Get started

ES

Plan Your Trade 6-25-24 - Base Rally DayThis video continues my series on planning your trade around my SPY Cycle Patterns. Today is a Base Rally pattern. I suspect the price will attempt to climb above $544 and may attempt to rally above $550 over the next few days. This is an excellent opportunity for traders to swing for the fences with long trades. Time your entry. If the price fails to rally above $544 in early trading, we may see a strong rally later this afternoon. Tomorrow is a Breakaway pattern in counter-trend mode. I suspect we'll see a bit of a downward price swing tomorrow after today's strong rally. Then, another push to try to rally above $550 on Thursday. Plan your trade. Learn how I can help you stay ahead of these bigger price swings.
AMEX:SPYLong
by BradMatheny
2
Plan Your Trade 6/24/24 - Prepare For Rolling Price ActionThis continued video series focused on my SPY Cycle Patterns teaches you how to plan for future price swings and bigger trending days. Today, I expect the SPY to stay relatively muted in trend—possibly moving downward overall. The Up-Down-Up (countertrend) pattern suggests that the price will want to move downward today, perhaps setting up support near $541.50 to $542.50. I don't expect anything big to happen today as today's pattern is followed by three days of an upward price trend. That upward trend is your opportunity for profits. Tuesday, Wednesday, & Thursday look like a bigger opportunity for long trades than Monday or Friday. Friday's CRUSH pattern suggests a fairly strong downward price trend. I would be cautious of taking long positions on Friday until possibly the last 60-120 min of the day (if we see a short squeeze setup). Please use this information efficiently. I'm trying to show you how to use my SPY Cycle Patterns to plan your trading and find the best opportunities. I will have more info tomorrow as I continue this video series.
AMEX:SPYShort
by BradMatheny
Plan Your Trade 6/21 - SPY Cycle PatternsPlan your trade to prepare for future price moves using my proprietary SPY Cycle Patterns. This is a continuing video series related to my proprietary SPY Cycle Patterns. These unique patterns highlight potential price moves/trends weeks and months in advance. I wanted to highlight the next 15+ trading days on the charts and track these potential setups to see how closely my expectations translated into price moves. About 3+ days into this experiment, we should see a Top/Resistance price trend today. This is usually where the price attempts to rally upward to a peak, then rolls downward, seeking a new base/bottom. Follow my research and learn how to Plan Your Trades more efficiently.
AMEX:SPY
by BradMatheny
Learning To Plan Your Trade With SPY Cycle PatternsDid you watch my SPY Cycle Pattern video this morning? Were you aware that today was designated a Harami-Inside type of price action? This type of pattern represents a very narrow, often trendless, trading day. I warned all of you before the market opened that today would be a day to sit back and wait for the market to show us whether it wanted to trend or not. Obviously, there were some quick pullbacks and trends—but nothing very big. If you had stayed out of the market most of the day, you probably would have been happy avoiding the chop. Tomorrow is a big CRUSH pattern. These patterns are usually fairly large price range bars that often move against the 3~5 bar trend - in this case, downward. This video covers the next three weeks of trading in the SPY and shows how I read the SPY Cycle Patterns as "sentences" related to how prices will react and move (including trends and ranges) going forward. Of course, nothing is 100% perfect when predicting future price trends. But I think you'll find real value in the SPY Cycle Patterns and how they can help everyone prepare for the type of price action to expect. Plan your trade. Use all the tools required to help you make better decisions. Remember, trade only when the market provides opportunity and efficient price trends. I'll keep updating these videos for all of you over the next few weeks. Let's go make some money as the markets trend into Q2:2024 earnings.
AMEX:SPYLong
by BradMatheny
Plan your trade for 6/18/24 - SPY researchHere is another video to help you prepare for the next 2+ weeks of trading in the US markets. Using my specialized SPY Cycle Patterns and technical analysis, I still see the markets consolidating in a melt-up type of trending over the next 2+ weeks before moving into a strong rally phase near late June/early July. You can see how my SPY cycle patterns help into understand opportunities and when to prepare for more aggressive trading. Today is a Harami-Inside pattern - meaning I will be mostly sitting on the sidelines today. Maybe targeting one or two quick trades. But tomorrow and the rest of this/next week look very solid for more moderate/aggressive trading in bigger price trends. And, I'm going to start preparing for the RALLY, RALLY, RALLY phase near July 1, 2024. Learn how my specialized research can help you. Learn the Mechanics of Trading. Let's go get'em.
AMEX:SPYLong
by BradMatheny
Plan Your Trades - SPY Research For 6/17 & BeyondI put together this video to help traders plan and prepare for the next 30-60+ days - as we move into Q2:2024 earnings and pre-election consolidation. Every week, I spent hours going over my Custom Indexes, proprietary price modeling systems, sector analysis, and more. My goal is to help as many traders as possible prepare for the greatest opportunities of their life (the next 5 to 10+ years). I see so many traders getting trapped into following free or paid internet advice and blowing up their accounts. In my opinion, stick to the basics. Price is the ultimate indicator. Then, determine the true bias of price trend and identify strong candidates to profit within that trend. If you are a daytrader - you probably won't like my research/comments. I don't really daytrade much. I'm more of a swing trader - looking for 8% to 25% swings that take 3 to 20+ weeks to mature. Either way, this video will help you understand what to expect over the next 30-60+ days in the US/global markets. Prepare for a big move in late June or early July.
AMEX:SPYLong
by BradMatheny
2
#ES_F Day Trading Prep for Week 6.09 - 6.14Last Week : Last week it looked like we found balance inside the Value of 5368 - 5207 Range and I was early trying to call a potential Intraday balance range to be spending time around, instead market pushed back into VAH which was the spot where many were shorting the first time around and most likely the spot where a lot were shorting on that move inside Tuesday Globex/Wednesday RTH expecting a bigger move down but instead market failed to get back under VAH and pushed out trapping and squeezing shorts into the upper Edge again. We spent Thursday and Friday Globex building Supply inside it which got flushed back down under the Edge and Key area of 5341 - 36 but that was all the supply we had for now and we were able to get back inside 5386.50 - 36 Intraday Range and find balance inside it as we pushed above the Edge hit Key area and came back inside the Means of the range to close inside the Edge. This Week : Maybe this will finally become our range to find longer term balance in ? Market has been ripping up and down through intraday ranges back and forth without spending too much time in each, it has been a while since we had longer term balancing action and after big moves and everyone getting used to expansions to the upside and downside I think Market needs that and has been looking for a place to do that. Of course we have to be careful and adapt if things change but so far what the structure is showing us is that we are at ATH and at Key HTF Area, we don't have strong size buyers up here who want to keep pushing us higher as we saw from fails at and over this 5368 area, we can see that buyers most likely put together their cost inside lower Value above VAL after we flushed it and came back in, meaning here smart long will be sellers but for now this is the only supply that we have since are at ATH which means for any bigger back fills or moves lower we either need SIZE sellers which we might not get up here since its Summer time and they don't see any structure or build up of enough supply which they could later use to cover lower with if they would sell up here since market ran out of Supply lower. IF this is the case then this will potentially be our Balance area here between above VAL and VAH of lower HTF Range, this tells us that any moves to or under Key Supports could find their way back inside the Edge and moves above the Edge top and above 5386 - 81 Key Resistance that don't find acceptance in or above VAL would find their way back inside the Edge as well. We are in a new month and this area could be our balance for some time, and we have to be careful with looking for too much continuation above or below these areas for time being. To see acceptance higher we would need to see market build up over Edge top and take out VAL and balance around 5397 - 5412 area without coming back in, and to find acceptance lower again we would need to be able to hold under Key Support and push back into VAL without coming back over, until then will be looking to trade 5386.50 - 36 Intraday Range. Levels to Watch : Current Range 5386.50 - 5336 5386.50 - 81.50 Key Resistance 5356 - 52 // 5370.50 - 66.50 Means - where price will want to keep returning towards and balance between 5341 - 36 Key Support IF Accept over Key Resistance, range is 5432 - 81.50 5432 - 27 Key Resistance 5401.50 - 5397.50 // 5416 - 12 Means IF Accept under Key Support, range 5341 - 5290.25 5324.75 - 20.75 // 5310.50 - 06.50 Means 5295.50 - 90.25 Key Support
CME_MINI:ES1!
by HollowMn
SPY Rallying to $608+. Are you ready?My research suggests the SPY will quickly rally above $560 and continue higher to breach $608 (a 100% Fibonacci measured move) before the end of August. The Q2:2024 earnings data and continued US economic strength will drive capital investments in US equities over the next 3+ months. Traders continue highlighting the risks related to US banking issues and the related downside price concerns. I also share these concerns - but continue to follow the price action simply. My analysis suggests the SPY will attempt to rally to levels close to $605+ before finding any major resistance.
AMEX:SPYLong
by BradMatheny
#ES_F Day Trading Prep Week 06.02 - 06.07Last Week : Last week market opened up outside of Value, build some more supply then started the correction lower, we were able to move down to VAL where we found our first Support where we were able to do some covering but eventually we broke, held under and go continuation towards the Lower Edge, we were able to test its bottom where we ran out of Supply and got a sharp reversal back inside Value for a big move from VAL to VAH. This Week : Going into this week if we look at Structure we can see we did a look below VAL and fail which gave a return trip to VAH which we tagged, build more supply under and Failed which gave another round trip back to VAL and this time we tagged Key Support at 5249.75 - 44.75 and it acted as proper Key Support giving another big bounce all the way back towards Key Area and as we can see end of day push over 5295.50 - 90.25. Globex consolidated over Key Area but was not able to hold and we got a flush back inside the Means of 5295.50 - 44.75 Range. This to me screams balance, and I think market will want to stay around these areas going forward until we will build up enough supply to accept under VAL or get stronger buyers to give us acceptance over VAH. My bias is that we might not see higher prices over 5320-40s for some time but of course we never know and have to trade what market gives, for now I believe this current intraday range can finally become our balance range which we haven't gotten in some time, we have been moving ranges back and forth without spending too long in each and I think its about time we get some good balance action that can last a while. The way I will be trading this we have our intraday range means at 5279.25 - 75.25 // 5264.75 - 60.75 this is the area where price might want to keep returning back into, pushes out of them can go towards the Key Edges of 5295.50 - 90.25 as our Resistance and 5249.75 - 44.75 but this is the time to be careful with looking perfect tags or too much continuation outside of Key Edges because if we have found balance we will look for any pushes out of the Means to return back either from failures at/above/below Key Support/Resistance or we could even see pushes out of means that will consolidate above/below without tagging Key Edges and then return back in, and when price is between this will be our balance/build up area. Will continue trading this range until we can see clear acceptance Over or Under Key Support/Resistance and holds over/under VAH/VAL. Levels to Watch : Current Range 5295.50 - 5244.75 Means 5279.25 - 75.25 // 5264.75- 60.75 Key Resistance 5295.50 - 90.25 Key Support 5249.75 - 44.75 IF we do happen to leave balance and accept under/over the ranges would be Above : 5341 - 36 Key Resistance 5324.75 - 20.75 // 5310.50 - 06.50 Means 5295.50 - 90.25 Below : 5234.25 - 30.25 // 5219.75 - 15.75 Means 5204.25 - 5199.75 Key Support
CME_MINI:ES1!
by HollowMn
#ES_F Day Trading Prep Week 5.28 - 5.31Last Week : Last week Market opened over VAH and spent all week building Supply over it, as discussed in Sunday Prep since we were at ATH with no over hang we needed to wait for Supply to build up for any meaningful back fill of previous areas and that 5341 - 5290 might be our Range where price will want to stay around and keep returning into for some time while it builds that Supply. On Thursday we ended up pushing inside the Edge but failed to find acceptance in it and the push back out gave us the flush of the inventory filling the buyers into the Value, even with how strong the move looked with break/hold under Key Support on Friday Globex failed to hold under it and we found our way back inside 5341 - 5290 Range where we were able to push back into the Means for the Range where we closed the week in VAH. This Week : Few things this week, we have Month End, Settlement changes from T2 to T1 which we don't know just yet how that will impact the trading and we had Holiday yesterday which pushed us over VAH and we are again building up Supply over it. For now we are inside T2 Range which was Thursday I believe the change goes in effect Today or this week, we are right around Previous Days Range and 5341 - 36 already showed us this morning that it's acting properly as good Resistance. So far going into this week Thursdays flush showed us that don't have stronger buyers up here just yet who want to keep paying over Value and keep pushing us into new range above and that even with strong flush we didn't have enough Supply to accept under 5295 - 90 to continue filling more buyers into VAL. This tells me again that market may want to stay in this 5341 - 5290 Intraday Range and balance around it, we have to be ready to spend quite a bit of time in these areas and trade around them until market will show us clear acceptance and intensions of moving Ranges and that can take some time because we are in a Key Spot on higher time frames we are at tops of Daily/Weekly Balances without finding acceptance above and without having the Supply just yet to move under the Middle of those balances which is around the 5290-80s area. Plan is to continue trading 5341 - 5290 Range level to level just like last week with moves out of its 5324.75 - 20.75 // 5310.50 - 06.50 Means and then returns back towards/inside them. Failures to accept over 5341 - 36 will likely find their way back to/under 24.75 - 20.75, pushes under 5310.50 - 06.50 could also be absorbed under and find their way back to/over 10.50 - 06.50 and inside the Means we could balance. We are in lower volume times so also have to give time for the moves to properly set up and be ready to correct back. Levels to watch : Current Range 5341 - 5290.25 5341 - 36 Key Resistance 5324.75 - 20.75 // 5310.50 - 06.50 Means for the Range 5295.50 - 90.25 Key Support If Accept over 5341 - 36 next Range 5386.50 - 5336 5356 - 52 // 5370.50 - 66.50 Means and Edge Top 5386.50 - 81.50 Key Resistance If Accept under 5295.50 - 90.25 lower Range 5295.50 - 5244.75 5279.25 - 75.25 // 5264.75 - 60.75 Means and VAL 5249.75 - 44.75 Key Support
CME_MINI:ES1!
by HollowMn
Trading Plan for Friday, May 24th, 2024Trading Plan for Friday, May 24th, 2024 Market Sentiment: Uncertain, as the market has transitioned from a rally to a short-term dip. Bulls are attempting to defend key supports, while bears are looking for further downside continuation. Key Supports Immediate Supports: 5265 (major), 5253 (major) Major Supports: 5230-35 (major), 5202 (major), 5177 (major) Key Resistances Near-term Resistance: 5293 (major), 5302 (major) Major Resistances: 5317 (major), 5380 (major), 5400 (major) Trading Strategy Post-Rally Dip: The market is now in a short-term dip after a prolonged rally. Exercise caution and avoid chasing longs or shorts. Long Opportunities: Look for a bounce and reclaim above 5274 for potential long entries. Consider failed breakdowns at 5265 or a dip and reclaim at 5230-35 for more aggressive long entries. Short Opportunities: Consider shorts at 5317 (if the market rallies strongly) or on failed breakdowns below 5265 after a bounce/retest. Exercise caution and take profits level-to-level. Focus on Reactions and Price Discovery: Wait for confirmation signals and clear reactions at key levels before committing to any trades. Bull Case Defending Support: Bulls need to defend the 5265-72 zone to prevent further downside and maintain the possibility of a bounce. Reclaiming Resistances: If bulls reclaim the 5293 and 5302 levels, the dip could be considered over, opening up a potential move towards the previous highs. Bear Case Breakdown Signals: A convincing break below 5265 could trigger further selling, targeting 5230-35 and potentially deeper levels. Look for bounces/failed breakdowns at these levels for potential short entries. News: Top Stories for May 24th, 2024 📈 U.S. Durable Goods Orders: The latest data shows an unexpected increase in April, suggesting resilience in manufacturing despite economic headwinds. 🌍 Geopolitical Tensions and Their Economic Impacts: Recent surveys indicate that geopolitical risks are a top concern for global family offices, with significant implications for asset allocations in North America and Asia Pacific. 🛡️ Shifts in Safe Haven Assets: In an environment of growing debt concerns, investors are increasingly turning to gold over traditional government bonds, marking a significant shift in safe haven preferences. 🌎 Climate Change and Economic Impact: A session at the 10th World Water Forum highlighted the severe economic repercussions of climate change and water scarcity in Laos, underscoring the urgent need for sustainable water management solutions. 📊 Global PMI Data Releases: The release of the S&P Global Services and Manufacturing PMI reports provides critical insights into the economic conditions of the services and manufacturing sectors, which are key indicators of overall economic health.
CME_MINI:ESM2024Long
by spytradingpro
#ES_F Day Trading Prep Week 5.19 - 5.24Last Week : Last week Market opened under the VAL of this 5368 - 5207 HTF Range with our Sellers being in Value/VAL and Cost Basis/Supports at the lower Edge. We spent few days consolidating between VAL and the Edge with a move on Tuesday that first failed to hold under 5230s pre market and then afternoon push over VAL trapping the shorts under Value. Wednesday data brought in Volume and market continued higher through next Key Area putting the squeeze on and pushing us in/through VAH, from there one more target was left to test the Edge and see if we push through it and accept or we get a response in opposite direction, discussed last week before the tag that first tests of these bigger HTF areas often provide good response in opposite direction which gave us a tag/ supply build under Edge and a move back to VAH with Friday closing the week with filling the buyers with that Supply around VAH. This Week : Few things we know so far going into this week, of course depending where we will open and what we do in Globex but for now we are inside 5341 - 5290 Intraday Range, we are inside T2 Range with buyers in/under VAH and Trapped Supply/Sellers still could be over 30s and closer to the Edge Bottom of 5348. So far it looks like market has chosen 5368 - 5207 to be our HTF Range going forward until we will be ready to move out of it again which tells me we may spend time balancing around it back and forth while we distribute and fill orders as we will have buying and selling in it from Trapped Shorts and Trapped Longs/New Longs who will be looking for continuation out of this Range. For us to see continuation higher out of this HTF Range we would need to either build a base under the Edge bottom or see a strong bid through it trapping more sellers under AND start balancing over 5256 - 52 area without coming back in, until then holding under the Edge will mean weakness BUT it doesn't mean we will just sell back down that easily as well, we have to consider that we are at ATH with no overhang above us and no real Volume built up here just yet that would give us stronger moves lower. With that in mind there is a chance that we might spend some time in and around this current Intraday Range of 5341 - 5290.25 building that Supply. As been mentioned over last few weeks, have to be careful of smaller ranges and quicker/smaller moves, especially now that we might have both sides starting to be trapped and looking to be trading in and out of their size around here. IF Volume does come in and we accept back inside the Value and start holding under VAH we could see a move all the way back towards VAL to fill in the buyers in those areas, our Size Shorts would be trapped in Value and under VAL where we could expect absorption if we get there but careful as it could take time there as well. IF we don't get the Volume to push us through the above Edge or the Volume to give us acceptance and continuation under 5295.50 - 90.25 Key Support then we could spend quite some time around this 5341 - 5290 Intraday Range with pushes out of it being bought or sold back inside it. Levels to Watch : Current Range 5341 - 5290.25 5341 - 36 Key Resistance 5324.75 - 20.75 // 5310.50 - 06.50 Means for the Range 5295.50 - 90.25 Key Support If we are to just balance around this intraday range then we could see pushes out of the Means towards Key Areas and then returns back towards/into the Means, this is what I will be watching for unless it shows acceptance under/over Key Areas. If Accept over 5341 - 36 next Range 5386.50 - 5336 5356 - 52 // 5370.50 - 66.50 Means and Edge Top 5386.50 - 81.50 Key Resistance If Accept under 5295.50 - 90.25 5279.25 - 75.25 // 5264.75 - 60.75 Means and VAL 5249.75 - 44.75 Key Support
CME_MINI:ES1!
by HollowMn
Trading Plan for Wednesday, May 22nd, 2024Trading Plan for Wednesday, May 22nd, 2024 Market Sentiment: Bullish, consolidating within a tight range. Expecting a breakout, but with heightened anticipation due to Nvidia's upcoming earnings after the bell. Important Note: Nvidia earnings after the bell could significantly impact market direction and volatility. Be prepared for potentially large, unpredictable moves. Key Supports Immediate Supports: 5335 (major), 5329, 5322 (major), 5307 Major Supports: 5300-02 (major), 5272-68 (major), 5235-40 (major), 5217-21 (major) Key Resistances Near-term Resistance: 5346-49 (major), 5369 (major), 5401-03 (major) Major Resistances: 5412-15 (major), 5438 (major), 5472-76 (major) Trading Strategy Nvidia Earnings Watch: Exercise caution and be prepared for significant volatility following Nvidia's earnings announcement. Consolidation Breakout: The market is coiling up for a potential explosive move. Focus on the 5302-5347 range for a potential breakout in either direction. Long Opportunities: Look for bids at 5329, 5322, or 5300-02 if they hold after potential tests. Consider taking profits level to level, especially given the heightened risk environment. Short Opportunities: Avoid shorting green candles and breaking trends, as the win rate is typically low in such scenarios. However, for those comfortable with counter-trend trades, monitor 5412-15 as a potential shorting zone if price rallies significantly after earnings. Bull Case Bull Flag Breakout: The current consolidation range could be interpreted as a bull flag. An upward breakout above 5347 would target 5369 and 5401-03, potentially leading to a strong upward move. Holding Support: If the 5322 support level holds, expect further consolidation and a potential breakout later. Bear Case Breakdown Signals: A convincing break below 5302 would trigger a deeper retracement, potentially retesting the 5272-68 (major) and 5235-40 (major) zones. Shorting Opportunity: If 5302 is tested and followed by a bounce and acceptance of lower levels, consider entering a short position around 5299 for a level-to-level move down. News: Top Stories for May 22nd, 2024 🌐 IMF Highlights Cybersecurity Risks to Financial Stability: The International Monetary Fund (IMF) has issued a warning about the increasing threat of cyberattacks, which pose a significant risk to global financial stability. This underscores the need for enhanced cybersecurity measures across the financial sector. 🏦 Federal Reserve's Cautious Stance on Inflation: Minutes from the Federal Reserve's latest meeting reveal a cautious approach towards inflation, with officials prepared to adjust interest rates if economic data warrants. This has implications for future monetary policy and market expectations. 🌍 Global Trade Prospects Brighten: Reports from the IMF, WTO, and OECD suggest a rebound in global trade, driven by easing inflation and a robust U.S. economy. This recovery follows a slowdown in 2023, with significant implications for global economic growth. 📊 Economic Outlooks and Forecasts: Various economic outlooks from entities like J.P. Morgan and Deloitte provide insights into future economic conditions, highlighting the ongoing adjustments in response to geopolitical risks, inflation concerns, and policy shifts. These forecasts are crucial for strategic planning and investment decisions.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Wednesday, May 15th, 2024Trading Plan for Wednesday, May 15th, 2024 Market Sentiment: Bullish, consolidating within a tight range after a strong rally. The market could continue to build out a bull flag pattern or break out directly to new highs. Key Supports Immediate Supports: 5329 (major), 5318 (major), 5302-04 (major) Major Supports: 5272-74 (major), 5236 (major), 5208 (major) Key Resistances Near-term Resistance: 5347 (major), 5365-67 (major), 5386-89 (major) Major Resistances: 5404-07 (major), 5450 (major) Trading Strategy Chop Zone Management: The market is consolidating within the 5302-5347 range, with an even tighter range of 5329-5347. Avoid overtrading and focus on level-to-level scalping for small gains. Long Opportunities: Look for a bounce and reclaim above 5317 if the 5309-11 area is tested. If the market dips lower, consider longs at 5302-04, 5272, or 5287 (major). Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, 5342-47 may offer a potential dip, but proceed with extreme caution. Bull Case Bull Flag Continuation: The market may continue to build out the 5309-5342 bull flag pattern, potentially breaking out for a new push into all-time highs (ATHs). Target 5359, then 5375-77 in this scenario. Consolidation and Breakout: If the market consolidates within the 5329-5347 range and breaks out above 5347, it could target the resistances mentioned above. Adding on Strength: Monitor overnight action for potential flagging below 5219 as a possible entry point for adding to long positions. Bear Case Breakdown Signals: A convincing break below 5302 could trigger a deeper retracement, potentially targeting 5272 and lower. Entry Points: Look for a bounce attempt and rejection at 5302, then consider entering a short position around 5300. Remember to manage risk with level-to-level profit-taking. News: Top Stories for May 15th, 2024 📈 Renewed Market Rally: The stock market has experienced a renewed record-setting rally, surprising many of Wall Street's top strategists and prompting revisions of year-end S&P 500 targets. This surge reflects robust confidence in market fundamentals and investor optimism. 🌍 Geopolitical Tensions and Commodity Prices: The death of Iran's President Ebrahim Raisi in a helicopter crash has introduced new uncertainties into the oil market, potentially affecting global oil prices. Concurrently, gold futures have reached new record settlements amid growing geopolitical tensions and rate-cut expectations. 🏦 Federal Reserve's Economic Outlook: The minutes from the Federal Reserve's latest meeting are highly anticipated as they may provide further clarity on the timing of potential rate cuts and reveal the level of consensus among policymakers. This release is crucial for understanding the Fed's future monetary policy direction. 💼 Corporate Earnings Reports: Nvidia's earnings report is particularly significant as it is a key driver of the S&P 500's recent growth. Investors and analysts will be closely watching this report to gauge the health of the tech sector and its impact on broader market trends. 📊 Global Economic Indicators: Recent data releases, such as the CPI report and retail sales data, have fueled speculations of a cooling economy. These indicators are essential for assessing the overall health of the economy and potential shifts in monetary policy.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Monday, May 20th, 2024Trading Plan for Monday, May 20th, 2024 Market Sentiment: Bullish, consolidating after a historic rally. Key Supports Immediate Supports: 5309-11 (major), 5302 (major), 5294 Major Supports: 5267-72 (major), 5232-35 (major), 5208-11 (major), 5150-55 (major) Key Resistances Near-term Resistance: 5329, 5333 (major), 5342-5345 (major) Major Resistances: 5375-77 (major), 5404-07 (major) Trading Strategy Consolidation & Pattern Formation: The market is in a post-rally consolidation phase, likely forming a bull flag pattern between 5309 and 5342. Expect choppy trading with potential for breakouts or breakdowns. Long Opportunities: Wait for a test of 5309-11 support, followed by a bounce and reclaim above 5317, as a potential long entry signal. Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, wait for a confirmed breakdown of 5302, then look for an entry around 5300 after a bounce or failed breakdown. Level-to-Level Trading: Focus on scalping profits within the range as the market consolidates. Exercise patience and avoid overtrading in this choppy environment. Bull Case Bull Flag Continuation: The market may continue to fill out the 5309-5342 range, potentially leading to a breakout toward new all-time highs. Target 5359 and 5375-77 in this scenario. Adding on Strength: Monitor overnight action for potential flagging above 5309 and below 5219 as a possible entry point for adding to long positions. Bear Case Breakdown Signals: A breakdown below 5302, with confirmation from a bounce attempt and rejection, would signal a more significant correction. Use caution with breakdown trades as they are prone to traps. News: Top Stories for May 20th, 2024 🇨🇳 Steady Benchmark Lending Rates in China: Amidst ongoing efforts to stabilize the property sector, China's central bank has maintained its benchmark lending rates. This decision follows a series of bold measures aimed at addressing challenges in the property sector, highlighting the delicate balance the government seeks to maintain in its economic policies. 🏦 Federal Reserve's Upcoming Policy Meeting Minutes: Investors are keenly awaiting the release of the minutes from the Federal Reserve's recent policy meeting. This document is expected to provide critical insights into the Fed's economic outlook and future policy directions, influencing market sentiments and investment strategies. 🌐 Geopolitical Tensions and Trade Policies: The global trade environment remains tense as geopolitical issues continue to unfold. Notably, the U.S. President's decision to raise tariffs on Chinese goods has reignited debates over the economic impacts of such tariffs, with potential repercussions for international trade relations and domestic economies. 📉 Global Market Reactions to Mixed Economic Data: As the world economies emit mixed signals, global markets are poised for a potential summertime rally, albeit with an awareness of the risks that could derail such optimism. This scenario underscores the complex interplay of economic indicators and market psychology in shaping investment landscapes. 🏦 Regulatory Adjustments and Financial Sector Implications: Discussions among regulators about reducing proposed capital requirements signify a shift that could enhance the clout of banks. Such regulatory adjustments are crucial as they could affect the stability and operational strategies of financial institutions globally, reflecting broader trends in financial regulation and oversight.
CME_MINI:ESM2024Long
by spytradingpro
Trading Plan for Friday, May 17th, 2024Trading Plan for Friday, May 17th, 2024 Market Sentiment: Uncertain, as the market shows signs of fatigue after 10 consecutive green days. Traders are anticipating a pullback and adjusting strategies accordingly. Important Note: It's OPEX Friday, which often leads to choppy price action and pinning (price moving a lot but ending near the starting point). Exercise caution and be prepared for potential traps. Key Supports Immediate Supports: 5309-11 (major), 5294 (major) Major Supports: 5271 (major), 5249 (major), 5217-20 (major) Key Resistances Near-term Resistance: 5329-31 (major), 5342 (major), 5361 (major) Major Resistances: 5398-5400 (major), 5433-36 (major) Trading Strategy Post-Rally Caution: The market is overdue for a correction after the recent parabolic move. Prioritize protecting profits and consider reducing exposure. Long Opportunities: Look for failed breakdowns at 5309-11, followed by a reclaim above 5314, as a potential long entry point. Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, look for a test and bounce/failed breakdown at 5309-11, then consider shorting at 5306 for a move down the levels, exiting all runners at 5294. Proceed with extreme caution as shorting in an uptrend is risky. Level-to-Level Focus: The breakout from the downtrend channel has created a volatile environment. Trade the provided support and resistance levels rigorously and take profits aggressively. Bull Case Holding Support: Defending 5309-11 is crucial for maintaining short-term bullish momentum. A hold here would allow for further base-building and potentially another leg up to 5330, 5342. Bear Case Breakdown Signals: A convincing break below 5309-11 triggers a more significant dip. Consider shorting at 5306 after a bounce/failed breakdown confirmation, with level-to-level profit-taking. News: Top Stories for May 17th, 2024 🌍 Eurozone Financial Stability Risks: The European Central Bank has issued warnings regarding the fragility of financial stability in the Eurozone amidst ongoing geopolitical tensions and policy uncertainties during a significant election year. 💼 U.S. Defense Spending Surge: Recent U.S. military budget allocations have reached new heights, with significant implications for global military and defense strategies. 💰 China's Treasury Sell-Off: In a notable shift in financial strategy, China has reduced its holdings of U.S. Treasury and agency bonds, marking a record sell-off that underscores evolving trade and economic relations. 📉 Federal Reserve's Interest Rate Strategy: The Federal Reserve signals a cautious approach towards interest rate adjustments, reflecting ongoing concerns about inflation and economic recovery. 📈 Global Trade Dynamics: A significant rebound in global trade is anticipated, driven by easing inflation and robust economic activities in key regions, promising a shift in international trade flows and economic recovery.
CME_MINI:ESM2024Long
by spytradingpro