Trading Plan for Friday, May 24th, 2024 Market Sentiment: Uncertain, as the market has transitioned from a rally to a short-term dip. Bulls are attempting to defend key supports, while bears are looking for further downside continuation. Key Supports Immediate Supports: 5265 (major), 5253 (major) Major Supports: 5230-35 (major), 5202 (major), 5177 (major) Key...
We expect further bullish prices in the S&P 500, ESM 2024. After the FOMC Meeting Minutes, yesterday, the daily candle closed bearish, but above 5315, which indicates further bullish prices on the daily. We will be therefore looking for bullish tradesetups today and further until proven otherwise. However, we will have to see if good setups form, since price...
Trading 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,...
Trading 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...
Trading 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...
Trading 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)....
Trading 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...
Trading 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),...
Trading 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...
Trading 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...
Trading 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...
Last weeks levels provided to be partly actionable and price has immediately responded (See attached post). Comfortable holding this 50% long position with stop/target untouched. Will be looking for opportunities to buy the other 50% and increase risk as I'm confident in the bullish sentiment after last weeks Feds statement. I hold an underlying belief that the...
Trading 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),...
Trading 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...
Trading 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...
Trading 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...
Trading 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...
Trading 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...