Can buyers get the job done?The S&P 500 had I confident close going into the weekend as buyers pushed the market up to previous eyes. The challenge now will be can these buyers get the job done on Monday and give a close above 5720.
WSP1! trade ideas
ES Range Expectation for PPI and the Friday SessionToday we're looking at ES e-mini futures for an expectation of the amount of range we could do. We take a look at both the upside and downside to get a view on where the boundaries of normality would be to aid us in framing intraday trades.
Yesterday's CPI Inflation data provided us with the 2nd large range day in a row (big range days tend to cluster) and today we're about to get the PPI data that usually follows the day after but is a bit more forward looking on inflation expectations. In short it could be another catalyst for another large range day.
Daily Recap - SPY QQQ DIA TSLA LULU SNOWA quick recap of today's action. Nice recovery for ES and NQ, right back near all time highs. Another day of vol crush, looking forward to seeing where things head next.
Day TradePrice didn't break the control low yet, but with the long basing and the RSI is saying momentum is to the down side. Price may not hold.
20240712 ESI anticipate Judas upside move and reversal to the downside after that. The DOL for the upside Judas is 4h sibi CE inversion. That is an ideal scenario. DXY can make a new weekly low to raid the Monthly ss level, that will create more upside in stocks. The 8.30 Hi news is to bring the volatility.
Not looking for follow-throughI'm not looking for follow-through to the downside in a big way in the S&P 500 for Friday's action. An inside day or slightly lower movement would be more expected behavior.
ES price Action REview 7-11-24going over the price Action ES CPI day. looking for clues as to what the market was telling us and how we should have better played the day.
SP500 BULLISH!!!!DO NOT WORRY!!! JULY is one of the most favorable months for the SP500.
Trade at your own risk! Open buy trade only after the market gives you confluent confirmations!!!!
ES Possible top todayES could be forming a possible to to start a correction of 3.5 to 6.5 %
Please listen to the record for all explanation .
Thank you.
spy short ideaShort swing. waiting for break down to enter. Waiting on a few breaks. Basically out 30min key zone that we fail to break for 2 weeks. From the technicals. As long as the 9 20 and 50 are pointed down, I will hold a short bias. Using the break above or below the 9 as an ENTRY or EXIT POINT
ES Levels & Targets for CPI day. July11thBuyers have giving us a historic run for over 180 points since last week Tuesday’s 5506 failed breakdown, with real 0 dips. CPI at 830, size way down now, expect irrelevant noise and traps for the 1st 30mins or so. Anything can happen. As of now: 5670-72 is support. Buyers must hold (or recover quickly if not) to keep 5690, 5696, 5710+ in play. 5670 fails, sellers dip us to 5660, 5642
Look Below /Above And Fail
In trading, "look above or look below and fail" is a specific market behavior observed on candlestick charts. This term describes a situation where the price of an asset moves beyond a certain level (either a high or a low) but fails to sustain that movement and retreats back to the original range. Here’s a breakdown of the concept:
Look Above or Look Below: This phrase refers to the price action of an asset either pushing above a resistance level or dropping below a support level. These levels are often watched by traders as significant indicators of potential price movement continuation or reversal.
And Fail: The “and fail” part of the phrase occurs when, after breaking a key level (above or below), the price does not maintain its new trajectory. Instead, it returns back into its prior trading range. This is a failure to establish new ground, suggesting the breakout or breakdown was not supported by enough market conviction.
Implications in Trading:
False Breakout/Breakdown: This scenario is often referred to as a false breakout or breakdown. It can be a trap for traders who may enter positions expecting the price to continue in the direction of the break, only to find themselves in adverse positions when the price reverses.
Market Sentiment: Such price actions can be indicative of the underlying market sentiment and can lead to significant price moves once the failure is recognized. If many traders acted on the initial break, the reversal could be rapid and sharp due to a rush of traders exiting positions.
Strategy Formulation: Traders might use this behavior to formulate strategies, such as entering trades on a pullback into the range after a failed breakout, anticipating that the price will continue within the range.
Understanding these dynamics helps traders manage risks and set more precise entry and exit points based on the validation or failure of breakouts and breakdowns.
A critical piece of the puzzle!The Fed open the door to the possibility of a rate cut later this year with comments about price pressure and inflation. The next critical piece of the puzzle will be CPI being released on Thursday. It can continue to set the tone for the S&P 500. Although this market responses 50-50 the bias for the S&P 500 is to the upside.
Daily Recap - QQQ Trade Setup + LULU SNOW COIN TSLA CHWYHad a good day today, but I didn't trade perfectly. Still managed to get in some good positions and take some profits. We'll see how CPI tomorrow goes.
ES Day's Price Action Review 7-10-24Going over the ES price action. great to be back from my west coast trip. getting back into the flow of the market now.
OHLC Stat Map + Average Range Levels1D -Manipulation turned to support after price broke it that was a first confluence. Entry was based on 1/3ADR+ & 1/3 AWR+ which also turned to support after price broke them, My target was 1D +Distribution. Rinse a Repeat.
