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$ES_F/$SPY - Thoughts for this Week & BeyondSome thoughts on $SPY/$ES_F: The right-hand chart consists of 1month candles. I took the range of the 08 crash and extended it a few times - each box represents a full 100% extension. November 2020 gave us what may considered to be a "blow-off top" - I saw this as an opportunity to extrapolate the uptrend established in 09. Whether or not this continues to be fruitful is yet to be seen. 📈 I remain bullish with a de-facto upside trigger of $ES_F 3860 This targets: 3872 , 3879 , 3889 , and 3906 . Extended target 3998 📉 Downside trigger is $ES_F 3806 This targets: 3784.50 , 3766.75 , 3743.50 , 3738 🔑 Takeaways here: We are nearing a pretty significant resistance region of $ES_F 3889-3998. It would be wise to de-leverage and see how we handle it before proceeding. That being said, outlook for the immediate term is positive. Leave some feedback below if you have any! And don't forget to like and follow if you'd like more 👍
CME_MINI:ESH2021
by willoptions
Breakout Or Fakeout?The S&P 500 futures are trying to get above the top of their range at 3804. The last hourly candle closed above it and we're seeing relative strength from the Russell 2000, Nikkei 225, and other indices here in the US and around the globe. Testing the waters here if I can get an entry at 3805 and look for upside towards 3855 over the coming hours/days. My stop is below that hourly candle's low, which also corresponds with the VWAP for the session at 3795. Reward/risk is 5:1 and sizing this risk at roughly .30% of the portfolio...so relatively small given two straight days of trading losses.
CME_MINI:MESH2021Long
by TomBruni
Can S&P Futures Break 3804?Looking for some continuation of the rally since the cash open. Need to see a breakout above 3804 to confirm that, so I've got a buy stop in above that level with a stop just below the recent low and a target of 3820. If it doesn't trigger, all good. Will wait for a cleaner setup to develop. Max position size based on the current reward/risk is 6 contracts, but still trading small on my first day and waiting until my confidence is up a bit before moving to full-sized positions.
CME_MINI:MESH2021Long
by TomBruni
5
07/01/2021 $SPX Up up and awayBuying continues with TSLA going to ATH, making Elon the richest man. At this rate, this wealth will be double that of Bezos very soon. And today is #NFP, so anything is possible but for now, difficult to call the top. Bias is up above 3809-12. Watch 3828.2 for a touch just before European open. If rejected, look for shorts to bias zone for possible bounce to 3828.2, 3851..9. Break of bias zone, 3781.4-3790.2 is next support, followed by 3766.7 and 3751.4. IMO 3766.7 is good level to touch today. But yes, who am I to call a top?
OANDA:SPX500USDShort
by FadeMeIfYouCan
2
07/12/2020 #SPX500 Bullish bullish bullishWhat's new? Nothing matters as long as liquidity is there But price is over-extended (nothing new too) and market structure is weak. Thus my blue bias zone is not low but high. Bullish above 3706. Targeting 3720, 3729 and 3740.1 should cap high of day. 3761 is a super strong higher level R. Below 3697 be cautiously bullish, targeting 3687-89. If zone breaks, 3677, 3662.7, 3652.3-54, 3637.5 are the levels below. 3630 should cap low of day and below 3624 is another support. If you don't want to short, just go long as any of the support zones. 3677 should be the stronger one.
OANDA:SPX500USDShort
by FadeMeIfYouCan
These are the two most likely tops for the S&P500We have yet to see the final clown push on this three-ring circus. Usually there is one final parabolic push before coming to a crashing end. Even though it will probably only be a 8-10% correction because money printer goes brrrrrrrrrr... there are some big factors that could cause a dump to cascade even further to lower fib retracement levels. These are boxes I'm drawing and the areas I have identified as that final push. It's nearly impossible to call the top on any market, but images from PBS such as the the one I have attached, support my hypothesis. We're way too bullish for this to last long. Retail will be led to the slaughterhouse. Welcome to the jungle.
SP:SPXShort
by Abstractions
2
25/11/2020 #SPX We are going to Pluto!Upmove continues, thus I shall stop my bearish view (on Twitter). My view means nothing, just follow my trade plan and you will do fine. Based on price action, I do expect a re-tests of 3616 and even 3588. That is only healthy. But market doesn't care so blindly buying is the good thing to do. My bias zone is at 3638-41.2. Above R are 3664, 3673-77 (strong R and ATH) and 3686. With another vaccine news, we might see 3722 but well, just saying. Below 3638, I will look to short to 3616-22, 3600.6, 3590.2, 3582. In the event of a strong sell, we might see 3560. Yea, wishful thinking. I may take scalps along the way today, but nothing major till 3638-41.2 trades.
OANDA:SPX500USD
by FadeMeIfYouCan
20/11/2020 #SPX Bull Bear fight continuesYesterday was a lackluster Doji day. I said it multiple times that the bears need to take this down earlier than later, and this week is better than next. Price still above 3510 which is good for the bulls. Today is #OPEX, supposed to be volatile day, and let's see if we will get a resolution today. Bias to downside below 3566-71.1, targeting 3555.1 and 3545.7, 3526, and strong 3505-3509 support zone. 3480 if traded, should cap low of day, providing low risk buy level. Above 3571.1, upside targets are 3584, 3592 and 3606. 3624 should cap high of day.
OANDA:SPX500USD
by FadeMeIfYouCan
18/11/2020 #SPX #ES_F Bull Bear fight continuesSellers failed to bring #SPX lower yesterday. It is approaching a critical level but bulls has advantage because monthly, weekly trend is up. Sell has to come sooner than later. If not, it is just a bull flag forming. My blue zone is 3607.2-10.6. I have shorted on break of this, below targets are 3588-92 support (yesterday's low), 3566, 3542 and 3522 should cap low of day. Lower level of importance is 3510. Above 3610.6, 3632, 3656 can trade while news can bring it up to 3670.6-73.6 which should cap high of day.
OANDA:SPX500USDShort
by FadeMeIfYouCan
17/11/2020 #SPX #ES_F Be bullish, just don't be the last buyerIt is pretty amazing how they can release vaccine news one Monday after another, and the market just spike up (prob due to algo) like that. Interestingly it happened after Presidential Elections, I mean Trump is like boasting how much he did to help USA with the Covid isn't it? But yet this news came later. Are the CEOs of the 2 companies Biden supporters? My plan yesterday was titled #SPX bullish for now. This is in view of the 3510 level which I said need to break, which hasn't. But if you didn't follow me on Twitter, I said that downside risk for all indices #SPX #DJIA #RUT exist as long as #NDX 12080 not broken. Do note this Today we started off with a gap up but now is coming down. #NDX went above 12080 but fail (look above and fail). IMO is bearish. Price has already crossed my blue zone - bearish. Below targets are 3604, 3592, 3574. 3554.8 should cap low of day but if that breaks, 3510 (the important level!) is below. Above 3625.8, look for longs, targeting 3640, 3652, 3670. 3670 is really a strong R. Expect it to hold. But anyway above it, we have 3701.6
OANDA:SPX500USD
by FadeMeIfYouCan