Don’t Mind the Sunday/Monday Gap - Time to Sell ES and YM. . . ES has hit is 50% short based on Friday’s close. Time to sell your ES short NOW.
YM1
Sentiment on Gold is WAY TOO bullish short term The sentiment on gold and gold stocks is way too bullish for the short term. I am not a bear and I am bullish on gold mid to long term but gold has to flex lower to get the power it needs to get past $1800. If the stock market ) rolls over, which I think it will, gold will not escape the selling pressure. Then it will bottom and be ready for the sky rocket move everyone expects. Also, keep an eye on DXY. Any surge in DXY will send gold lower. Just thoughts ...
Current contrarian position with PUTS on GDX (15 May) as well as PUTS on SPY (June 19)
P.S. GDX is up 2.1% on the day... good entry point???
Disclaimer: The above is only my opinion and in no way can it be interpreted as investment advice. Trade at your own risk and do you own due diligence.
ES Short on DayTradeSunday night gap fill was close enough. Time to sell ES short. 2805.50 is the trade.
update dow futurethe vision is more clear now. the rise in dow unfolds as 5 waves and the correction wave is about to begin once the last wave complete. No action was taken only watching.
Dow Futures Rising Wedge IdeaFirst just under 27,000 then we tank
Simply based off pattern recognition, do not trade this.
The bear counter attack!Previously, we saw a bevel pattern on the Dow and SP. Now we may have the continuation of the bearish movement.
YM - e-mini DowJones S/R levelsHello traders,
Description of the analysis:
The market generates higher price distributions in rotation with the support of volumes. In the analysis, I marked the supports mostly on the first standard deviation of the volume profiles at the indicated ranges. Keep in mind that the red line is the price of the largest volumes on a given range, which means a fair price. The market often rotates around this price in a balanced profile. And when the s/r zone is supported by a fair range price in the past, the zone is more likely to react faster. The thicker the zone is, the more important it is. It always depends on market sentiment, because even strong support or resistance can be skipped without reaction, so always follow the money management and business plan. The future in the markets is always work with probability and money management.
About me:
Hi, my name is Jacob Kovarik and I´m trading on stock exchange since 2008. I started with a capital of 3000 USD. My first strategy was based on OTM options. (American stock index and their ETF ). I´ve learnt on my path that professional trading is based on two main fundaments which have to complement each other, to make a bussiness attitude profitable. I´ve tried a lot of techniques and many manners how to analyze the market. From basic technical analysis to fundamental analysis of single title. My analytics gradually changed into professional attitude. I work with logical advantages of stock exchange (return of value back to average, volume , expected volatility , advantage of high stop-loss, the breakdown of time in options, statistics and cosistent thorough control of risk). At the moment, my main target is ITM on SPM index. Biggest part of my current bussiness activity comes from e mini futures (NQ, ES). I´m trader of positions. I´m from Czech republic and I take care of a private fund (4 000 000 USD). During my career I´ve earned a lot of valuable experience, such as functionality of strategies and what is more important, control of emotions. Professional trading is, in my opinion, certain kind of mental training and if we are able to control our emotions, accomplishment will show up. I will share with you my analysis and trades on my profile. I wish to all of you successul trades.
Jacob
Current scenario in Dow jonesHere we have the weekly Dow jones facing the MA200. It is interesting to notice that the MA200 was strong support for 10 years. Now the question is, will it become a resistance?
As always, we should always wait for confirmation!
Dow Jones Higher Low, Higher High w/ 38.2% Fib BeatDow Jones Futures are currently up nearly $900(4%) to $23,400 and has made a push above the 38.2% Fibonacci retracement level and out of the bearish lower levels of the total Fib range. With price moving above the 38.2% Fib level, price has also created a higher high and higher low which indicates a short-term uptrend so the view has now shifted from bearish to neutral with a bullish bias. Short-term resistance is expected to come in at the 50% Fibonacci level near $28,300, while a push above that level would put price back in the bullish half of the total Fib range. A bullish pullback from here would be any hold above the 38.2% Fib level with secondary support being at the 23.6% Fib. Going forward, price will remain in an uptrend as long as the 23.6% level isn’t violated.
With price making a higher high and higher low, the stop-loss level for long trades can now be moved from the previous doji candle last week to just below the higher low area. This higher low was at the 23.6% Fib level which acted as support for the past 8 sessions and represents an area of price demand prior to new highs being made overnight.
The Relative Strength Index(RSI) has now begun to move above the centerline at the 50 level. In general, an RSI reading above 50 indicates bullish momentum while an RSI reading below 50 indicates bearish momentum. A sign of bullish momentum continuation going forward would be a move above the 60 level.
The Price Percent Oscillator(PPO) continues to show the green PPO line rising above its purple signal line which indicates short-term bullish momentum. Going forward, the PPO needs to rise above the centerline at the 0 level in order for the intermediate to long-term momentum to shift bullish.
Overall, price is looking better here than it has at any other time over the past 5 weeks. A move above the 50% Fib level is critical here for bulls to maintain bullish momentum, with a move above the 61.8% Fib level needed to put price back into a true bullish trend.
I was previously expecting a move below the 23.6% Fib level, but with changing technicals comes a change in view, and right now traders appear to be bullish according to the technicals.
Buy Put Dow Jones (DIA/YM1!) Jun 19 '20 $160 @ $5.60Short Dow /YM1! for 16,000 Strike Price. Purchased at 21,000 @ $5.60 Put.
Dow Jones RangeboundThe Dow Jones Industrial Average is on its 8th day trading between the 23.6% and 38.2% Fibonacci levels while currently holding support at the 23.6% Fib level. As long as price is trading below the 38.2% Fib level the trend will remain bearish. Price is rangebound between these lower Fib levels while trending below the red downtrend resistance line which is also adding bearish pressure on price and preventing a move above the 38.2% Fib level.
The Relative Strength Index(RSI) is still trending below the centerline(50 level) which indicates that overall momentum behind price is bearish. An RSI(green line) reading above 50 is considered bullish while a reading below 50 is considered bearish.
The Price Percent Oscillator(PPO) is still showing the green PPO line rising above the purple signal line, with both lines moving upward indicating a short-term bullish momentum trend, but both lines remain below the 0 level indicating overall bearish momentum. A PPO reading above 0 is considered bullish, while a reading below 0 is bearish.
Overall, the trend behind the Dow Jones is bearish and I’m expecting an eventual move below the 23.6% Fib level as data releases continue to show extreme weakness in the U.S. economy.
𝗕𝗼𝗲𝗶𝗻𝗴 𝗨𝗽𝗱𝗮𝘁𝗲: $BA Weekly. 737 Max ProjectionPossible it goes for the ~250 gap, but my lean is the POS gets crushed. Doesn’t want gov assistance ... oh really? They weren't selling pre-corona. Revenue drop in 2020 will make 2019 look like nothing
Short YMThis could be the top of the countertrend rally based on trend lines
Short at 22020
Take profit at 15600
Stop above recent high
𝗗𝗼𝘄 𝗨𝗽𝗱𝗮𝘁𝗲: $DJI Weekly. 2008 PlaybookIn June 2008, #DowJones broke its weekly 200ema and key support (DotCom highs). It then backtested in following months before next major down move. The setup is similar now 🤓
𝗗𝗼𝘄 𝗨𝗽𝗱𝗮𝘁𝗲: $DJI Weekly. KEY TRENDLINE AT RISK#Powell and #PPT trying to save MAJOR long-term TL. Will they be able to do it in the next hour?? 👀🍿
Capitulation Long on All Indices + #OILWe have some major oversold readings yesterday and last night. I am predicting a bounce similar to FEB 2018. We tagged the Year CAM S3 target that I spoke of yesterday, and some other MAJOR targets as well for SPX500 futures.
