Get started

Es!

10/20 Trading Plan - Thursday Recap and Day AheadRecap After being in corrective mode for several days, ES arrived at the technical equivalent of ground zero - the 4330-36 zone. This zone is significant as it defines the uptrend that ES has been in for exactly 1 year. The arrival at this zone resulted in some of the most volatile, trap-filled, bipolar price action in many months. The 4330-36 zone was tested 5x over the past 24hrs, with multiple liquidity grabs below and multiple resultant 30-40 point squeezes, before finally losing it late day and flushing hard. The Markets Overnight 🌏 Asia: Down 🌍 Europe: Down 🌎 US Index Futures: Down a bit 🛢 Crude Oil: Up 💵 Dollar: Unchanged 🧐 Yields: Down 🔮 Crypto: Up strongly Major Global Catalysts Jay Powell’s hawkish statements. China imposes restrictions on graphite used in EV batteries in retaliation for new US chip export controls. Key Structures Two lines have been discussed for weeks and months. One is the core bull market trendline from October 2022, which fell 4336 yesterday. The other the horizontal trendline connecting the September 2022, Feb 2023, and June 2023 highs. These lines converged at the same spot at 4335-4330, causing significant price action. Support Levels 4296-4302, 4280, 4268, 4222, 4213, 4205, 4182, 4153. Resistance Levels 4330-35, 4355-57, 4373, 4385, 4413, 4418, 4439, 4460, 4468, 4480-85. Trading Plan For any "bull case" in a sustained sense, 4330-35 must reclaim. If we continue selling today, 4268 is the absolute lowest bulls can see, as below there we start down to new lows at 4222. In terms of spots to add on strength before 4335, reclaims of 4302 are of interest. The bear case today begins on the fail of 4296-4302. If ES accepts this zone overnight and clearly fails to push and builds a base - very low 4290s/high 4280s 1 spot to try a "breakdown short". The next "big short" for me comes on the fail of 4268. Wrap Up We have lost a major support at 4330-35 and put in a big red day. It is likely the level backtests from below now. My general lean is we can perhaps push lower to 4279 or 4268 lowest, then attempt to backtest 4330-35. If 4302 reclaims, we may backtest direct. New lows below 4268.
CME_MINI:ES1!Short
by spytradingpro
Country Garden is unable to meet the offshore debt payments The past few days were quite choppy for SPX. However, S&P 500 E-mini Futures have not broken above the 0.5 Fibonacci retracement level. That allows us to maintain a bearish stance and keep the recently introduced setup valid. As a result, there is not much to write about today, except for one noteworthy thing that caught our attention overnight: one of the largest Chinese real estate developers, Country Garden, failed to meet offshore debt payments (already in the grace period), suggesting default proceedings might be next. We will update our thoughts on the asset with the emergence of new developments. Illustration 1.01 Illustration 1.01 displays the daily chart of ES1! and Fibonacci retracement levels. Technical analysis gauge Daily time frame = Neutral Weekly time frame = Slightly bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXShort
by Tradersweekly
6
10/19 Trading Plan - Wednesday Recap and Day AheadRecap Yesterday marked the fifth consecutive day of intensive rangebound trading, making it one of the choppiest days in recent months. It ended with a late-day downward trend, following a 187-point rally from the October 6th low. The market spent nearly a week in consolidation mode, oscillating between 4366 and 4418. This range eventually tightened and peaked yesterday before finally breaking. The 4375-67 zone was a key battleground, with the market bouncing there twice before finally breaking down mid-day. The Markets Overnight 🌏 Asia: Down a lot 🌍 Europe: Down a bit 🌎 US Index Futures: Up slightly 🛢 Crude Oil: Down 💵 Dollar: Down slightly 🧐 Yields: Up a bit 🔮 Crypto: Mixed Major Global Catalysts Yields and mortgage rates approaching two-decade highs. Key Structures The key structures to note include 4477-82, 4418, 4374-67, 4336, 4330, 4302, and 4268. Each of these represents important pivot points or trendlines that have influenced the market's movements. Support Levels 4343, 4335, 4329, 4322, 4314, 4302, 4292, 4286, 4279, 4266-68, 4258, 4251, 4233, 4227, 4224, 4213, and 4205. Resistance Levels 4356, 4367, 4373-75, 4385, 4394, 4404, 4412, 4416-18, 4432, 4338, 4449, 4458-60, 4473, 4480-85, 4494, 4505-07, 4515, 4525, 4532-35, 4542, and 4549. Trading Plan For bulls, the 4330-36 zone must hold, and 4373-75 must be reclaimed to set a "bottom". For bears, a fail of 4335 could initiate a bearish move. In both cases, avoid chasing and aim for entries close to recent highs/lows or near a recent base. Wrap Up The market is still in a corrective phase following last week's rally. The core bull market trendline from October 2022 at 4330-36 was backtested late yesterday and will be key today. If 4330-36 holds, we could backtest 4373-75 once more. If it fails, we could start a leg lower to 4302. The RSI is now extremely oversold, indicating a potential for a reversal. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
CME_MINI:ES1!
by spytradingpro
10/18 Trading Plan - Tuesday Recap and Day AheadRecap This trend continued yesterday as the ES continued to build a base between 4360 and 4410-20. Despite a lucrative run today, ES has ultimately been displaying a lot of volatility to go nowhere, as we continue to base in the 4410-20 to 4360s range. This will inevitably result in a large trend move. But in which direction? The Markets Overnight 🌏 Asia: Mostly down 🌍 Europe: Down 🌎 US Index Futures: Down 🛢 Crude Oil: Up 💵 Dollar: Up slightly 🧐 Yields: Up slightly 🔮 Crypto: Mixed Major Global Catalysts Markets nervous as Israel-Hamas war intensifies, Biden visits Israel, and Jordan cancels planned summit with Biden and Arab leaders. Euro area inflation declines. Key Structures Some big-picture structures/levels that are notable from highest to lowest include 4478-85, 4418-24, 4375-67, 4336, and 4327. These are not comprehensive and are simply major structures to take note of, and they are not predictive. Support Levels 4390-93 (major), 4375 (major), 4367, 4355, 4343 (major), 4335 (major), 4327, 4314, 4299-4302, 4288 (major), 4278, 4269-70 (major), 4263 (major), 4255, 4244, 4224-27 (major), 4212, 4205-08 (major). Resistance Levels 4403, 4408 (major), 4418 (major), 4424, 4430, 4439 (major), 4443, 4452-55 (major), 4462, 4471, 4478 (major), 4485 (major), 4496, 4505-07 (major), 4515, 4526, 4532 (major). Trading Plan We remain in a total chop zone, and I consider everything between 4418 and 4367-75 as being pure noise. It is not hard to trade - as long as you do not over-trade. Take your level-to-level piece and quit for the day. 4390-93 is first support and we are here as of writing. This is very well tested now. One could bid it at your own risk, or safer is to wait for it to flush and reclaim something like test 90 and pop above 93. Wrap Up In summary for today: We remain in chop and 4418-4367 is total noise and the action inside it is not predictable. My general lean is that as long as 4367 keeps holding though, ES can fill out this range more then attempt a break out to 4418, 4439, 4452-55. Ideally for bulls, 4390 can hold before this, but it is not fully necessary. If 4367 fails, we should see a good sell that sees 4342 at minimum. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
CME_MINI:ES1!
by spytradingpro
10/17 Trading Plan - Monday Recap and Day AheadRecap Last week saw the ES snapping its five-week losing streak. The catalyst? A recapturing of its core bull market trendline from October 2022 on the 6th, triggering a robust 187-point rally. Though the week ended on a lower note, it presented a tactical buying opportunity. ES is currently in a 3-day limbo, fluctuating between 4410 and 4355 since last Wednesday. The Markets Overnight 🌏 Asia: On the Rise 🌍 Europe: A Mixed Bag 🌎 US Index Futures: Plunging 🛢 Crude Oil: Slightly Higher 💵 Dollar: Mild Gains 🧐 Yields: Strong Upward Trend 🔮 Crypto: Taking a Hit Major Global Catalysts US to Ease Sanctions on Venezuelan Oil Industry Middle East on the Cusp of Widespread Conflict Key Structures Some big-picture structures/notable levels from highest to lowest include 4477, 4418, 4408-10, 4375-66, 4336, 4322-25, and 4314. Support Levels 4477, 4418, 4408-10, 4375-66, 4336, 4322-25, 4314. Resistance Levels 4408-10, 4418, 4424, 4433, 4439-42, 4450-55, 4462, 4471, 4478, 4484-88, 4496, 4504-08, 4515, 4526, 4532, and 4543. Trading Plan The goal for Tuesday is to trade level to level, one move at a time. If we break higher today, I am not a big fan of counter-trending, but for those who enjoy it, the 4439 zone would be one spot, as would be 4450-55. If 4366 fails, I would consider a breakdown short after at 4362. Level to level profit takes. Wrap Up In summary, we had a great rally yesterday, and now it's time to build a base. My general lean here is that ES can fill out the 4408 to 4366 range. This would then produce another leg up to 4418, 4439, then 4450+. If 4366 fails, we work down the levels, likely to 4325. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
CME_MINI:ES1!
by spytradingpro
10/16 Trading Plan - Friday Recap and Week AheadRecap This week started off with a statistically significant rally, with 4 green days in a row, totaling a 187 point rally from last Friday’s low to this week's high. This made it the largest 4-day green stretch of the year. After 5 red weeks in a row, ES managed to put in its first green week, marking a reversal week. However, after reaching major resistance, ES began a corrective leg last Thursday. The Markets Overnight 🌏 Asia: Down 🌍 Europe: Up 🌎 US Index Futures: Up 🛢 Crude Oil: Up a bit 💵 Dollar: Down a bit 🧐 Yields: Up 🔮 Crypto: Up strongly Major Global Catalysts China’s central bank boots liquidity, leaves rates unchanged. Key Structures There are several key structures to note. The first is the 4477 backtest of the yellow triangle structure that we broke down on September 20th. The next is the 4418-24 backtest of the horizontal line connecting the June 26th low with the August 25th low. The 4377-66 zone represents the downsloping blue trendline connecting the June 26th and August 18th lows. The 4336 pivot is the backtest of the 9-month base we broke out on June 1st. Finally, the 4320-22 is the core bull market uptrend line. Support Levels 4358-55, 4336, 4320-22, 4302, 4277, 4258, 4227, 4200-05. These are the levels that I would consider bidding direct. Resistance Levels 4376, 4387-90, 4406-08, 4418-24, 4444-46, 4462, 4477, 4493-96, 4508. These are the levels where I would look for reactions short. Trading Plan For bulls, the big picture case is in play as long as we are above the core bull market trend at 4320-22. For bears, the case begins on the fail of 4320-22. I don't chase, so my goal is always to get in as close as possible to either a recent high/low, or near a recent base. The best shorts are on bounces or backtests, not on chasing red. Wrap Up In conclusion, as long as 4355-58 keeps holding (4345 on any quick spikes down) I favor ES continues to fill out this new three-day range. If we continue selling deeper, 4320-22 is the absolute lowest bulls can see. A failure there puts a retest of 4250 in play. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision
CME_MINI:ES1!Long
by spytradingpro
16102023 - #SPXOn Friday, I gave a long 4340 for a move to higher and a short 4380 for a move down () . Both trades would have worked out; though eventually, it was the bears who won. As mentioned in my NDX plan, should not have faded the bearish price action of Thursday; as in, probability of a bearish continuation is higher than that of a reversal back up. Weekly price action, however, to me, is still neutral to bullish (green weekly candle, and I have seen times when price just opened and go higher). Also, despite the bearish news over the weekend, market instead gap up instead of gap down. Thus Friday's down move could partly be due to options. Overall IMO, price are above the zones (PZ and DBZ) and within the WBZ and MBZ. If anything, 4360 (previous strong support) would be the level to watch. IMO could see that level trade before market gives a rejection for a move lower, or, possibly, a recovery.
OANDA:SPX500USD
by FadeMeIfYouCan
ES and SPX Trade Plan 10.13.23The primary level yesterday plan was 4430-4450 zone which was expected to be resistance for longer time frames as well as for the intraday session. We could barely do any trading above this level and we traded down into 4400 even before the cash session opened for business. 4400-4410 has even an important level for past few sessions and I expected some support to come in here which was indeed the case as we saw about a 20 dollar rally from this level. Eventually this level broke down, support became resistance and we traded down into 4350 in afternoon. Scenarios for tomorrow While I liked the action at 4430 as a longer term bear, I did not like the bounce from 4350. For tomorrow’s session, both 4380 and 4350 could be important levels..... Trade safe and Stay Frosty! For more info on today Plan link below .
CME_MINI:ESZ2023
by Beyond_Charts
10/13 Trading Plan - Thursday Recap and Looking AheadRecap Yesterday was a volatile trading day, with the CPI data release causing some significant market movements. The initial move down to 4393 was a trap for shorts, followed by a squeeze to ~4418, which trapped longs, and then a significant move lower. This pattern of trapping is common on data days, making them challenging to trade. The past week has been incredibly bullish, with four consecutive green days and a rally spanning 187 points from last Friday's low to yesterday's high. The trigger for this rally was ES reclaiming its 11-month bull market trendline last Friday at ~4315. A key development was the rising wedge pattern that formed and broke down on the 4-hour chart. This bearish pattern indicates increasing momentum to the upside within a narrowing range and decreasing volume, signaling a reversal when the uptrend line is broken. The breakdown from this wedge contributed to yesterday's selloff. The Markets Overnight 🌏 Asia: Down 🌍 Europe: Down 🌎 US Index Futures: Up slightly 🛢 Crude Oil: Up strongly 💵 Dollar: Down slightly 🧐 Yields: Down 🔮 Crypto: Up Major Global Catalysts Inflation fears are still in sight, as Thursday’s data showed an uptick Israel calls for evacuation of Gaza within 24 hours Banks kicked off earnings this morning, with JPMorgan and Wells Fargo topping expectations. Key Structures Several key structures were notable in yesterday's trading. At 4438, we see a backtest to the wedge structure on the daily chart that we broke down on September 26th. The 4416-18 level backtests the horizontal line connecting the June 26th low with the August 25th low, a key breakdown area. The 4377-66 zone represents the downsloping orange channel connecting the June 26th and August 18th lows, a key support level. Support Levels 4377, 4367 (major), 4360, 4352 (major), 4345, 4336 (major), 4318-22 (major), 4302 (major), 4296, 4278-80 (major), 4268, 4255 (major), 4237, 4226 (major), 4214, 4200-05 (major), 4190, 4179 (major), 4160-62 (major), 4153. Resistance Levels 4387-90 (major) 4399 (major), 4408, 4416-18 (major), 4425, 4436-39 (major), 4449, 4453, 4462 (major), 4468, 4473-76 (major), 4488, 4496 (major), 4507, 4515, 4523-25 (major), 4532, 4537, 4542 (major). Trading Plan For bulls, the plan is to see the late day attempted failed breakdown continue to hold. As long as the 4377, 4366 support zone continues to hold, a path higher could develop. For bears, the case begins on the failure of 4366. The goal is to get in as close as possible to either a recent high/low, or near a recent base. Wrap Up Yesterday was a volatile session, with bulls putting in a failed breakdown setup late in the day. This could lead to a tradeable bounce today, with a potential path higher if the 4377, 4366 support zone continues to hold. If 4366 fails, we may see a further retracement. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision
CME_MINI:ES1!
by spytradingpro
Dissecting SPY Price trends With Fibonacci Price TheoryHave you ever wanted to learn the one technique you can use on any chart, any interval, or any technical or price set up to help you become a better trader? Let me show you the basics of Fibonacci Price Theory and how to use it. Price is always seeking new highs or new lows - ALWAYS. You'll hear others talking about price filling voids or moving through accumulation/distribution phases - which is all true. Price moves through these support/resistance levels or quickly through price voids to reach new highs or lows. This is all part of Fibonacci Price Theory. When you learn to understand various intervals using this technique (Weekly, Daily, 30 Min, or others), you'll quickly be able to identify short-term, long-term, and intra-day trends like a pro. It is not about catching every trend reversal/setup. This technique is about teaching you to stay on the right side of trend and to target the Sweet Spot in the middle of breakaway/breakdown trends. Follow my research. Learn how I can help you become a better trader.
FX:SPX500Education
by BradMatheny
Market to suck in die-hard bulls before abrupt reversal?Finally, the SPX rebounded to the level we initially expected it to reach (outlined last Friday). This move was accompanied by a bullish reversal in RSI, MACD, and Stochastic on the daily chart. To support a continuation higher, we want to see these indicators continue to develop bullish structures. However, to support a thesis that this is merely a correction of a prolonged downtrend that began in late July 2023, we would want to see RSI peak below 70 points (which is very common for downtrend corrections). In addition to that, we would like to see MACD fail to break above the midpoint. As for our stance, we continue to wait on the sidelines (for short re-entry if the situation develops as expected). However, at the moment, we still do not feel comfortable to take action. The SPX might continue higher, potentially to the level where it sucks in bulls who start predicting new all-time highs and soft landing, just before an abrupt reversal. If we were to think of such a level, it would be somewhere near $4,450 (coinciding with the breakout above the sloping resistance). Though this is, of course, only a speculation at this point. It is not warranted the market will rebound as high (especially as yesterday’s candle looks somewhat exhausted). Therefore, for minor clues, we will pay close attention to the price’s ability to hold above the 20-day SMA and Resistance 1; a failure to stay above these levels will raise our suspicion and potentially signal a loss of upside momentum. Illustration 1.01 Illustration 1.01 displays the daily chart of BTCUSD and two simple moving averages. The 20-day SMA acts as a support. If the price fails to hold above this level, it will be slightly bearish and raise our suspicion. Technical analysis gauge Daily time frame = Slightly bullish Weekly time frame = Slightly bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
SP:SPXLong
by Tradersweekly
8
10/12 Trading Plan - Wednesday Recap and Looking AheadRecap In the past few days, the SPX has seen a massive uptrend, with Friday marking the single largest range green day of 2023. This was followed by two more rally days on Monday and Tuesday. As predicted, we saw a pullback and consolidation yesterday, with a dip mid-day to 4377. However, this was bought with force, indicating the strength of the bulls. The Markets Overnight 🌏 Asia: Up 🌍 Europe: Up a bit 🌎 US Index Futures: Up slightly 🛢 Crude Oil: Up strongly 💵 Dollar: Up slightly 🧐 Yields: Mixed 🔮 Crypto: Down Major Global Catalysts Inflation prints down slightly from last month but very slightly higher than expectations. Key Structures The price action has several notable structures and levels. At 4438, we see a backtest to the orange wedge structure that we broke down on September 26th. The 4418-24 zone is an important breakdown area that we fell through thereafter. The 4377 level is the downsloping yellow channel connecting the June 26th and August 18th lows. The 4336 level remains a major pivot and the 4316 level is the core bull market uptrend line. Support Levels 4407, 4400 (major), 4390, 4378-80 (major), 4366 (major), 4353, 4347 (major), 4336, 4322, 4316 (major), 4302, 4284 (major), 4274, 4255 (major), 4242, 4236, 4227 (major), 4217, 4213, 4200-05 (major), 4190 (major), 4178, 4163 (major). Resistance Levels 4418 (major), 4424, 4430, 4439-42 (major), 4453, 4462 (major), 4473 (major), 4488, 4497 (major), 4507, 4515-20 (major), 4533, 4542 (major), 4549, 4556-61 (major), 4575 (major). Trading Plan The bulls are in control. Trade accordingly. Wrap Up In summary, the bulls are firmly in control as long as we stay above the 4316 core uptrend line. A loose guess would be that if we can continue holding the above-mentioned supports, we could continue higher to 4439-42, 4462, then 4472. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision
CME_MINI:ES1!Long
by spytradingpro
10/11 Trading Plan - Tuesday Recap and Looking AheadRecap In the past week, we saw a significant technical shift with ES reclaiming the 4310 level, its core bull market trendline from October 2022. This put the bulls back in control and corresponded with the start of bullish October seasonality. The week had straightforward trading, with the market pulling back to the 4310 level before triggering a two-day rally of over 100 points. The rally was driven by the confluence of a failed breakdown on Friday and the reclaiming of the year-long trendline. The Markets Overnight 🌏 Asia: Up 🌍 Europe: Up slightly 🌎 US Index Futures: Up a bit 🛢 Crude Oil: Down 💵 Dollar: Down slightly 🧐 Yields: Down a lot 🔮 Crypto: Down slightly Major Global Catalysts IMF projects soft landing for global economy. Key Structures The market is currently +175 points from Friday’s low, without a minor retracement. Key structures to note are 4472, 4418-24, 4377, 4336, and 4315. These structures are not comprehensive but are major ones to take note of. Support Levels 4389-93 (major), 4377-80, 4366-63 (major), 4347, 4336-38 (major), 4322, 4315 (major), 4302, 4289, 4276-78, 4268, 4258, 4250-54 (major), 4235, 4228 (major), 4220, 4213, 4200-05 (major), 4190 (major), 4177, 4163-65 (major). Resistance Levels 4404, 4418-24 (major), 4436, 4438-42 (major), 4457, 4473-75 (major), 4488, 4496-4500 (major), 4507, 4515 (major), 4526, 4531 (major), 4537, 4543 (major), 4549, 4556 (major). Trading Plan For today, I anticipate a period of messy, tactical, level-to-level consolidation/pullback. While a 3rd large uptrend day is possible, it's becoming less likely. I will be looking to give price a day or two to show some price discovery and build structure for its next leg. The first notable support on the downside is 4366-63. If we get down there, I’d consider bidding. One could also try the 4377-80. Wrap Up In summary, the past few days have seen clean, A+ uptrend, and traders have been very spoiled. Today, I anticipate a pullback and consolidation to work off the recent rally. Ideally, this would be something like 4377 or 4366 lowest. From there we can continue back to 4418-24, and break there starts the next leg to 4472, which remains the magnet. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision
CME_MINI:ES1!Long
by spytradingpro
10/10 Trading Plan - Monday Recap and Looking AheadRecap Friday was a significant day for the ES, with it reclaiming its core bull market rising trendline from the October 2022 lows at ~4310. This week began with a significant gap down due to weekend headline catalyst out of the middle east. However, the action at the open demonstrated just how powerful simple technicals remain even in the face of geopolitical headline risk. The Markets Overnight 🌏 Asia: Up but Mainland China down 🌍 Europe: Up strongly 🌎 US Index Futures: Very near unchanged 🛢 Crude Oil: Down slightly 💵 Dollar: Down slightly 🧐 Yields: Down 🔮 Crypto: Down a bit Major Global Catalysts Israel promises all out war against Gaza. IMF raises US growth forecast. Key Structures The core rising trendline from October 2022's low is of utmost importance. The market agrees - Last Tuesday, it finally failed after 3 tests in the prior week causing a deep flush to 4235. Last Thursday, we backtested the line twice from below and rejected. Last Friday, it finally reclaimed, causing a monster short squeeze and putting bulls back in the drivers seat. Support Levels 4366, 4348 (major), 4336 (major), 4323, 4310-15 (major), 4302, 4291 (major), 4278, 4268, 4254, 4247 (major), 4238, 4225-30 (major), 4213, 4205 (major), 4195, 4190 (major), 4175, 4165 (major) Resistance Levels 4375-80 (major), 4388, 4400 (major), 4418-24 (major), 4439, 4446, 4458, 4472 (major), 4488, 4497, 4507 (major), 4515 (major), 4522, 4530, 4542 (major), 4550, 4556 (major). Trading Plan The bulls are back in control as long as 4310-15 holds. Ideally for bulls though, ES could build a new consolidation range, between something like 4375-80 and 4336 and play ping pong in this range. For the bears, 4310-15 needs to fail for any proper bear case and fail there would start the leg to 4278 then 4247. Shorter term, 4336 fail would also likely present a good short. Wrap Up After two weeks of relentless selling, ES has reclaimed its core bull market trendline and held it yesterday, squeezing massively. The question now is whether there will be more follow-through. The key level to watch is 4310 - as long as this holds, the bulls are in control. However, a break below this level could signal a new leg down. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
CME_MINI:ES1!Long
by spytradingpro
10/9 Trading Plan - Last Week Recap and Looking AheadRecap Last Friday, we witnessed a bullish breakout in ES. The movement was anticipated and played out well, running over 100 points from the day's low right to the final target of 4348 and beyond. The ES reclaimed its core bull market trendline from October 2022, which was necessary to set a low. The Markets Overnight 🌏 Asia: Mixed 🌍 Europe: Down 🌎 US Index Futures: Down but stable 🛢 Crude Oil: Up very strongly 💵 Dollar: Up 🧐 Yields: Closed for Columbus Day 🔮 Crypto: Down Major Global Catalysts Israel-Gaza war raises global tensions amid knee-jerk reaction from financial markets. Key Structures Zooming out, ES accomplished a couple of things last Friday: It put in a failed breakdown and reclaimed its core trendline from October 2022. This means for next week, bulls firmly control as long as we are above the 4310 (4295 absolute lowest) zone. Support Levels 4348 (major), 4336, 4322-25 (major), 4310-08 (major), 4295, 4290, 4278-80 (major), 4265, 4254, 4245 (major), 4227-29 (major), 4213-16, 4205 (major). Resistance Levels 4348 (major), 4358, 4366, 4377-80 (major), 4388, 4400-05 (major), 4418-24 (major), 4438 (major), 4448, 4455, 4463 (major), 4472 (major). Trading Plan For today, I will be sitting back and letting price discovery play out. My general lean is we can see some retracement/pullback, then ultimately head up to 4366, 4377-80. Likely dip there. Bulls cannot see lower than 4310-13 on any dip though. If we get a good tradeable bounce at 4310-13 though, followed by acceptance of the zone, something like 4304 may represent a higher risk breakdown entry trade. Wrap Up Bulls stepped in on cue last Friday reclaiming the core rising trendline from 2022s low. Predictability after a large move like this is very low, and I will be sitting back today and letting price discovery play out. My general lean is we can see some retracement/pullback, then ultimately head up to 4366, 4377-80. Likely dip there. Bulls cannot see lower than 4310-13 on any dip though. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision
CME_MINI:ES1!
by spytradingpro
#ES Day Trading Prep Week 10.01 - 10.06Level : Current Balance 4378.50 - 4321.50 Resistance 4349.50 - 45.25 // 4362.75 - 59.50 Key Resistance 4378.50 - 74.75 Targets if accept over 4389.75 - 92.25 Area to accept over for continuation to VAL Support 4327.25 - 21.50 Key Support 4310 - 07.25 Targets if can get through HTF Support 4291.50 - 85.75 // 4272 - 65.50 Would need to accept under for any continuation towards the GAP under 4250. Last Week : Marked opened and consolidated around the Edge area with a test and fail over it which gave us a nice move towards lower targets for the week filling Contract Roll Gap and testing HTF Key Support top which provided a nice bid and pushed the market back into the Contract Roll Gap area which was market off as potential place to either bounce or find Support at and so far we have built up inside it and failed to take it out again on Friday. This Week : This might be a tricky week, we have made a big move lower since the start of the move from week 9.17 - 9.22, we had balance extension x 4 to get here and so far looks like might have found new Current Balance maybe at least for short term to do some cleaning ? It is a start of a new month and we do have market moving data and events this week so we will have to see if we actually stay in this 4378.50 - 4321.50 Balance or not. I would think we could at least hold within until mid week or so to build up some more structure to show us the way. If Balance : We are looking to spend some time in this 4378.50 - 4321.50 area and trade with in our Resistance areas are 4349.50 - 45.25 // 4362.75 - 59.50 Key Resistance 4378.50 - 74.75 Support in this 4331.50 - 27.25 - 21.50 areas ? Would need to accept Over/Under Key Resistance / Current Support areas to try and move out of balance. For More Downside : To see more downside ideally we would want to build up more over 4327 - 21 and then get a break / continuation towards Key Support at 4310 - 07.25 area which would be the spot to watch for more continuation and we could target HTF Support high and possibly low with targets at 4291.50 - 85.75 // 4272 - 65.50 this would be spot to get through to try and target lower Gap area under 4250. We would need either more supply build up or selling volume to get us to those areas this week. If heavy volume could see 4240 - 30 - 20s area. For Upside : To see upside from here we would want to build up in this range and start taking out Resistance areas to make a run at the Edge and 4378.50 - 74.75 would be Key Resistance to watch acceptance over to be able to target 4392.25 and VAL area above. We would need either a strong bid or run out of selling above 4370s in order to try and continue higher this week.
CME_MINI:ES1!
by HollowMn
S&P500 on the way to the projected levelHere we are, seeing the projection I posted on my site and here becoming reality. P4 was slightly above the Center-Line. How price is falling through it. Next Target is P5. Either the Warning-Line, or the Lower-Medianline-Parallel. In between I expect a bounce up to the Centerline. Also, keep in mind that we could get a HAGOPIAN! That means, if price is not reaching the L-MLH, and pulling back above the CL, then possibilities are up for a huge move to the North. I took partial profits as shown in my last video on YT today. The rest is riding down to one of the targets. Steak & Lobster Baby! §8-) Wish you all a happy day.
CME_MINI:ES1!Short
by Tr8dingN3rd
10/6 Trading Plan - Reviewing Wednesday and Looking AheadRecap Over the last week, I've consistently referred to a single trendline in ES - the core bull market trendline from October 2022 in the low 4300 area. This week, almost every significant move was related to this simple trendline. On Tuesday, we saw a hard sell on the failure of it, triggering a deep sell to 4235. However, on Wednesday, we rallied to 4304 high of day. Key Structures 4377-80: The downsloping channel is connecting the June 26th and August 18th lows. 4336: A major pivot that connects the September 2022, Feb 2023, and June 2023 highs. 4308: The core bull market uptrend line in green. 4254-58, then 4227-31: Major levels below 4308. 4212-05: A critical level below 4227. Support Levels 4290, 4279-83 (major), 4269, 4254-58 (major), 4242, 4227-30 (major), 4212 (major), 4206, 4190 (major), 4175 (major), 4166, 4154 (major), 4144, 4133, 4127 (major), 4109 (major), 4100, 4093, 4075-80 (major). Resistance Levels 4296 (major), 4308 (major), 4314, 4320 (major), 4336, 4348 (major), 4355, 4366, 4377-80 (major), 4386, 4400, 4411, 4418, 4425 (major), 4439, 4450 (major), 4460, 4467, 4473 (major), 4480, 4496, 4507 (major), 4513 (major). Trading Plan The bullish setup here is that this entire range between 4296 and 4258 or so is a large consolidation to set up a fresh trend leg higher. The bear case would be that the stubborn 4254-58 needs to fail for there to be any true bear case. My goal is always to get in as close as possible to either a recent high/low, or near a recent base. Wrap Up Today, we have the Non-Farm Payrolls report, which adds a massive “wild card” to the price. My general lean though is that 4296-54 is a range to set up a move higher. This new leg should target 4320, 4336 then 4348 at least. Should 4254 fail though, then ES probably needs a new low and I would expect it to tag 4230 at least. There is high uncertainty here, and I’ll be reacting as per the above plan. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision
CME_MINI:ES1!
by spytradingpro
10/5 Trading Plan - Reviewing Wednesday and Looking AheadRecap Yesterday played out almost perfectly in ES. We had a big short squeeze after a final overnight flush, confirming our plan from the previous day. The final flush hit the 4230s, it defended, and then we saw a large squeeze to the 4304-08 final target. Today, we backtested the big multi-month support zone and ES put in a good green day with a large wick. The question now is whether the bulls can manage a second consecutive green day. Key Structures 4336 remains a major pivot and a battleground zone/magnet. 4308-13 is the core bull market uptrend line. It failed yesterday after 3 tests, and is now the new bull/bear line. 4254-58 and 4227-31 are major levels below there. Support Levels 4287-91 (major), 4278, 4269 (major), 4254-58 (major), 4240, 4227-30 (major), 4220, 4212, 4205 (major), 4190 (major), 4175 (major), 4166, 4153 (major), 4146, 4135, 4128 (major). Resistance Levels 4308-13 (major), 4322, 4335, 4349-54 (major), 4366, 4377-80 (major), 4385, 4400, 4418, 4424 (major), 4433, 4440 (major), 4453, 4460, 4470-73 (major). Trading Plan Bull case: Bulls will need to defend supports on any dip off this zone. Ideally, this would be 4290ish, with 4267 being lowest. Below there, it is probably we need another leg down to a new low at 4230 before any sustained low can be set. Bear case: In order to see new lows tomorrow, 4354-58 must fail. A few options to trade this - one could front run it by trading the fail of 4269. The alt is waiting for 4254 to fail and shorting at 4252 or so. Target is 4230. Wrap Up We are at a major decision point now and the price discovery here overnight and tomorrow will be key. My general lean if I had to provide one is that ES can go for green day #2 tomorrow. This will likely start with a dip first though, and bulls will need to defend that 4269 lowest. Next targets up are 4313, 4322, then back to the big 4336 level. If 4269 fails, its a warning that we need a new low. React, don’t predict. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision
CME_MINI:ES1!Short
by spytradingpro
1