mentioned above. Adding on Strength: Monitor overnight action for potential flagging below 5219 as a possible entry point for adding to long positions. Bear Case Breakdown Signals: A convincing break below 5302 could trigger a deeper retracement, potentially targeting 5272 and lower. Entry Points: Look for a bounce attempt and rejection at 5302, then consider entering a short position around 5300. Remember to manage risk with level-to-level profit-taking. News: Top Stories for May 15th, 2024 📈 Renewed Market Rally: The stock market has experienced a renewed record-setting rally, surprising many of Wall Street's top strategists and prompting revisions of year-end S&P 500 targets. This surge reflects robust confidence in market fundamentals and investor optimism. 🌍 Geopolitical Tensions and Commodity Prices: The death of Iran's President Ebrahim Raisi in a helicopter crash has introduced new uncertainties into the oil market, potentially affecting global oil prices. Concurrently, gold futures have reached new record settlements amid growing geopolitical tensions and rate-cut expectations. 🏦 Federal Reserve's Economic Outlook: The minutes from the Federal Reserve's latest meeting are highly anticipated as they may provide further clarity on the timing of potential rate cuts and reveal the level of consensus among policymakers. This release is crucial for understanding the Fed's future monetary policy direction. 💼 Corporate Earnings Reports: Nvidia's earnings report is particularly significant as it is a key driver of the S&P 500's recent growth. Investors and analysts will be closely watching this report to gauge the health of the tech sector and its impact on broader market trends. 📊 Global Economic Indicators: Recent data releases, such as the CPI report and retail sales data, have fueled speculations of a cooling economy. These indicators are essential for assessing the overall health of the economy and potential shifts in monetary policy.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Monday, May 20th, 2024Trading Plan for Monday, May 20th, 2024 Market Sentiment: Bullish, consolidating after a historic rally. Key Supports Immediate Supports: 5309-11 (major), 5302 (major), 5294 Major Supports: 5267-72 (major), 5232-35 (major), 5208-11 (major), 5150-55 (major) Key Resistances Near-term Resistance: 5329, 5333 (major), 5342-5345 (major) Major Resistances: 5375-77 (major), 5404-07 (major) Trading Strategy Consolidation & Pattern Formation: The market is in a post-rally consolidation phase, likely forming a bull flag pattern between 5309 and 5342. Expect choppy trading with potential for breakouts or breakdowns. Long Opportunities: Wait for a test of 5309-11 support, followed by a bounce and reclaim above 5317, as a potential long entry signal. Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, wait for a confirmed breakdown of 5302, then look for an entry around 5300 after a bounce or failed breakdown. Level-to-Level Trading: Focus on scalping profits within the range as the market consolidates. Exercise patience and avoid overtrading in this choppy environment. Bull Case Bull Flag Continuation: The market may continue to fill out the 5309-5342 range, potentially leading to a breakout toward new all-time highs. Target 5359 and 5375-77 in this scenario. Adding on Strength: Monitor overnight action for potential flagging above 5309 and below 5219 as a possible entry point for adding to long positions. Bear Case Breakdown Signals: A breakdown below 5302, with confirmation from a bounce attempt and rejection, would signal a more significant correction. Use caution with breakdown trades as they are prone to traps. News: Top Stories for May 20th, 2024 🇨🇳 Steady Benchmark Lending Rates in China: Amidst ongoing efforts to stabilize the property sector, China's central bank has maintained its benchmark lending rates. This decision follows a series of bold measures aimed at addressing challenges in the property sector, highlighting the delicate balance the government seeks to maintain in its economic policies. 🏦 Federal Reserve's Upcoming Policy Meeting Minutes: Investors are keenly awaiting the release of the minutes from the Federal Reserve's recent policy meeting. This document is expected to provide critical insights into the Fed's economic outlook and future policy directions, influencing market sentiments and investment strategies. 🌐 Geopolitical Tensions and Trade Policies: The global trade environment remains tense as geopolitical issues continue to unfold. Notably, the U.S. President's decision to raise tariffs on Chinese goods has reignited debates over the economic impacts of such tariffs, with potential repercussions for international trade relations and domestic economies. 📉 Global Market Reactions to Mixed Economic Data: As the world economies emit mixed signals, global markets are poised for a potential summertime rally, albeit with an awareness of the risks that could derail such optimism. This scenario underscores the complex interplay of economic indicators and market psychology in shaping investment landscapes. 🏦 Regulatory Adjustments and Financial Sector Implications: Discussions among regulators about reducing proposed capital requirements signify a shift that could enhance the clout of banks. Such regulatory adjustments are crucial as they could affect the stability and operational strategies of financial institutions globally, reflecting broader trends in financial regulation and oversight.
CME_MINI:ESM2024Long
by spytradingpro
Short term analysis for ES or MESCME_MINI:ES1! Broke out a 1 month flag on May 6th (in white). This pushed us to all time highs and now the spot buyers want to get over for next week is the 3 month megaphone resistance at 5349 area (in green). Get above there and buyers can push for 5374. If sellers want to dip us this upcoming week, it can start on the fail of 5302. which will target 5274 area. now realize, it has been one hell of a run, coming off 10 straight greed days. Consolidation between 5302-5349 is ideal for Monday in my opinion. Only time will tell!
CME_MINI:ESM2024
by ESMorg
Trading Plan for Friday, May 17th, 2024Trading Plan for Friday, May 17th, 2024 Market Sentiment: Uncertain, as the market shows signs of fatigue after 10 consecutive green days. Traders are anticipating a pullback and adjusting strategies accordingly. Important Note: It's OPEX Friday, which often leads to choppy price action and pinning (price moving a lot but ending near the starting point). Exercise caution and be prepared for potential traps. Key Supports Immediate Supports: 5309-11 (major), 5294 (major) Major Supports: 5271 (major), 5249 (major), 5217-20 (major) Key Resistances Near-term Resistance: 5329-31 (major), 5342 (major), 5361 (major) Major Resistances: 5398-5400 (major), 5433-36 (major) Trading Strategy Post-Rally Caution: The market is overdue for a correction after the recent parabolic move. Prioritize protecting profits and consider reducing exposure. Long Opportunities: Look for failed breakdowns at 5309-11, followed by a reclaim above 5314, as a potential long entry point. Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, look for a test and bounce/failed breakdown at 5309-11, then consider shorting at 5306 for a move down the levels, exiting all runners at 5294. Proceed with extreme caution as shorting in an uptrend is risky. Level-to-Level Focus: The breakout from the downtrend channel has created a volatile environment. Trade the provided support and resistance levels rigorously and take profits aggressively. Bull Case Holding Support: Defending 5309-11 is crucial for maintaining short-term bullish momentum. A hold here would allow for further base-building and potentially another leg up to 5330, 5342. Bear Case Breakdown Signals: A convincing break below 5309-11 triggers a more significant dip. Consider shorting at 5306 after a bounce/failed breakdown confirmation, with level-to-level profit-taking. News: Top Stories for May 17th, 2024 🌍 Eurozone Financial Stability Risks: The European Central Bank has issued warnings regarding the fragility of financial stability in the Eurozone amidst ongoing geopolitical tensions and policy uncertainties during a significant election year. 💼 U.S. Defense Spending Surge: Recent U.S. military budget allocations have reached new heights, with significant implications for global military and defense strategies. 💰 China's Treasury Sell-Off: In a notable shift in financial strategy, China has reduced its holdings of U.S. Treasury and agency bonds, marking a record sell-off that underscores evolving trade and economic relations. 📉 Federal Reserve's Interest Rate Strategy: The Federal Reserve signals a cautious approach towards interest rate adjustments, reflecting ongoing concerns about inflation and economic recovery. 📈 Global Trade Dynamics: A significant rebound in global trade is anticipated, driven by easing inflation and robust economic activities in key regions, promising a shift in international trade flows and economic recovery.
CME_MINI:ESM2024Long
by spytradingpro
#ES_F Day Trading Prep Week 5.12 - 5.17Last Week : Last week market opened above 5159.25 - 54.25 Key Resistance and gave a pull back/hold of that area showing us that it was holding as Support now. We knew that from there we could either Fail at or around VAH and pull back under that Key area or we could get through VAH and if we hold above that can bring in more buyers to give us pushes towards the above Edge. We were able to push through VAH during Globex session creating a gap which held above VAH during RTH and gave us the first push to the above Edge. Rest of the week we spent consolidating around the Edge / above VAH without being able to push back in or even tag the VAH area which brought in more buyers to create a cost basis around that area and once selling ran out we pushed for next ranges VAL. As we saw from Fridays action we still have sellers at VAL and could not accept above 5249.75 - 44.75 Key Resistance for now, if we remember that area of 5263.25 - 5282.25 above VAL is our previously created GAP to the downside which we created when we first found the top in April, this gap was filled pretty quick but it was so big and still had Supply above so I decided to keep it and we can see on this retest that we still had Supply in it after spending time away from it. This Week : We are at tricky spot here as we now again have a Cost Basis and Support under us but also have Supply with Sellers above, of course this could be a spot for big reversal or for continuation through VAL inside above Value to start spending time in the BUT it could also be a tricky spot where we will spend time between this Supply and Cost Basis areas until market cleans up and accepts higher or lower. Volatility is down and we are getting closer to Summer trading which could mean even less volatility without big money trying to move the markets too much as we are now in a good spot for lower distribution, we can use the Supply above to keep us under and Supports below to keep us up while we clean up and fill orders. Going into this week we are set to open inside 5249.75- 5199.75 Intraday Range, we are inside Previous Day Range and just at or above T2 Range which to me says watch out for slower smaller range trading. Will it be the case ? we will have to see but what we know from Friday action is that we have buyers at 5234.25 - 30.25 which is the top of our Intraday range mean and we will call current Support, we also have buying at or right under 5240-38 area which kept us above the 34-30 with only one good test of it and we have Selling at 5264.75 - 60.75 which will be our Current Intrarange Resistance if we want to try and accept in the above Range, we also need to watch out for 5256 - 54 or so area as well because we have trapped supply over it on Fridays flush, we could spend some time around these above mentioned areas until we can decide if we will accept in the new Range above or if we will build up enough Supply to fill the buyers under 5234 - 30. Yes 5249.75 - 44.75 is still Key Resistance but for now it could act more as an intraday mean between our buyers and sellers and price may want to keep coming back towards it until we can either accept over 64 - 60 and start balancing in that Mean to show acceptance or we get under 34 - 30 into that Mean to fill the buyers. Careful for smaller ranges and quicker reversals, I have observed for now that with good entries market is giving 7-8 point clean moves until the reversals and chop come in, and will sprinkle in occasional 10 - 12+ moves but going into the beginning of the week I will focus on catching more of these 7 point moves from around the levels and not worry until bigger targets until market will show that it has potential for it because its easy to get caught up waiting for bigger moves and either giving back good profit on reversals or while waiting for continuation and end up ruining mental capital, instead can try and catch 2-3 of these 7-8 point moves and have a nice day. Levels to watch : Current Range 5249.75 - 5199.75 Means 5234.25 - 30.25 // 5219.75 - 15.75 Key Support 5204.25 - 5199.75 5240 - 38 and Under still has Buying and 34 - 30 can keep acting as Support longer than we want but if we accept under we need to watch out for balancing between the Means If Accept Over 5249.75 - 44.75 we have 5256 - 54 and 5264.75 - 60.75 to watch out and for price to possibly be coming back towards and under 49.75 - 44.75, would need to start balancing between 5264.75 - 5275.25 to show better acceptance in new range but if anything levels here would be Means 5264.75 - 60.75 // 5279.25 - 75.25 Key Resistance 5295.50 - 90.25 IF Accept under Key Support and Edge Low levels are Means 5188.25 - 84.50 // 5174.25 - 70.50 Key Support 5159.25 - 5.25
CME_MINI:ES1!
by HollowMn
Trading Plan for Thursday, May 16th, 2024Trading Plan for Thursday, May 16th, 2024 Market Sentiment: Bullish, but highly extended and statistically due for a significant pullback after 10 consecutive green days. Proceed with extreme caution and prioritize protecting gains. Key Supports Immediate Supports: 5308-10 (major) Major Supports: 5272 (major), 5253-56 (major), 5200-02 (major), 5145-50 (major) Key Resistances Near-term Resistance: 5327-31 (major), 5337 (major), 5370-72 (major) Major Resistances: 5395-5400 (major), 5430-35 (major) Trading Strategy Extreme Caution: 10 green days in a row is statistically rare, and a deep pullback could occur at any time. Long Opportunities: Avoid chasing long entries at current levels. Focus on potential bids at 5308-10 only after a dip and strong reaction (ideally, a failed breakdown of the afternoon low). Consider deeper longs at 5272, 5253-56, or lower majors only on strong confirmations (failed breakdowns of lows, etc.). Short Opportunities: While shorting in a strong uptrend is discouraged, those comfortable with counter-trend trades may consider the 5370-72 zone, but only after a bounce/failed breakdown. Proceed with extreme caution. Prioritize Preservation: Focus on protecting profits and minimizing risk exposure in this highly uncertain environment. Avoid overtrading and wait for high-probability setups. Bull Case Ultra Bull Case (Unlikely): ES needs to hold above 5308-10 on any dips, with a new base forming between 5308 and 5331. This would be the most bullish scenario, leading to a potential test of 5337, 5348, then 5370-72. Bear Case Breakdown Signals: A convincing break below 5308-10 could trigger a substantial dip. Watch for bounces/failed breakdowns at 5272, 5253-56, and lower major supports for potential long entries if the market rebounds. If 5308-10 fails, consider shorts after a bounce/failed breakdown at 5300. News: Top Stories for May 16th, 2024 📈 S&P 500 Hits All-Time High: Yesterday, the S&P 500 index reached a new all-time high, closing at 5,253 points. This reflects investor confidence and market optimism driven by favorable economic indicators and expectations of accommodative monetary policy from the Federal Reserve. 🌐 IMF and World Bank Spring Meetings: The International Monetary Fund (IMF) and the World Bank are preparing for their spring meetings amidst ongoing geopolitical tensions and economic uncertainties. These meetings will address global economic issues, including conflict impacts and strategic economic adjustments. 🏦 UN Economic Update: The United Nations will launch the mid-year update of the World Economic Situation and Prospects 2024. This update will assess global economic conditions, highlighting challenges such as high interest rates, debt difficulties, and geopolitical risks. 📊 Wall Street Analyst Revisions: Wall Street analysts are revising their forecasts for the S&P 500 due to the market's unexpected strength. This reflects the dynamic nature of market expectations and investor agility in navigating the evolving financial landscape. 🌍 Critical Minerals Demand: Global economic discussions are focusing on managing the demand for critical minerals essential for low-carbon technologies. This ties into broader sustainability goals and the economic opportunities and challenges for developing countries.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Wednesday, May 15th, 2024Trading Plan for Wednesday, May 15th, 2024 Market Sentiment: Bullish, but extremely overbought after 9 consecutive green days. Expect high volatility and the potential for a substantial rug pull triggered by the CPI data release. Key Supports Immediate Supports: 5257 (major), 5215-17 (major), 5208 (major) Major Supports: 5162 (major), 5133-36 (major), 5096-5100 (major) Key Resistances Near-term Resistance: 5272 (major), 5302 (major), 5329-32 (major) Major Resistances: 5362-64 (major), 5398-5402 (major) Trading Strategy Expect Volatility: Prioritize capital preservation during the CPI release and limit your trading activity. Long Opportunities: Look for failed breakdowns at 5257 (if not already broken) or 5215-17 as potential long entry points after a CPI sell-off. Consider the 5162 and 5133-36 zones for deeper longs, but only on quick recoveries and failed breakdowns. Short Opportunities: Due to the bullish trend and the unpredictable nature of CPI day, avoid shorting unless the market reacts very negatively to the data. Monitor potential back-tests of 5302 or 5329-32, but proceed with extreme caution. Level-to-Level Focus: The breakout from the downtrend channel has created a volatile environment. Trade the provided support and resistance levels rigorously and take profits aggressively. Bull Case Holding Support: If 5217-20 holds after the CPI dip, there's potential for continued consolidation within the 5236-5261 range, setting up for a later breakout towards 5285, 5294, and 5302+. Ultra Bull Case (Unlikely): ES would need to hold above 5257 (extremely unlikely) to continue upwards with minimal correction. Bear Case Breakdown Signals: A convincing break below 5217-20, especially if the CPI news is negative, triggers a larger dip. Monitor failed breakdowns at 5162 and 5133-36 for potential long entries. News: Top Stories for May 15th, 2024 📉 U.S. April CPI Report Released: The U.S. Bureau of Labor Statistics announced April's Consumer Price Index (CPI) figures, indicating a slight moderation in inflation with headline inflation at 3.4% and core inflation (excluding food and energy) at 3.6%. This data is crucial for understanding the Federal Reserve's future interest rate decisions (U.S. Bureau of Labor Statistics). 📊 Impact on Federal Reserve Policy: The CPI data implies a cautious approach from the Federal Reserve regarding interest rate adjustments. Despite a slight decrease in inflation, the rate remains above the Fed's 2% target, leading to market uncertainty about potential rate cuts (Federal Reserve). 🛢️ Sector-Specific Inflation: Significant contributors to the CPI increase included gasoline and shelter costs, which together accounted for over 70% of the monthly rise. Gasoline prices increased by 2.8% in April due to seasonal factors and changes in refinery practices (USA Today). 📈 Global Inflation Trends: The International Monetary Fund projects a global inflation rate decline to 5.8% for 2024, down from 6.8% in 2023. This trend is attributed to tighter monetary policies and a drop in energy prices, though regional variations persist, with hyperinflation in Venezuela and lower rates in developed economies (IMF). 🌐 Market and Trade Impact: High inflation rates can increase export prices, making goods less competitive globally, while countries with lower inflation may see more stable consumer prices and better trade balances. Geopolitical tensions and supply chain disruptions continue to influence these dynamics (UNCTAD).
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Tuesday, May 14th, 2024Trading Plan for Tuesday, May 14th, 2024 Market Sentiment: Bullish, but cautious given the 8 consecutive green days. The risk of a sudden pullback increases as the market becomes more overbought. Key Supports Immediate Supports: 5235 (major), 5221-17 (major), 5210 (major) Major Supports: 5192 (major), 5174-76 (major), 5144-47 (major) Key Resistances Near-term Resistance: 5246 (major), 5262 (major), 5272 (major) Major Resistances: 5302 (major), 5327-29 (major), 5400-05 (major) Trading Strategy Chop Zone Management: The 5235-5262 zone is a chop area, making it difficult to trade with high conviction. Avoid overtrading and focus on level-to-level scalping for small gains. Long Opportunities: Look for failed breakdowns at 5235 or 5210 for long entries. Prioritize reactions at these levels, ideally with quick recoveries. In the event of a deeper dip, consider knife-catches at 5192, 5174-76. Short Opportunities: As always, avoid shorting green candles and breaking trends. For those inclined to counter-trend shorting, consider 5272 or 5302 as potential levels, but proceed with extreme caution. Bull Case Uptrend Continuation: As long as 5235 holds (or any breakdown is quickly recovered), the bullish trend remains intact. Focus on a potential base building within the 5235-5262 range, followed by an upside breakout targeting 5272, 5290, and ultimately 5302. Ultra Bull Case: No dip below 5235, with continued basing above it. Reclaiming 5245 could be a signal to add exposure, but only with acceptance and no break above 5262. Bear Case Breakdown Signals: A convincing break below 5235 would trigger a potential correction. Monitor bounces/failed breakdowns at 5231, 5221-17, and 5210 for short entry opportunities, but prioritize a more significant level like 5192 for confirmation and to avoid traps. News: Top Stories for May 14th, 2024 China's Strategic Bond Sale: China initiates a substantial bond sale, aiming for $140 billion to combat its property crisis and stimulate economic growth through infrastructure projects. Russia's Economic Resilience: Despite Western sanctions, Russia's economy shows unexpected strength, with GDP projected to outpace the U.S. This resilience is attributed to increased non-oil revenues and strategic fiscal management. Indonesia's Nickel Boom: Western car manufacturers are flocking to Indonesia for its nickel resources, crucial for electric vehicle batteries, highlighting Indonesia's growing importance in the global EV supply chain. Meme Stock Mania Returns: The meme stock phenomenon resurges, with GameStop and AMC Entertainment experiencing significant price volatility following social media activity by influential traders. Global Economic Concerns: Leaders from Serbia, North Macedonia, and Georgia express apprehensions about the requirements for joining international economic communities, potentially impacting regional economic policies. China's Bond Sale and Global Implications: China's upcoming bond sale aims to bolster its economy and could influence global interest rates, foreign exchange markets, and international bond market dynamics. Meme Stock Resurgence and Market Volatility: The return of "Roaring Kitty" to social media sparks a renewed frenzy in meme stocks, leading to dramatic price swings in GameStop, AMC, and BlackBerry.
CME_MINI:ESM2024
by spytradingpro
Trading Plan for Monday, May 13th, 2024Trading Plan for Monday, May 13th, 2024 Market Sentiment: Bullish, but extremely overbought and due for a pullback. Traders are advised to exercise extreme caution and prioritize protecting gains over chasing further upside. Key Supports Immediate Supports: 5236 (major), 5225, 5213 (major) Major Supports: 5202-04 (major), 5186 (major), 5155 (major), 5112-15 (major) Key Resistances Near-term Resistance: 5246 (major), 5261 (major), 5272 (major), 5303 (major) Major Resistances: 5329 (major), 5354 (major), 5398-5400 (major) Trading Strategy Pullback Anticipation: Expect a pullback after 7 consecutive green days. Be prepared for a sudden reversal and adjust your strategy accordingly. Long Opportunities: Prioritize failed breakdowns at 5236, then 5213 for long entries. Look for bounces and reclaims, especially if price dips below 5209. Consider deeper longs at major supports (5186, 5155) only if the market shows substantial weakness. Short Opportunities: While avoiding shorting green candles and breaking trends is advised, monitor back-tests of 5272 and 5303 for potential short entries. Proceed with extreme caution and be prepared for sharp reversals. Consolidation Zone: Focus on the 5236-5261 range as a potential consolidation zone. Monitor the price action closely within this range for clues about the next directional move. Bull Case Holding Support: If 5236 holds, continued consolidation within the 5236-5261 range is likely. This would suggest a pause before a potential breakout toward 5272, 5285-88, and ultimately 5303. Ultra Bull Case (Unlikely): ES would need to hold above 5236 and continue building a base overnight for the most bullish scenario. This could trigger a move higher without a significant dip. Bear Case Breakdown Signals: A convincing break below 5236 triggers a dip, targeting 5213 initially, with potential to extend to the 5186-5115 zone. Monitor bounces/failed breakdowns at these levels for potential short entries. News: Top Stories for May 13th, 2024 1. Corporate Earnings Surge Details: A notable rise in Q1 2024 earnings has been reported among S&P 500 companies, with a majority exceeding analysts' expectations. Impact: This upsurge signals a strong corporate sector potentially boosting market confidence and influencing stock prices. 2. Central Bank Stances on Interest Rates Context: With persistent inflation, central banks, including the Federal Reserve, are cautiously maintaining current interest rates. Implications: This strategy aims to control inflation without disrupting economic stability, reflecting a delicate balance in monetary policy. 3. IMF's Global Growth Forecast Forecast: The IMF projects a global growth rate of 3% for 2024, with potential long-term economic challenges. Significance: This modest growth underscores global economic sluggishness, necessitating strategic economic measures. 4. Geopolitical Tensions and Economic Impact Developments: Tensions in the Middle East are intensifying, affecting global markets and commodity prices. Consequences: These geopolitical issues are critical for financial stability, influencing both market volatility and investor sentiment. 5. Key Economic Indicators Release Upcoming Data: Major economic indicators like consumer price indexes and retail sales are scheduled for release this week. Relevance: These indicators are crucial for assessing the economic health of major economies and will influence forthcoming monetary policy decisions.
CME_MINI:ESM2024
by spytradingpro
Trading Plan for Friday, May 10th, 2024Trading Plan for Friday, May 10th, 2024 Market Sentiment: Bullish, but with a cautious undertone after a significant multi-day rally. Expect potential profit-taking and a reduction in aggressive buying activity. A period of consolidation is highly likely. Key Supports Immediate Supports: 5235-37, 5228, 5209 (major), 5203 (major) Major Supports: 5177-79 (major), 5155 (major), 5120 (major) Key Resistances Near-term Resistance: 5246 (major), 5268-72 (major) Major Resistances: 5302 (major), 5326-28 (major), 5395 (major) Trading Strategy Capital Preservation Focus: After a strong multi-day rally, prioritize protecting your gains. Adopt a defensive posture and consider reducing position sizes. Limited Long Opportunities: Due to the overbought conditions and the potential for a pullback, look for very selective long entries if at all. Focus on failed breakdowns at 5228 or 5203 for potential long entries. In the event of a deeper pullback, consider buying dips at major support levels, with 5209 or failed breakdowns at 5203 offering potential opportunities. Short Opportunities: While your personal trading rules discourage shorting green candles and breaking trends, monitor back-tests of 5246 and 5268-72 for potential short entries with tight stop losses. Proceed with extreme caution. Focus on Levels and Patience: Trade the provided support and resistance levels with strict discipline. Let price action develop, be patient, avoid emotional trading, and prioritize minimizing risk exposure. Bull Case Holding Support: Defending the 5203-5209 zone remains crucial for sustaining bullish momentum. Holding above this level would indicate a continuation of the breakout, targeting 5246, then 5268-72. Ultra Bullish Scenario (Unlikely): A parabolic move overnight pushing through 5246 would be required for a continuation without a proper dip. Monitor overnight basing above 5228 and below 5246 for clues about strength. Bear Case Breakdown Signals: A convincing break below 5203 would signal a potential pullback and retest of lower supports. Monitor bounces/failed breakdowns at 5228 or 5203 for potential short entries. News: Top Stories for May 10th, 2024 Global Stock Market Trends: U.S. Market Performance: Modest gains seen in U.S. stock indices, reflecting optimism despite mixed April performance. European and Asian Market Dynamics: Positive movements noted in European and Asian markets, driven by solid economic data and central bank easing. Impact of Economic Indicators: U.S. labor market easing influences market expectations regarding potential rate cuts. Sector-Specific Movements: Technology sector experiences volatility, while energy sector sees potential stabilization. Investor Sentiment and Future Outlook: Cautious optimism prevails amid anticipation of rate cuts and easing inflation, alongside geopolitical risks and trade negotiations. Assessment of Inflation and Interest Rate Policies: Global Inflation Trends: Persistent inflationary pressures challenge central banks' efforts to meet targets. Central Banks' Stance: Cautious approach towards interest rate adjustments observed globally. Economic Implications: High interest rates may slow down consumer spending and business investments. Inflation Expectations and Future Policies: Central banks closely monitor inflation expectations to inform future policy decisions. Impact on Global Economic Stability: Corporate Financial Developments and Deals: Companies announce financial results and engage in strategic transactions, reflecting market dynamics and regulatory changes. Forward-Looking Corporate Statements: Companies adjust strategies to navigate current market conditions and regulatory environments effectively.
CME_MINI:ESM2024
by spytradingpro
Trading Plan for Thursday, May 9th, 2024Trading Plan for Thursday, May 9th, 2024 Market Sentiment: Bullish, but with increasing uncertainty as the market enters a consolidation phase. Expect choppy trading within a defined range. Prioritize patience and focus on level-to-level scalping for small gains. Key Supports Immediate Supports: 5203, 5194 (major) Major Supports: 5177 (major), 5155 (major), 5131-36 (major) Key Resistances Near-term Resistance: 5213 (major), 5219 (major), 5229-33 (major) Major Resistances: 5246 (major), 5263-66 (major) Trading Strategy Consolidation Mode: Recognize that the market has shifted from a strong trending environment to a choppy consolidation phase. Adapt your trading strategy accordingly, focusing on small gains and disciplined risk management. Long Opportunities: Focus on failed breakdowns at 5203 or 5194 for long entries. In the event of a deeper pullback, consider buying the retests of the 5177, 5155, and 5131-36 breakout zone or knife-catches for quick scalps. Short Opportunities: Due to the bullish trend and the inherent risk of shorting against strength in a bull market, avoid aggressive short positions. Monitor back-tests of 5229-33 or 5263-66 for potential short entries, targeting level-to-level profits. Focus on Levels and Patience: Trade the provided support and resistance levels with strict discipline. Let price action develop, be patient, and avoid emotional trading. Overtrading within a tight range can lead to losses. Bull Case Holding Support: Defending the 5194 level and ideally the 5131-36 breakout zone remains crucial for maintaining bullish momentum. Holding above the lower range boundary would indicate a healthy consolidation and base for potential continuation higher. Base Building and Rebound: A period of consolidation within the 5194-5219 range followed by a rebound off the lower zone would set the stage for further advances, targeting 5229-33, 5246, then 5263-66. Bear Case Breakdown Signals: A convincing break below 5194, more significantly below 5177 would signal a deeper pullback and a potential retest of the 5131-36 breakout zone. Monitor bounces/failed breakdowns at these levels for potential short entries. News: Top Stories for May 9th, 2024 Global Stock Market Trends: Varied Performance: Mixed responses observed in Asian markets; Wall Street experiences second consecutive day of lull. Influence of Geopolitical Events: Ongoing geopolitical tensions impact investor confidence and market stability. Recovery Post-COVID-19: Economic recovery contributes to increased positive correlation among global stock markets. Technological Advancements and Stock Market Analysis: Complex Network Analysis: Studies highlight increased interconnectedness among global stock markets. Geopolitical Impact: Geopolitical unrest continues to pose risks, affecting capital flows and commodity markets. Future Outlook: Predicted trends focus on sustained recovery and nuanced understanding of market interdependencies. Overview of International Trade and Currency Fluctuations: Currency Fluctuation Dynamics: Currency values influence international trade competitiveness and economic policies. Role of Economic Indicators: Inflation rates, interest rates, and GDP growth significantly affect currency valuation. Risk Management Strategies: Businesses employ hedging strategies to mitigate currency fluctuation risks. Government Policies: Monetary and fiscal policies play crucial roles in stabilizing currency values. Impact of Central Banks' Policies on Global Economy: Economic Stabilization: Central banks manipulate monetary policies to address economic fluctuations and crises. Influence on Inflation and Interest Rates: Adjustments in interest rates affect global economic conditions. Effects on Financial Markets: Central bank policies directly impact asset prices and investment flows. Response to Economic Shocks: Central banks provide monetary lifelines during economic crises to stabilize financial systems.
CME_MINI:ESM2024Long
by spytradingpro
#ES_F Day Trading Prep Week 05.05 - 05.10Last Week : Last week we opened up around the Mean of 5182.50 - 5115.75 Value. Consolidated around the Mean, built up supply and eventually started moving for the Spike Base, lower Edge and lower ranges VAH to fill those areas out but every time we hit VAH we found a bid there which would hold us over and that would bring in new buying to keep pushing us back towards 5125 - 15.75 VAL. We got good trading back and forth between the Bid and Supply but eventually end of the week once market found no acceptance in lower Value and couldn't stay under the Edge low shorts had to cover driving the price back into previous Value for the Supply which was at and above the Mean. This Week : Few things to note this week, with how strong the Pre Market push was on Friday which drove us over 5125 - 15.75 VAL right into next Key Resistance of 5159.25 - 54.25 we were not able to right away get over or hold over this area in RTH, the end of day push through that area was also weak and left 1 single above us and that is not counting the other sets of singles which are higher so this tells us there is still Supply around this VAH and above Value areas. Of course this doesn't mean we will just sell off from this area but it is something to note if we think market will just continue higher through VAH towards above Edge as this push over 5159.25 - 54.25 can fail and come back in once the distribution over it is finished and we run out of buying. Going into this week we are now in 5204.25 - 5154.25 Range and from here we watch if we find acceptance here and get more buying which will push us to and through VAH for a chance to head for above Edge ? Do we start building a base here under VAH cleaning out Supply above it and then take it up for distribution over it ? Or do we run out of buying and come back in under 5159.25 - 54.25 to start back filling this move towards VAL to fill out that push from Friday with Supply. Will more size longs step in here to keep buying to push the market higher or will size be waiting to see how this area plays out as we know there could be size sellers here and longs like to buy under Value or after seeing areas get taken out and start holding. To me Weekly TF had a weak close to end the week, Daily closed at the top of Daily Balance with a push just over it and Daily TF is still currently in a downtrend so to speak if we look at VWAP and smaller MA. This kind of hints on not finding acceptance here just yet or least if we do then above Edge still should keep us under the 5200s areas for now. We don't have much data or market moving events this week which hints on even if we don't find acceptance up here and will start a move back down it might not be as fast and strong as we have seen last weeks, it might be more of a leak/hold action back towards the VAL. Levels to Watch : Current Intraday Range 5204.25 - 5154.25 Key Resistance 5204.25 - 5199.75 Means 5188.25 - 84.50 // 5174.25 - 70.50 This is VAH and we would need to start holding between those to find acceptance in this range. 5159.25 - 54.25 Will this now be our Key Support or we find our way back under ? If Accept back under 5159.25 - 54.25 we watch for move back towards VAL Means 5144 - 40.25 // 5129 - 25 Key Support 5112.50 - 07.50 for any continuation under If hold/accept over VAH would need to get through and accept over 5204.25 - 07.50 Edge bottom for any higher prices towards Edge top.
CME_MINI:ES1!
by HollowMn
Trading Plan for Wednesday, May 8th, 2024Trading Plan for Wednesday, May 8th, 2024 Market Sentiment: Bullish, but increasingly cautious in the overbought market. Consolidation is ongoing, and a deeper pullback is likely before further advances. Maintain disciplined risk management. Key Supports Immediate Supports: 5209 (major), 5202, 5188-91 (major) Major Supports: 5143-36 (major), 5067-69 (major), Key Resistances Near-term Resistance: 5224 (major), 5246 (major), 5265-70 (major) Major Resistances: 5302-06 (major), 5328-30 (major) Trading Strategy Post-Breakout Dip Anticipated: The market is overdue for a healthy pullback after the recent strong surge. Long Opportunities: Focus on failed breakdowns at 5202 or 5188-91 for long entries. In the event of a deeper pullback, consider buying the retest of the breakout zone at 5143-36 or knife-catches at 5168 for quick scalps. Short Opportunities: Look for back-tests of 5246 or 5265-70 for short entries, targeting level-to-level profits. Proceed with extreme caution and be ready to cut losses quickly. Remember, shorting against strength in a bull market is inherently risky. Focus on Levels and Patience: Trade the provided support and resistance levels rigorously. Let price action develop, be patient, and avoid emotional trading. Bull Case Holding Support: Defending the 5143-36 breakout zone remains crucial for maintaining bullish momentum. Holding above this level would indicate a healthy dip and a potential continuation higher. Rebase and Bounce: A period of consolidation around 5190-5224 and a rebound off these supports would set the stage for further advances, potentially targeting 5246, then 5265-70. Bear Case Breakdown Signals: A convincing break below 5188-91 would signal a potential pullback and could lead to a retest of the 5143-36 breakout zone. Monitor bounces/failed breakdowns at these levels for potential short entries. News: Top Stories for May 8th, 2024 Global Stock Market Trends: Varied Performance: Asian markets show resilience despite Nikkei 225 drop, influenced by mixed corporate news. U.S. Economic Indicators: U.S. jobs report and Fed's interest rate decisions continue to influence global markets positively. Geopolitical Tensions: Market responses to geopolitical unrest remain muted, highlighting diversified global economies' resilience. Company Earnings and Forecasts: Earnings Performance: Uber reports Q1 loss; Thomson Reuters shows strong revenue growth. Financial Forecasts: Taboola expects significant YoY growth; Thomson Reuters adjusts full-year outlook. Sector-Specific Insights: Technology and financial services sectors demonstrate strong growth potential despite operational losses. Analysts' Perspectives: Setting Market Expectations: Analysts forecast earnings based on economic indicators, trends, and company guidance. Implications for Investors: Earnings reports influence market sentiment and investor confidence, impacting stock prices. Impact on Currency Values: Political Events: Geopolitical tensions historically impact currency fluctuations, yet recent responses remain subdued, reflecting diversified global markets' resilience.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Tuesday, May 7th, 2024Trading Plan for Tuesday, May 7th, 2024 Market Sentiment: Bullish, but increasingly cautious following a strong breakout. The RSI is deeply overbought, increasing the risk of sudden pullbacks. Proceed with heightened awareness of volatility. Key Supports Immediate Supports: 5186-88 (major), 5163 (major) Major Supports: 5144-46 (major), 5060-65 (major) Key Resistances Near-term Resistance: 5214-5218 (major), 5246-50 (major) Major Resistances: 5272 (major), 5302-04 (major) Trading Strategy Post-Breakout Cautiousness: The market is in overbought territory following today's strong surge. Prioritize capital preservation and maintain disciplined risk management. Avoid chasing longs or aggressively shorting against strength. Long Opportunities: Due to the overbought conditions, focus on failed breakdowns at 5186-88 or ideally 5144-46 for long entries. In the event of a deeper dip, consider knife-catches at 5163 for quick scalps. Short Opportunities: Look for back-tests of 5214-5218, 5246-50, or potentially 5272 for short entries, targeting level-to-level profits. Proceed with extreme caution and be ready to cut losses quickly. Focus on Levels and Patience: Trade the provided support and resistance levels rigorously. Let price action develop, be patient, and avoid emotional trading. Bull Case Holding Support: Defending the 5144-46 breakout zone remains crucial for bulls. Holding above this level would indicate a healthy dip and a potential continuation higher. Consolidation and Bounce: A period of consolidation and a rebound off 5186-88 or 5144-46 would set the stage for further advances, potentially targeting 5214-18, then 5246-50. Bear Case Breakdown Signals: A convincing break below 5186-88 would signal a potential pullback and could lead to a retest of the 5144-46 breakout zone. A breach of 5144-46 would be a more significant bearish development. Monitor bounces/failed breakdowns at these levels for potential short entries. News: Top Stories for May 7th, 2024 Federal Reserve's Influence: Interest Rate Decision: Fed keeps rates steady at 5.25% to 5.5% for the sixth consecutive meeting, reflecting concerns about inflation and labor market conditions. April 2024 Jobs Report: Economy adds 175,000 jobs in April, below expectations, potentially alleviating inflation pressures. Commercial Real Estate Midyear Outlook: Despite high-interest rates, commercial real estate sectors show resilience, suggesting less sensitivity to monetary policy. Global Economic Growth Forecasts: World Bank and OECD predict below-average global GDP growth for 2024, influencing market sentiments and central bank policies. Impact on Market Dynamics: Bond and Equity Markets: Higher rates increase Treasury yields, shifting investor preference towards bonds and contributing to equity market volatility. Housing Market Effects: Housing prices respond swiftly to policy adjustments, driven by changes in mortgage rates, impacting affordability and market health. Influence on International Trade: Stronger dollar affects trade balance by making exports costlier and imports cheaper, potentially moderating domestic inflation. Future Outlook: Market sentiment remains cautious, with analysts not expecting rate cuts until at least 2025 if inflation persists, influencing investment and consumer behaviors.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Monday, May 6th, 2024Trading Plan for Monday, May 6th, 2024 Market Sentiment: Uncertain, with bulls seeking further confirmation after exceeding a major resistance level on Friday. Consolidation and complex, level-to-level price action are likely. Key Supports Immediate Supports: 5145-50 (major), 5136, 5116-13 (major) Major Supports: 5082-77 (major), 5067 (major), 5060 (major) Key Resistances Near-term Resistance: 5176-86 (major), 5213 (major) Major Resistances: 5245 (major), 5272 (major), 5302-05 (major) Trading Strategy Consolidation Anticipated: Expect a period of price discovery and complex, potentially choppy price action following Friday's strong breakout. Prioritize level-to-level trading. Long Opportunities: Due to the heightened risk, avoid chasing direct bids at support. Look for failed breakdowns of 5136 (ideally with a reclaim) or 5116 for potential long entries. In the event of a deeper dip, consider knife-catches at major supports (5082, 5067). Short Opportunities: Look for back-tests of 5213, or potentially 5176-86 (riskier) for short entries. Proceed with caution and be quick to take profits. Level-to-Level Focus: The breakout from the downtrend channel increases volatility and requires a disciplined approach. Trade the provided support and resistance levels rigorously. Bull Case Holding Support: Defending the 5113-16 breakout zone remains crucial, with 5060 as the broader support floor. Reclaiming Resistances: Bulls need to push above the 5150 and potentially establish a base around that level for further confirmation. Breakouts above 5176-86, and ultimately 5213 would provide further bullish signals. Bear Case Breakdown Signals: A convincing break below 5113-16 would signal a failure of Friday's breakout, inviting a deeper retracement. Watch for bounces/failed breakdowns around 5136 and 5116 for potential short entries. A breach of 5060 would be a significant bearish development. News: Top Stories for May 6th, 2024 Impact on Stock Markets: Immediate Market Reactions: Markets react swiftly to news events, with geopolitical tensions often inducing volatility. Economic Indicators Influence: Market sentiment is shaped by economic indicators like employment rates and inflation reports. Central Bank Announcements: Decisions by major central banks, such as interest rate changes, heavily influence global markets. Corporate Earnings Reports: Quarterly earnings reports impact stock prices and market indices. Geopolitical Events: Events like elections and conflicts can increase market uncertainty and volatility globally. Economic Policy Changes: Shifts in Industrial Policies: Increase in protectionist measures raises concerns about global growth. US and EU Policies on China: Alignment in economic security policies aims to reduce dependency on Chinese goods. Global Trade System Reconfiguration: WTO conference could reshape trade policies and impact global GDP. Regulatory Changes in Digital Trade: US withdrawal from digital trade agreements affects multinational corporations and data management. Environmental Regulations: International trade agreements mandate sustainability measures, transforming global operations.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Friday, May 3rd, 2024Trading Plan for Friday, May 3rd, 2024 Market Sentiment: Bulls maintaining a tentative lead ahead of multiple high-impact market events (Apple Earnings and Jobs Report). Expect extreme volatility and plan accordingly. Key Supports Immediate Supports: 5068 (major), 5054 (major trendline - note this level rises daily) Major Supports: 5028 (major), 5001 (major) Key Resistances Near-term Resistance: 5081 (major), 5102 (major), 5116 (major), 5136 (major) Major Resistances: 5155-58 (major), 5191 (major), 5208 (major) Trading Strategy Earnings and Jobs Volatility: Be prepared for unpredictable, potentially violent price swings triggered by the Apple earnings release (4:30 PM EST) and the jobs report (8:30 AM EST). Prioritize reacting to price action over anticipating. Capital Preservation: Adopt a cautious approach and consider reducing position sizes or even sitting out the immediate volatility. Focus on protecting your gains from today's squeeze. Long Opportunities: Due to the heightened risk, avoid direct bids at support. Prioritize failed breakdowns with flushes and reclaims for safer long entries. In the event of a deep flush, consider knife-catches at major supports (5028, 5001). Short Opportunities: Look for back-tests of 5116 and 5136 for shorts, but only if markets exhibit a strong negative reaction to earnings or positive jobs data. Proceed with extreme caution. Focus on Levels: Use the provided support and resistance levels to guide your decisions, regardless of the volatility. Pay close attention to failed breakdowns and setups, as they will be the most reliable in this environment. Bull Case Holding Support: Defending the 5054-50 support zone remains crucial. Reclaiming Resistances: Bulls need to push above the 5081 resistance zone after any potential sell-off on events, working back towards 5116, then 5136 for further confirmation and a potential sustained breakout. Bear Case Breakdown Signals: A convincing break below 5054-50 initiates the downside move. Watch for bounces/failed breakdowns for potential short entries. Be mindful of whipsaws and traps around major events. News: Top Stories for May 3rd, 2024 Impact of Monetary Policies: U.S. Monetary Policy and Global Markets: Contractionary policy affects global financial conditions through various channels. Responses to U.S. Policy Shifts: Tightening policy induces global deleveraging and affects asset prices and credit flows. Emerging Markets' Sensitivity: EMs experience volatility and capital outflows due to U.S. policy changes. Transmission Mechanisms: Policy changes influence dollar-denominated assets, global credit conditions, and bank behavior. Long-Term Implications: Global Trade Outlook: Modest rebound in 2024 challenged by interest rates, demand fluctuations, and geopolitical tensions. Manufacturing Sector Performance: Continued uncertainty with challenges like labor shortages and supply chain disruptions. Advances in Digital Manufacturing: Adoption of digital twins and smart tech enhances operational efficiencies. Geopolitical Impact on Trade: Persistent tensions disrupt global trade, highlighting vulnerability of supply chains to political instability.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Thursday, May 2nd, 2024Trading Plan for Thursday, May 2nd, 2024 Market Sentiment: Uncertain, with bulls holding a precarious position at a critical support level. Key Supports Immediate Supports: 5048-50 (major - note that this trendline rises daily), 5032, 5028 (major) Major Supports: 5010 (major), 4968 (major), 4938-42 (major) Key Resistances Near-term Resistance: 5077-82 (major), 5102 (major), 5126 (major), 5136 (major) Major Resistances: 5155 (major), 5197-5202 (major), 5246-50 (major) Trading Strategy Critical Support Test: Vigilantly monitor the critical 5048-50 support zone for signs of breakdown or sustained defense. Long Opportunities: Due to heightened volatility, avoid direct bids at support. Instead, prioritize failed breakdowns with flushes and reclaims for safer long entries, potentially around 5032 or 5028. In the event of a deep flush, consider knife-catches at major supports (5010, 4968, 4938-42). Short Opportunities: Look for back-tests of 5126 and 5136 for shorts, but only if a strong bearish reaction to FOMC is evident. Proceed with caution. Risk Management: Maintain disciplined risk management and tighter stops in this volatile period. Bull Case Holding Support: Defending the 5048-50 support zone is crucial. A failed breakdown with a quick reclaim above 5032-28 could trigger a move higher. Reclaiming Resistances: Bulls need to push back to 5077-82, with a potential retest of that resistance, then onward to the 5126-36 zone for further confirmation and potential breakout. Bear Case Breakdown Signals: A convincing break below 5048-50 followed by a deeper dip through 5028 initiates the downside move. Watch for bounces/failed breakdowns for potential short entries. News: Top Stories for May 2nd, 2024 Analysis of Stock Market Trends: U.S. Market Performance: Mixed responses post-Fed's rate decision, with slight Dow increase and S&P, Nasdaq declines. Interest Rates and Inflation Concerns: Persistent inflation shapes Fed policies, influencing market dynamics. Sector-Specific Trends: Tech sector drives market, but faces valuation challenges and regulatory scrutiny. Global Market Influences: European markets resilient; contrasting approaches to interest rates and inflation with the U.S. Investment Strategies: Federal Funds Rate Stability: Fed maintains high rate amid inflation concerns, impacting market expectations. Inflation Trends and Policy: Slow decrease in inflation complicates rate cuts, influencing investment decisions. Global Impact: Fed's policies affect global markets, especially in emerging economies and those tied to U.S. standards. Long-term Considerations: Geopolitical Tensions: Conflicts threaten global supplies; Middle East escalation could disrupt oil production. Economic Slowdown: China's slowdown poses risks globally, impacting markets and economic stability. Inflation and Interest Rates: Central banks balance inflation control without hindering growth, posing risks. Technological Transformations: Rapid tech changes create opportunities and risks, transforming labor markets. Environmental Risks: Growing environmental concerns pose economic consequences, impacting industries.
CME_MINI:ESM2024Long
by spytradingpro
#ES_F Day Trading Prep Week 4.28 - 5.03Last Week : Last week Globex opened inside the Value of 5086 - 4925 Range and right away found buying that started pushing us towards VAH. RTH gave us a push out of Value and holds above brought in more buyers to give us pushes to the Edge and attempts at Previous Ranges VAL/Value area but that move was sold back down towards the Edge and back under 5086 brought in the weakness needed to make a push back inside lower range towards VAH which looked promising for continuation since we were under Supply and under Settlement ranges but instead we failed to accept in Value pushed back to the Edge and end of day Spike pushed us over VAL where we spent Friday filling out that area of singles over VAL in a tighter distribution Range after failing to get back under 5112.05 - 07.50. This Week : Going into this week we have retail month end to finish up the month, we have new month starting and lots of data dropping this week as well. Our question this week is will we find acceptance back in this 5227 - 5066 Ranges Value ? are there actually bigger buyers in that Spike base to keep us up and start balancing here and continue filling out this VAL / Mean / VAH area ? Area over 5144 still has Single Prints above which are Supply and Volume trapped above them. Or maybe more selling will come in to give moves back under VAL to fill out that Spike Base to see if there are still buyers in that Edge or if we will start working our way under it towards the Value where we were able to transact through the whole thing and put in Time and Volume ? Friday we tried to make a push over 5144 - 40.25 which was 5159 - 5107 Intrarange Resistance but failed the few attempts and stayed withing the ranges Mean of 5144 - 5125. If we are to accept in this range and 5112.50 - 07.50 will keep acting as support then we can look to keep trading this current Intraday range of 5159 - 5107 and IF we continue holding over 5129 - 25 we could eventually get enough buying to try and fill out those single prints up to the Key Resistance. We would need to get through 5159.25 - 54.25 to see any higher prices with moves towards above VAH. If the buying here is not strong and we just continue building up Supply around this current mean and can't fill the single prints up to the Key Resistance above or fill but fail to accept over then we can look for a return back towards the VAL and see a test of that 5112.50 - 07.50 area, if buying at that Spike base doesn't hold then we can see a move back towards the Edge to fill that Spike Base out and test the Edge again to see if there is still buying or if we will get back under the Edge and head for Previous Value. With lots of news and data it could be a tricky week, Friday ended very slow after volatile action, will the slow theme continue this week ? If so need to be very patient letting things properly set up and show Failures or strength at levels before trying to catch the moves. Market is trying to find a range to start balancing in, I feel like 5086 - 4925 is the HTF Range market wants to be in and our destination is still lower but how fast or slow it will get moving there is the question and for now we are over the Edge which is telling us otherwise while we are inside 5182 - 15 Value... but just something to keep in mind if we don't find acceptance needed in here. Levels to Watch : Current Range 5159.25 - 5107.50 Key Levels for Continuation out 5159.25 - 54.25 // 5112.50 - 07.50 Means 5144 - 40.25 // 5129 - 25 If Accept Below Targets Spike Base and move back to Edge Means 5095.50 - 92.50 // 5081 - 77.75 Key Area 5065.75 - 60.75 If holds current range and accepts over Key Resistance, above range is 5204.25 - 5154.25 Means 5188.25 - 84.50 // 5174.25 - 70.50 Key Resistance 5204.25 - 5199.75 IF Find ourself back under 5086 - 66 Edge watch out for continuation towards VAH / Mean and VAL of 5086 - 4925 Range.
CME_MINI:ES1!
by HollowMn
Trading Plan for Wednesday, May 1st, 2024Trading Plan for Wednesday, May 1st, 2024 Market Sentiment: Uncertain, with the potential for sharp swings amplified by the FOMC announcement. Increased caution and focus on capital preservation are paramount. Key Supports Major Supports: 5060 (major), 5043-47 (major), 5030-32 (major), 5000 (major) Additional Supports: 4976 (major), 4938-41 (major) Key Resistances Near-term Resistance: 5066, 5077-82 (major), 5102 (major), 5144 (major) Major Resistances: 5171 (major), 5200 (major), 5246-50 (major) Trading Strategy FOMC Volatility: Expect unpredictable price swings driven by reactions to the FOMC interest rate decision and related news. Prioritize Capital Preservation: Focus on protecting your account rather than chasing aggressive moves. Adapt position sizing and risk management strategies accordingly. Long Opportunities: Due to FOMC, direct bids are high risk. Focus on failed breakdowns for better risk/reward. Potentially long at major support levels after flushes and reclaims (5043-47, 5030-32). Short Opportunities: Due to FOMC, direct shorts are also high risk. Watch for strong bounces and failed breakdowns. Consider shorts at key resistance levels only if the reaction to FOMC is definitively bearish. Proceed with extreme caution. Level-to-Level Trading: Employ level-to-level scalping techniques and profit-taking, navigating this volatile environment with tighter stops. Bull Case Holding Support: Defending the 5043-47 support zone is crucial for bulls, with 5030-32 as the absolute minimum. Reclaiming resistances like 5066 could indicate buyer strength. Bear Case Breakdown Signals: A convincing break below 5030, intensified by negative FOMC news, signals a downside move. Watch for bounces/failed breakdowns for potential shorts. News: Top Stories for May 1st, 2024 Global Economic Outlook Mature economies are stabilizing with a slight growth uptick projected for 2024 and 2025. Emerging economies maintain stability with growth projections at 4.3% for both 2024 and 2025. Regional Trends Asia, including China, anticipates a slowdown, while Latin America expects gradual growth increases. Inflation and Monetary Policies Global inflation is expected to decrease, reflecting central bank rate hikes for price stability and growth support. Geopolitical Impacts Populist policies and recent elections in the US and EU pose financial policy and market stability challenges. Transition to a New Monetary Order impacts interest rates, asset values, and lending environments globally. EU regulatory changes affect financial markets and trading regulations, emphasizing compliance. Digital Transformation Focus on digital assets and CBDCs outside the US signals shifts in financial transactions and regulations. Blockchain technology enhances financial security and transparency, notably in DeFi platforms. AI integration reshapes financial services, optimizing operations and decision-making processes. Digital and open banking experiences exponential growth, fostering fintech innovations and collaborations. RegTech solutions powered by AI help firms manage regulatory obligations efficiently across jurisdictions.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Tuesday, April 30th, 2024Trading Plan for Tuesday, April 30th, 2024 Market Sentiment: Bullish, within a consolidation period likely followed by a breakout. Exercise caution and patience with trades. Key Supports Immediate Supports: 5127-30, 5121 (major), 5108 Major Supports: 5083 (major), 5067 (major), 5039 (major) Key Resistances Near-term Resistance: 5136, 5150-55 (major), 5176 (major), 5191 (major) Major Resistances: 5205-5208 (major), 5230, 5246 (major), 5270-75 (major) Trading Strategy Consolidation Breakout: Anticipate a breakout from the current 5120-5155 consolidation range. Plan accordingly for both bull and bear breakout scenarios. Long Opportunities: Prioritize failed breakdowns at 5121 for potential long entries. Focus on bids within the current range and knife-catches on major supports if deep flushes occur (5067, 5039). Short Opportunities: Due to the potential for a strong breakout, approach shorts cautiously. The 5176 and 5191 levels offer shorting opportunities, but with increased risk in the bullish environment. Utilize level-to-level profit-taking. Risk Management: Implement disciplined risk management in this potentially volatile period. Bull Case Holding Support: Defending the 5120 support within the current consolidation range is crucial for bulls. Breakout and Retest: Look for an upside breakout from the 5155 resistance area, followed by a successful retest for further confirmation. Targeting Higher Levels: A breakout could trigger an upward move, focusing on targets at 5176, potentially extending to 5191. Bear Case Breakdown Signals: A convincing break below 5121 signals a downward move. Watch for a bounce/failed breakdown as an entry point for a short position, with level-to-level profit-taking. News: Top Stories for April 30th, 2024 Market Dynamics and Corporate Earnings Global Activity: High activity with 1,300 company earnings reports expected; Federal Reserve's FOMC meeting closely watched for rate decision insights. Sector Highlights: Tech sector leads with major gains by Nvidia and Super Micro; Financials gain on rate cut hopes; Real Estate and Energy sectors lag. Economic Indicators and Central Bank Decisions FOMC Meeting: Coming up on 5/1 Jobs Data: Upcoming release expected to influence Fed's future decisions, especially on inflation control. International Markets Asian Markets: Mixed responses with Japan's Nikkei up and Shanghai Composite down. European Central Bank: Anticipated to follow Fed with potential rate cuts amid inflation challenges. Analysts' Projections and Market Sentiment Future Rate Cuts: Initially expected in mid-2024, now possibly delayed due to persistent high inflation. Investor Outlook: Cautiously optimistic but prepared for potential volatility due to uncertain monetary policy outcomes.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Monday, April 29th, 2024Trading Plan for Monday, April 29th, 2024 Market Sentiment: Bullish, following a multi-day rally. However, proceed with caution as a period of price discovery and more complex action is likely after the strong movement. Key Supports Immediate Supports: 5127 (major), 5117, 5102 (major), 5089 (major), 5082 Major Supports: 5068-72 (major), 5043 (major), 5034 (major) Key Resistances Near-term Resistance: 5150 (major), 5168-5171 (major), 5185 (major) Major Resistances: 5206-5208 (major), 5230, 5245 (major) Trading Strategy Consolidation Anticipated: Expect a period of consolidation and complex price action after the recent surge. Overtrading can lead to losses. Long Opportunities: Look for failed breakdowns at 5127 or 5102 as potential long entry points. Prioritize bids within the current range for a cautious approach. Short Opportunities: Target the 5185 level (resistance of the downtrend channel) for possible short positions. Consider level-to-level profit-taking within the range. Risk Management: Maintain disciplined risk management in this potentially volatile environment. Bull Case Holding Support: Defending the 5127 or 5102 major supports is crucial for bulls to maintain control. Reclaiming Resistances: Bulls need to push above the 5150/5168-71 zones for a potential run to the next major target, 5185. Adding on Strength: In an ultra-bull case, look for bull flagging above 5127 to add exposure in anticipation of an upward move. Bear Case Breakdown Signals: A convincing break below 5102 could trigger a deeper retracement. True bear case resumes with a break below 5033. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 29th, 2024 Equity Market Overview Global Performance: S&P 500 and Dow Jones rose over 10% in Q1 2024; European and Asian indices also hit highs. Sector Trends: AI boom fuels tech sector gains; value stocks participate more in market rallies. Bond Market Dynamics Interest Rates: Delayed rate cuts by the Federal Reserve impacting bond yields. Performance: High yield bonds outperforming investment-grade due to favorable risk-return amidst volatile rates. Key Economic Indicators Inflation and Sentiment: Persistent inflation concerns; consumer sentiment improves slightly. GDP and Employment: Strong GDP growth and employment figures support bullish equity market sentiment. Market Outlook and Investor Sentiment Short-Term: Continued growth expected, but potential for increased volatility. Long-Term: Earnings growth modest in sectors like IT, significant in "Magnificent 7" companies. Federal Reserve Policy and Market Outlook Fed Stance: Maintains rates; cautious on inflation. Market Impact: S&P 500's performance influenced by rate cut expectations; market may face limited growth post-rate cuts.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Friday, April 26th, 2024Trading Plan for Friday, April 26th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control but facing the after-hours earnings event, which could bring sudden volatility. Key Supports Immediate Supports: 5067, 5058 (major), 5048 Major Supports: 5036-33 (major), 5010 (major), 4996-5000 (major), 4935-40 (major), 4904-08 (major) Key Resistances Near-term Resistance: 5080-82 (major), 5092 (major), 5108 (major), 5126-29 (major), 5145-50 (major), 5177-81 (major) Major Resistances: 5222, 5243-46 (major), 5272 (major) Trading Strategy Earnings Volatility: Be prepared for unpredictable price action and adjust your strategy in real-time. Trading the Range: Expect price to play within the broad 5036-5126 range. Exercise caution and consider bids/shorts within the range rather than chasing direction. Long Opportunities: Look for failed breakdowns at 5067 or 5058 after earnings. Focus on bids cautiously within the range, prioritizing the knife-catch protocol for deeper longs at major levels. Short Opportunities: Look for backtests of 5126-29, 5145-50, or the major 5177-81 zone if reached. Given earnings, approach shorts very cautiously. Profit-Taking: Use level-to-level profit-taking on any position taken, given the increased volatility risk. Bull Case Holding Support: Defending the current 5036-33 major support is critical. Reclaiming Resistances: Bulls need to push above the 5108 zone for a potential run to the next major target areas of 5126-29 and 5145-50. Bear Case Breakdown Signals: A convincing break below 5036 triggers the downside move. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 26th, 2024 Economic Environment March PCE inflation report and its impact on the Fed's policy decisions. Apollo Global's acquisition of US Silica and implications for the materials sector. Stock Market Updates Mixed signals from global markets amidst geopolitical tensions. Bank of Japan's interest rate policy. Global Market News Market response to various corporate earnings and announcements. Additional Market News Bond market dynamics and potential interest rate cuts. Gold's performance and investment implications. Currency market updates and the impact of the Bank of Japan's actions. Additional Market Insights and News Economic Indicators and Outlook US GDP and Economic Growth: Analysis of the latest GDP report and its implications for growth trends. Corporate Earnings Outlook: Forecasts for 2024 and sector-specific performance expectations. Inflation and Interest Rates: Understanding the relationship between inflation, Fed policy, and corporate earnings. Labor Market Dynamics: Assessing the health of the labor market and its impact on consumer spending and corporate profitability. Technological Advancements and Market Shifts Generative AI and Business Transformation: How is GenAI impacting decision-making and efficiencies in various industries. Quantum Computing and Competitive Edge: Exploring the potential of quantum computing in various sectors and its implications for competitive advantage. Sustainable Technology Initiatives: The increasing focus on green technologies and the integration of sustainability with innovation. Industry Cloud Platforms (ICPs): Examining the adoption of ICPs and their role in accelerating digital transformation. Reminder: The after-hours earnings events introduce major volatility risk. Prioritize risk management and adapt your trading strategy accordingly.
CME_MINI:ESM2024Long
by spytradingpro