All info is on the chart. Good luck
ES / SPX ATH gives a bullish stance but looking for a correction / more consolidation first. Looking to retrace to first stop @ 3630 POC for the current run up from 02 Nov 2020 is @ 3560 RTY / RUT Consolidating below POC, if there is a close below 1822 a retracement to VPVR nodes is likely First Retracement to 1800 (weak support) then to the next much more...
$MES_F #MES showing a solid 3-press low formation that is looking to fully complete at the bottom of channel support. That creates a great one-two punch for longs to attempt a pop higher again.
A 1 min video just to show the difference (or similarity) between the MNQ and MES using the same exact day/time, timeframe, and indicators.
After the $MES1! sellers drove prices down aggressively lower, price has been shifting to a much more range bound stance being confirmed even more by the rounding price action. There are also two separate 3-Press Lows forming at almost identical locations on top of measured move completion targets. There are likely only going to be two responses to this movement...
Interesting to see where we close with respect to this trend line . We make back up into the 3320's before close then the trend holds.
Getting ready for some excellent buy opportunities in the coming weeks. It goes without saying that the 50 and 200 Week EMA offer impenetrable support. V o l u m e, in addition to EMAs, mark the key levels to watch for a bounce. Closing above a high volume level is a buy!
These charts show how NDX cleans up unfinished business and the SPX is not. This is also true in /NQ Futures vs /ES/ - which makes it easier to trade as of late.
Nasdaq Futures with lots of targets below got stopped dead - as the ES Futures hit yesterdays VPOC - this turned off the downward action. In the 15 Minute Bar the NQ lost 84 points - the move down was just as quick up, you couldn't hit the buy button fast enough to buy back shorts. NDX - Gap shown one of only two - unlike SPX which has four for the month of...
As September is just around the corner and the 2020 Elections is just two months away a quick look back at the unfinished business for the month. As noted there are five Virgin Points of Control in August, moreover there 4 gaps in the SPX - price usually doubles back to confirm price before moving up. This isn't happening - and the market profile is very thin...
We're initiating a swing short 3375 MESU2020 on the double top retest here in the Friday session globex. Using the first extreme turn on the 2H since 7/29. No initial stop, targeting the 50 Fib bid zone at 3300. Small starter position so risk will be .03% of account. Another expression of the signal is synthetic short calls, shorting the ES and selling ATM ES...
if it can hold 3370.00 then it may retest the high of day at 3380.50. lets see.
Looks like 3271.5 is a pretty solid resistance level, and we've been getting a nice uptrend here. Using small size and betting short here, this looks very toppy to me and a great place to make a quick profit.
I am heavily short, nothing is going to shake me out - going for broke diamond handing this. Daily View
I see an overthrow of this corona virus rising wedge (to screw everyone), clears the gap, then market correction induced by profit taking.
This is the same rising wedge setup that got broken to the upside (wrongly) back days before the JUN 11 market drop. JUN 9 was the last FOMC, they are setting up the exact same play again (look at the greyed out rising wedge around the 3rd red circle). Fake rising wedge upside break, then dump. Wish I had seen this sooner.
3210 has to break first (this is 3 months support) 3190 has to go next (this is the price level that has been defended ever since we gapped over it due to the fake vaccine presser on Jul 14 at 5 pm) 3150 is next and is a very strong support because many supports coincide there - resistance break out turned support from February highs - bisecting line from 2018...
It's clear, central banks are here protecting the 3190 level, desperately suppressing DXY, this time the BoJ took the baton over from the ECB to suppress DXY via UJ pump. The effect of DXY suppression = equities support mechanism is diminishing, marginal impact from continued suppression is now occuring. Someone has to force their hand lower.