spytradingpro

spytradingpro

Recap Yesterday's newsletter highlighted the ES' tendency to show early-week weakness followed by strong action on Thursdays and Fridays, a pattern that has become increasingly noticeable over the past eight weeks. This trend was validated by yesterday's market activity, which featured a substantial rally after a significant triangle pattern breakout last week, a...

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Recap Over the past few weeks, a pattern has emerged where Thursdays and Fridays see a violent squeeze, followed by a "hangover" state in the first few days of the next week. Both last week and this week so far have followed this pattern. We are currently in the sub-4200 congestion zone after yesterday's dip, having retraced about 60% of last week's rally. The...

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Recap ES has been in a broad dip-buy regime since October. Today marked the first post-rally pullback, and the ES had a very choppy/corrective session. We are in a confusing post-rally consolidation phase, with a new consolidation range between 4206 and 4243. The Markets Overnight 🌏 Asia: Down 🌍 Europe: Down 🌎 US Index Futures: Down 🛢 Crude Oil: Down a lot 💵...

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Recap After shaving 100 points off the weekly low, we are currently monitoring several structures. A "triangles within triangles" pattern is emerging, with a larger triangle appearing (shown in purple). Although this technically broke out yesterday, factors like stretched-out RSI and the upcoming long weekend make us suspect ES still has work to do. After...

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Today's Recap This week, we experienced a nice 130-point decline, creating a unique short opportunity. The market overreacted, but since October, dips have been consistently bought. We repeatedly held 4123-16, climbed back to 4165-75, and then experienced a tradeable dip to open today's session. In this newsletter, we will discuss the setup that got us long for...

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SPDR S&P 500 FUTURES ESM2023 & SPY ETF - Market Update - 5/25/23 Today's Recap This week has been a mirror image of last week, with the ES building a smaller triangle and breaking down, triggering a nearly 100-point sell. Although this seems dramatic, similar dips have occurred in the past month and have been bought. The question now is whether this dip will...

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Today's Recap The failed breakdown, my primary setup, and how it leads to profitable trades are all covered in this newsletter. Along with providing the day's workable trade plan, I also discuss how I've been managing my long since last week. Market cycles between Trend and Chop are common. Our 105-point rally last week was an extreme Trend, and it was followed...

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Charting 101, Trailing Stops, Bond Yields, and the Debt Ceiling Introduction In this newsletter, we'll recap the recent market action, discuss the power of holding runners, talk about strategies for trailing stops, and provide an update on bond yields and the debt ceiling. We'll also provide an actionable plan for the upcoming trading day. Market Recap Last...

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SPDR S&P 500 FUTURES CME_MINI:ESM2023 & AMEX:SPY ETF - Evening Market Update - 10/18/23 Today's Recap We saw a remarkable movement in ES over the past week. It was technical analysis at its finest: a 10-day tight range was followed by a breakout, just as the underlying trend suggested. As per historical trends, these range breakouts can lead to sustained...

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The market closed higher today. The move higher was driven by a number of factors, including stronger economic data and expectations that the Federal Reserve will not raise interest rates in June. However, the looking debt deadline is not in the review mirror yet. Key Points The market broke out from the tightest range seen since April 2017. The next level...

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We witnessed a choppy session today, mainly pinned at 4135. The market fluctuated between 4155-4130, indicating the possibility of a breakout pushing up the levels to megaphone resistance. The bearish case will start with the failure of 4131. Today's session was marked by a continued consolidation within a narrow range for ES_F. The market has been in a tight...

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Intraday Update Coming into this week, ES tested support at 4112 Friday with a double bottom. So far it’s been a choppy start to the OPEX week, with key support at 4132-29. There have been six round trips between ~4150s and 4120s, and we observed good follow-through in the market. 4155 just rejected down to 4136. Last Week We saw the market consolidating with...

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SPDR S&P 500 FUTURES ( CME_MINI:ESM2023 ) & ETF ( AMEX:SPY ) - Market Update - 10/10/23 The April Consumer Price Index (CPI) report showed a 0.4% increase last month, driven by rising shelter, used vehicle, and gas prices. This increase met Wall Street expectations, and the annual inflation rate of 4.9% came in slightly below estimates, providing hope for a...

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SPDR S&P 500 ETF ( / AMEX:SPY ) - Market Update - 10/9/23 Introduction Monitoring possible market changes as we move through the constantly evolving financial environment is essential. In today’s release of the SPY Trading Pro newsletter, we will examine how a significant market decline may happen in two separate stages and its potential effects on investors...

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SPDR S&P 500 FUTURES ( CME_MINI:ESM2023 ) & ETF ( AMEX:SPY ) - Market Update - 10/12/23 The trading session was a showcase of failed breakdowns. This reaffirmed that most local lows and highs are set with these failures. A key takeaway is that more trading doesn’t necessarily lead to more profits. The strategy that has proved most profitable is consistently...