Earnings Earnings Everywhere... The nature and the tone of this week's earnings releases is likely to bring in some choppiness into the price action. According to the trading plans published on Friday, 01/20: "If the index closes above 3950 level, our models will switch from the cautiously bearish bias to a neutral bias. A daily close above 3985 will see our...
Our models re-iterate for today the trading plans published for yesterday. The market conditions have not changed that much, and the range of yesterday's trading plans is still valid for today. Happy Trading! And, a great weekend ahead!
Upside Momentum Broken Down - Day 2 In our plans published Monday, 01/09, we stated: "The index is now approaching the resistance band in the range of 3960-4002, and the price action in this range determines the next leg". The lower bounds of this range has been decisively broken down yesterday. Our models are adapting a cautiously bearish bias while the index...
Earnings, Inflation, and China Re-start In our trading plans published Monday, 01/09, we stated: "The index is now approaching the resistance band in the range of 3960-4002, and the price action in this range determines the next leg". In our trading plans published yesterday, Tuesday 01/17, we wrote: "This range is still in effect for today's session. Models...
Inflation Numbers Good, but Not Great The CPI numbers and Initial Jobless Claims this morning have not really provided any directional thrust other than a huge whipsaw. As of nearly one hour into the release, there is really no directional catalyst on the radar for today. Our models indicate choppy trading while the index is between the broader range of 3900-3965...
I will leave an SPX update for the other site. But here is a sneak-peak of what I expect going into the CPI release on Thursday and next week Enjoy, and don't get trapped in case we really spike up on CPI numbers on Thursday and crap from there. And don't blame anyone if you are short and get stopped on CPI release or try to chase the market and go long on...
Resistance Band Held Yesterday In our trading plans published yesterday, Monday, 01/09, we stated: "The index is now approaching the resistance band in the range of 3960-4002, and the price action in this range determines the next leg". The index failed nearing the lower end of the resistance band and got repelled from there strongly. Our models indicate choppy...
NFP Data Mixed - Be Wary of Jumping the Gun In our trading plans published on Thursday, 12/22, we stated: "Our models reiterate range-bound trading while the index is within the broader 3810-3860 range on a daily close basis". In spite of a lot of spiky price action since then, and despite the initial pop today after the NFP numbers, the index is still within...
Next Support Level - Confirmed In our trading plans published on Monday, 12/19, we stated: "...the index is now testing the next key support level around the 3825-3835 range. Our models are indicating a range-bound trading while the index is trading within the broader 3810-3830 range on a daily close basis. If you are short, you might want to take profits on a...
I can say that the lows are in for now, but the only issue is the timing, its not going to bottom till the 22nd. So to me it seems its going to test lows 3750ES zone by the 22nd and then go up into early high next week on the 26-27th. Thursday should mark the bottom and then go up on Fri hard on the data is my thinking. That high should be limited to 3950-60SPX imo
Havent updated my ES progress chart, here is one If first box is taken (which I think has high chances of holding tonight), then the second box in 3750ES zone should hold and bounce into the open. If second box gets hit early am before the open, it will be a perfect buying opportunity for me for a 100 points move up plus
Next Support Level Being Tested The key support level identified in our trading plans published on Wed., 12/07 - and, reiterated on Thu., 12/15 - at 3900-3910 has been decisively broken down, and the index is now testing the next key support level around the 3825-3835 range. Our models are indicating a range-bound trading while the index is trading within the...
Now lets see if it closes on the lows (bearish into tomorrow) or will continue push higher (bullish into tomorrow open)
Bull Trap from Last Week Re-testing Key Support In our last trading plans published on Wed., 12/07, we wrote: "Last two sessions turned the recent spike up into a bull trap. However, our models are indicating that the index is likely to find some support around the 3910-3915 range. Longs might want to wait to see if the index holds this level, and shorts need to...
Im not an expert in EWT but this is what I see in case its going to make a new low. Im going to buy that area for a bounce
Looks how its holding the upper part of the cloud, I expect it to break at some point and get into the target box I wont be long if we hit my target by the close, especially the 4k region Im slightly long here, for the required target, will add if the price gets to 3950ES
Fed Pivot Hope Turned Into a Bull Trap; Approaching Support In our trading plans published post-NFP on Fri., 12/02, we wrote: "After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning's Non Farm Payrolls data could be suggesting that it could potentially be an...
Fed Pivot Hope Turning Into a Bull Trap Nightmare? Day 3 In our trading plans published post-NFP on Fri., 12/02, we wrote: "After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning's Non Farm Payrolls data could be suggesting that it could potentially be an...