INGDAN INC stock forum
SPY looking for a close below $400 on the intraday 3/30/23tradingview.com/x/wHpGgdoQ/
SPY next level 396 looking forward to go above by $400 todays market close
ESH2023 / SPY Good morning traders! Yesterday was one amazing day for those of us who were able to be on the right side of the trade. We discussed the importance of the range yesterday which had potential to play out on either side with the same force. The bears ended up winning the battle, BUT was not do to volume or sell pressure, but rather lack of buying so this leaves us with today. Question we need to ask ourselves as risk managers is was the buying not involved yesterday simply mean they were waiting for today or are we in store for some real sell pressure today? For that answer we shall use our ranges and closes to guide us throughout the day......
SPY range today is 404.07 to 405.68 (ES - 4069.75 to 4082) with SPY bulls sole mission today is to close the day above the range in order to not allow the collapse of the market. This will need to come by way of sideways slow steady action that chews up traders and later in the day to begin ramp up higher. SPY bulls will be looking to close every third 60 min close above the bottom portion of the range to keep this plan in tact. If SPY bulls begin closing two 10 min candles above SPY 408.01 (ES - 4106) at any point today then that would mean something else is going on and they are looking for a larger upside move today to and or through SPY 410.19 (ES - 4124.25)
SPY bears today will be looking to really put a hurting on the market and they will be doing all they can to have a 3% down day today. This will put price down below SPY $400 to close the day. In order for them to achieve this plan the SPY bears will first be seeking to close two 15 min candles below the range and thus starting the potential for a sell off day with some real pain involved. SPY bears need to confirm by closing a 60 min close below 400.46 (ES - 4049.50) which will open the pocket below to and likely through SPY 396.23 (ES - 3990.50)
Note: SPY 60 min closes are at the bottom of the hour 10:30, 11:30 etc etc
Check out the recaps later on YT @JensonCode and live streams on Wednesday's 12 -2 est
