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Es_f

ES!1, Primed for a directional moveA very balanced day with a narrow range. A doji daily candle. The market took a pause to build a mature balance. Usually, this type of a price action leads to a directional move in the following day. Watch for a conviction, a strong bar originated from the high value node around 2633-37. That conviction with a good volume should take the price above 2677 or below 2596. Recently, the correlation between the indices was high. They move in sync. However, if one of them shows its hand first that could be a first sign. Some observation: The bonds continue to rise, the institutions buy safe assets. The dollar was trending higher today. These two factors are not supporting the rise of the equities. 01/24/2019
CME_MINI:ES1!
by SviCapital
5
ES1!, The market is testing everyone patienceThe RTH daily range is contracting. The price did not get neither to OVN low or high. No changes to the market structure. There is a composite high value node at 2584 . Usually, a high value node is a launching point of a directional move . Something to watch. At this point the buyers continue to dominate. There is no obvious signs of their failure. This week we may see some resolution sparked by banks earnings. Once observation for today: the buyers are running out of steam - there were not able to close the gap left from OVN session.
CME_MINI:ES1!
by SviCapital
7
ES1!, where we go from here...Here is an updated chart. The daily range was contracting day after day and this is typically a sign of a bigger move coming soon. It does not really matter what will spark it. Let’s start from the upside scenario and what is in favor of it. A small consolidation area is formed at the upper edge of the balance. A breakout of that small area will be a breakout of the larger balance as well, market is fractal. The price has a tendency to extend a mature balance 100% . The empty rectangle above is the projected area for the price to move and fill it. What else is in favor of the upside scenario - a notable resilience. The buyers clearly in control and buy even shallow pullbacks. Now, the downside scenario. A breakdown of the small upper balance and the trendline with a strong initiative move will lead to a retest of 2546 area first. Watch how the small consolidation area in the middle will be sliced through like it does not exist. Those are trapped buyers that will be covering their positions. The potential target is bottom edge of the balance 2520. That level could provide a nice bounce on first test. If you are an active trader that would be your cue to go long and play the bounce. After that I anticipate a consolidation at the lower edge. Have a great weekend!
CME_MINI:ES1!
by SviCapital
ES, latest updateThe updated chart with minor and major levels to watch applicable for day trading. The price continues to be resilient and the buyers maintain the control. The channel was broken OVN and that encouraged the sellers at the RTH opening. However, the sellers failed to take out 2561 level and the buyers stepped in ahead of the OVN low. The shorts got squeezed again and that set the day’s bias. The broken channel bottom was tested twice and provided a tradeable reaction. The market is looking for a catalyst to break the recent balance. The dovish Feds news is getting old. One thing was interesting to observe how the algos reacted during Feds chair conference. It was amazing to watch the price action. The minute he said about continuing to unload their balance sheet - a strong downside move. The price normal flow gets interrupted by such remarks. Nevertheless, the bulls reclaimed their positions after that. At this point the market is building energy at the upper edge of the recent balance. That fact is increasing odds for the upside breakout. Today’s low is important level for the bulls and losing it may shift a short term bias to the sell side.
CME_MINI:ES1!
by SviCapital
9
/ES - Overnight SwingSimilar to my SPY analysis - i was a bit shocked on Friday and did lose on my puts at the 61.8% retracement level. I am planning to scalp this overnight and will sell after /ES reaches 24% fib retracement (2771-ish range) If it rejects off the 24% fib, I am planning to long PUTS, predicting another impulse wave down. This wave down may break /ES outside of the consolidation triangle. Marking this neutral since it is a short scalp. I will update the chart tomorrow morning.
CME_MINI:ES1!
by TradeAlchemy
2
so close to bearish but not there yetthis market looking more and more bearish and im not saying were bout to go into bear market but there a couple thing you wanna watch. 1. look at the longer tail candle from the upside, this show major weakness from the bull and they cant push the markets higher.2 spy stop at just below a major SMA. 3 stronger volume on the down side. we also have bad pr trade war, inflation. Again im not saying we are going in bear market but bull market is over but expect a down move coming
AMEX:SPY
by Realljuicytradez