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Trends continue to call for Upward movementSo I had missed the 12hr had a downtrend, which is a lower high. Once I recognized that, I've gone long once again at about 3965. There is the potential that we head lower to a Daily Downtrend signal, although... if we do, then we would have no trends to take us lower. I do find it fairly bizarre that the 30m managed to counter every lower high trend and get us to the 12hr downtrend. The trends overall are as follows; Last Macro Trend Signal Spots 30m - 3994 Downtrend (11/28/2022) Lower Low 1Hr - 4031 Downtrend (11/25/2022) Higher Low 2Hr - 4016 Downtrend (11/27/2022) Higher Low 3Hr - 4008 Downtrend (11/27/2022) Higher Low 4Hr - 4005 Downtrend (11/27/2022) Higher Low 6Hr - 3985 Downtrend (11/28/2022) Higher Low 12Hr - 3958 Downtrend (11/29/2022) Higher Low Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low We have serious Economic Data which I go over in the video, but ultimately keep an eye on the job data that comes out today, the GDP, and then prepare for Jerome Powell to speak later on. Overall, my sentiment is still as follows; Shorter Term - Bullish Short Term - Bullish Medium Term - Bullish/Neutral Long Term - Neutral/Bearish Remember your risk management and trade safely!
CME_MINI:ES1!Long
by SemperTrader
6
US Market – Long, Mid & Short-Term ViewHow to formulate investing and trading ideas for the long, mid and short-term within one single market? In this tutorial, we are using S&P. What you are about to learn can be applied to all markets. Markets are giving us many confusing signals with Dow Jones. According to CNN report, it enjoyed its best month in nearly a half-century in October and it’s up nearly another 3% in November. Whereas Nasdaq and many other stocks are very much still in their negative zone for the year. Also, the Fed’s policy is not very encouraging, with their priority to curb inflation with higher interest extending to next year than to pause it so as to revive the economy. So, with all these confusing signals, we are going to learn how to derive: Content: • Long-term view with week • Mid-term view with day • Short-term view with 15min E-Mini S&P Minimum fluctuation 0.25 point = $12.50 1 point = $50 10 points = $500 I have started this trading series, the purpose is for “Investing & Trading into Longevity”. And again these strategies shared, they can be applied to most markets. Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME_MINI:ES1!Short
by konhow
1
30m vs higher timeframe TrendsWe did run down along the 30m downtrending line yesterday without ever even creating a funnel. Definitely a bit surprised given that there wasn't anything major occurring yesterday. Clearly the FOMC speakers must have felt like giving their personal guidance to the market even though the Fed as a whole continues to lack any clear guidance as an entity. This has bugged me a lot this year that individual members are allowed to provide their own personal insight while the actual organization as a whole appears to run like the feces hitting the oscillator. Anyways, if you don't want the trends here they are; Last Macro Trend Signal Spots 30m - 3994 Downtrend (11/28/2022) Lower Low 1Hr - 4031 Downtrend (11/25/2022) Higher Low 2Hr - 4016 Downtrend (11/27/2022) Higher Low 3Hr - 4008 Downtrend (11/27/2022) Higher Low 4Hr - 4005 Downtrend (11/27/2022) Higher Low 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low You can see we are in the exact same trends as yesterday. I managed to bail on my trade overnight for a whopping $50, but I've again just jumped back into a long at 3970, especially with that major downward move being on low volume. Ultimately I believe we run higher and I think we break the highs of 4049 in another leg up before we lose this rally and get to find our bottom. No major Economic Data today, and this time no FOMC speakers I saw. Tomorrow is a big day though. My sentiment remains; Shorter Term - Bullish Short Term - Bullish Medium Term - Bullish/Neutral Long Term - Neutral/Bearish
CME_MINI:ES1!Long
by SemperTrader
5
Trends mostly point up, but waiting for the rally to resumeGreetings and welcome back after Thanksgiving to another edition of Trends in the market. If you don't want to watch the video, here are the trends; Last Macro Trend Signal Spots 30m - 3994 Downtrend (11/28/2022) Lower Low 1Hr - 4031 Downtrend (11/25/2022) Higher Low 2Hr - 4016 Downtrend (11/27/2022) Higher Low 3Hr - 4008 Downtrend (11/27/2022) Higher Low 4Hr - 4005 Downtrend (11/27/2022) Higher Low 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low If you do watch the video, you will see that we are basically oversold on the 1hr, 2hr, 3hr, and 4hr trends, and oversold on them while they are uptrending. That being said, the 30m is in a downtrend at the moment and attempting to create a funnel. So, I will want to see us get back into the rallying trend funnels before I go long, or see that the 30m creates a top for the downtrending funnel before I go short. Basically, patience will be key for me. On the Economic Data; Nothing major today other than FOMC members who love to hear themselves speak in spite of a clear lack of communicated direction by the Fed. I mention the more important data to watch later this week in the video. Earnings; Intuit and Salesforce, otherwise Earnings season is over, may stop mentioning it until next Earnings Season. Geopolitical; One thing I forgot to mention, there are protests in China over the Zero COVID. Allegedly that is bringing the market down, but I call BS, because if the protests are successful in causing the government to look at Zero Covid, it should bring a positive motion into the market. Overall my sentiment is as follows; Shorter Term - Bullish/Neutral Short Term - Bullish/Neutral Medium Term - Neutral Long Term - Neutral/Bearish I think we could find our way up to at least 4100 before we make a sustained swing downward, but I'll let the trends continue to guide me. I think any movement below 4000 will swing back up to 4000 for now, at least until I see the data on Wednesday. As always, safe trading and remember your risk management plan.
CME_MINI:ES1!Long
by SemperTrader
SPX - The uptrend pitchforkA new idea is presented now that we're out of the downtrend pitchfork. The basic idea is this - we should get a pullback and then rally up to about 4300 by mid to late January. I could be totally wrong, but with the gaps above and the confluence of technical indicators around that level, I'm betting that will be the case. In other markets this week, Oil still looks like it wants to get to 70 or lower, and BTC is trying to hold 16500 but it looks weak as of now. Needs to get over 17k for a more significant bounce. Good luck and have a great weekend!
COINBASE:BTCUSD
by the_sunship
14
Daily Bitcoin Update - SPX & ES1 are running out of roomMorning all, Not a great deal has happened since yesterday. We are still waiting to see if this Inverse Head and Shoulders play out which would see the Bitcoin price move to around $18000. I am not totally convinced that we will see a break higher at this stage. SPX and ES1 are both trading under heavy resistance being at the top of the patterns. Tick tock for those to see if they can break higher. If they do we might well see a move higher from Bitcoin. Short positions are still being stacked which goes against the current trading pattern which is looking bullish. USDT dominance also moves higher suggesting that traders are moving back into the tether safehaven. At the moment there is no clear direction so we have to wait for Bitcoin to signal its intentions. If you have any questions let me know. PLEASE HIT THE BOOST BUTTON IF THIS UPDATE IS HELPFUL Simon BPOI
BITSTAMP:BTCUSD
by BPOI
2
Trends beginning to show possible downside; Enjoy HolidaySo, again, my daughter graduates military bootcamp Wednesday, so I'll be traveling and enjoying Thanksgiving with the family this week. This will be my only analysis this week. As I said in the video, be prepared for low volume movement this week, as a large portion of traders in the US will be stepping away from the market. As for the analysis today, the 30m and 1hr are signaling we can head lower, the 2hr is dabbling with the idea, and the 4hr has lost the support of a lower high that we would have liked to see hold if we are going higher. Therefore, at this point in time, I don't see that us heading any higher this week other than maybe around the opening today, highest of 4000, but the low range could be down where we get a 6hr and 2hr downtrend, both of which will likely be close to that lower low Daily downtrend line. If you just want the trends, here they are; Last Macro Trend Signal Spots 30m - 3958 Downtrend (11/18/2022) Lower Low 1Hr - 3950 Downtrend (11/18/2022) Lower Low 2Hr - 3991 Uptrend (11/18/2022) Higher High 3Hr - 3946 Downtrend (11/17/2022) Higher Low 4Hr - 3915 Downtrend (11/17/2022) Higher Low 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low Economic Data; There is basically only any relevant data on Wednesday, although FOMC members are still going around rambling and giving inconsistent messages. Earnings; Few earnings, and of those even fewer that are relevant in weight all week. Earnings season is basically over. My sentiment for today is; Shorter Term - Bullish/Neutral Short Term - Neutral/Bearish Medium Term - Neutral/Bearish Long Term - Neutral/ with a hint Bearish coming back Safe trading, remember your risk management plan, and Happy Thanksgiving. Enjoy the time with your family.
CME_MINI:ES1!Short
by SemperTrader
ES1!11. 19. 22 This is part 2 of the ES. I think it's very easy to start a trade I'll be on the wrong side of the market if you're not very careful. On Friday, the market had already had its low for the day and the high for the day with many hours left when I found an opportunity to go long when the market was just above its opening price after it has already move to its high for the day and was about to move lower to the starting price for the day. I don't think this is an easy trade Unless you consider the context behind the trade: Just how strong the support really was.
CME_MINI:ES1!
by ScottBogatin
Trends Suggest PatienceSo trends definitely proved to be spot on yesterday after forcing us to correct the excessively high movement. This does gives some indication that we could begin to head higher and hold those higher movements this time instead of failing because of a lack of trends. We have a 30m and 1hr uptrend, but that still leaves room for us to hit a 2hr/3hr/4hr uptrend before we run out of trends to carry us higher. I have some slight concern that the 30m had begun to form a downtrend before we went much lower, and that it is still a downtrending funnel that we've left behind. Being that the market doesn't have fresh anything to price in today, not even Earnings, I don't know why we would leave the 30m trend behind in such a way, other than the other trends needed to do some correction. If you just want the trends, they are below; Last Macro Trend Signal Spots 30m - 3961 Uptrend (11/17/2022) Lower High 1Hr - 3981 Uptrend (11/18/2022) Higher High 2Hr - 3961 Downtrend (11/17/2022) Higher Low 3Hr - 3946 Downtrend (11/17/2022) Higher Low 4Hr - 3915 Downtrend (11/17/2022) Higher Low 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low You can see that both the 30m and 1hr switch trend direction at almost the exact same price point they had gone into the reverse in... At the start of yesterday, the trends were as such; 30m - 3961 Downtrend (11/17/2022) Lower Low 1Hr - 3979 Downtrend (11/15/2022) Higher Low So yeah, there is no Earnings to report, and some Housing info but otherwise not much Economic Data either. So likely to be a more technical trading day. My sentiment for today; Shorter Term - I'm a bit mixed here, I think we could go a bit higher than 3980 where we are, but I'm not sure we go too much higher before having a quick dip at least to around 3960ish. Short Term - Bullish/Neutral Medium Term - Neutral/Bullish Long Term - I'm very mixed on this... I'm just going Neutral at the moment. Lots of trends taking us upward, but the Daily is still in a downtrend funnel, even if we are operating outside of it. Safe trading and remember your risk management plan
CME_MINI:ES1!Long
by SemperTrader
The Prophecy of the Trends has Come to PassI know, I know, I'm REALLY late today, haha. So I finally got to capitalize off my trade. Not only did I not have to take a loss, but I cashed it out at $1150. I then went back to bed... because in spite of the fact I'm old enough that all my children are adults... I stayed up all night playing the new Warzone 2 with my people, and it felt just like the old days. Lots of fun. Anywaaaays... if you don't want to watch the video (I think I might have rambled more than usual cause I'm only on my first cup of coffee), here are the trends; Last Macro Trend Signal Spots 30m - 3961 Downtrend (11/17/2022) Lower Low 1Hr - 3979 Downtrend (11/15/2022) Higher Low 2Hr - 3961 Downtrend (11/17/2022) Higher Low 3Hr - 3946 Downtrend (11/17/2022) Higher Low 4Hr - 3915 Downtrend (11/17/2022) Higher Low 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low Ultimately, we have lots of lower highs, and as I explain in the video, we've hit around that lower low downtrend Daily line roughly at the same point as a 4hr higher low, and I think we don't go much further down than here. I don't know that things will rally quite yet, as we do have a 30m downtrend funnel of lower highs and lower lows to deal with, but I think this may be the low point. I am going to take a breather from the market after being able to get out of that negative trade, even though I made no where near the money I should have this week, as I would have definitely done 4 good shorts on the market with things above that 12hr line (In fact this current trade would have been worth $6000). In terms of Earnings; Nothing major today, and I think that this week is about the end of the major earnings season. In terms of Economic Data; Continuing Jobless Claims were higher, but initial jobless claims were lower. Also the Philly Manufacturing Index was much lower. However, none of that really seemed to move any sentiment when it came out in the market, because I believe both are already priced in. My Sentiment for Today... from the point of 3915-3920 where we are now, is as follows; Shorter Term - Neutral/Bullish Short Term - Neutral/Bullish Medium Term - Neutral Long Term - Neutral Ultimately, if I decided to trade today, I'd probably look for longs, but I don't know I'd hold them longer than a 30m uptrend or so. As always, safe trading and remember your risk management plan.
CME_MINI:ES1!Long
by SemperTrader
Trends show gradual incline but where is the bottom?So yet again things attempted to go into the no trend zone and failed. Ultimately, while we seem to be sneaking higher, I still think this is the top of the rally spectrum at the moment, and I don't believe in a full rally until I see a defined bottom. On the short term, we see the 30m creating a bottom and a top and taking us higher, however, the 30m is not a long standing trend, and so I'm still curious to see where we go with our longer trends. If you just want the trends and no video, here ya go; Last Macro Trend Signal Spots 30m - 3978 Downtrend (11/15/2022) Higher Low 1Hr - 3979 Downtrend (11/15/2022) Higher Low 2Hr - 3882 Uptrend (11/10/2022) Higher High 3Hr - 3912 Uptrend (11/10/2022) Higher High 4Hr - 3882 Uptrend (11/10/2022) Higher High 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low While the movement has been up, I still see a softening in our upward movement, and think it is a matter of time before we show some downtrends on the longer timeframes, even if they are higher lows. In terms of Economic Data; We have Retail Sales today. Will likely cause some movement in the market. Also FOMC Waller speaks at 14:35 EST. Waller is the most Hawkish of all the FOMC members (the very opposite of Brainard). Earnings; We have Lowes this morning, and then Cisco and NVidia after market close. All 3 should cause some movement in the markets. Geopolitical Tensions; With the missile hit in Poland, I'd keep an eye on how that all plays out. My Sentiment going into today; Shorter Term - Neutral Short Term - Neutral with a slight bearish bias (I want to see longer term trends come into play). Medium Term - Neutral/Bullish Long Term - Neutral...... just neutral for now. I'm going to mark this as "Short" today, only because I just can't shake that we need to bring in a higher timeframe trend into the mix before we can go higher. As always, safe trading and remember your risk management plan.
CME_MINI:ES1!Short
by SemperTrader
2
Price in the "No Trend Zone" are failing, but 30m shows more upAs I state in the video, all movements into the no trend zone have reversed, however we are getting higher lows and higher highs on the 30m trend. I still don't have a lot of faith that the 30m trend can take us upward by itself, however I may eventually have to accept that we aren't coming back down to 3930 or below. If you just want the trends, here are they; Last Macro Trend Signal Spots 30m - 4006 Uptrend (11/15/2022) Higher High 1Hr - 3882 Uptrend (11/10/2022) Higher High 2Hr - 3882 Uptrend (11/10/2022) Higher High 3Hr - 3912 Uptrend (11/10/2022) Higher High 4Hr - 3882 Uptrend (11/10/2022) Higher High 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low I definitely jumped into my trade early, and should have waited patiently to begin shorting anything above the 12hr trend line. That would have given me at least 2 if not 3 good trades. That being said, as I mention in the video, I've been digging into the details of this rally, and it doesn't appear to be on stable ground other than a FOMO buy in. Not saying we are heading back down to test lows, just saying I don't know about the foundation of this rally at this point. In terms of Earnings; Walmart and Home Depot are today. I'll let you know later on when I check them, as they will also directly affect Target and Lowes. Economic Info; PPI comes out today. I am interested in seeing if there is a major increase in the costs of transporting goods from fuel usage. That comes out at 8:30am EST. My current sentiment is; Shorter Term - Bearish Short Term - Neutral Medium Term - Neutral/Bearish Long Term - I am really undecided here.... I am going to just say Neutral I'm listed today as "Short" because we are ALREADY 1% higher on the day, and I think we finish lower than this, even if it is a positive gain overall. As always, safe trading and remember your risk management plan.
CME_MINI:ES1!Short
by SemperTrader
2
Trends continuing to hold upward, but on shaky groundSo we have fallen below the 30m downtrend/uptrending line. That puts the spotlight on if we have a 1hr downtrend next, or if we manage to resume above the 30m and see if the 30m can take us higher. If you aren't interested in the video, here are the trends; Last Macro Trend Signal Spots 30m - 3959 Downtrend (11/11/2022) Lower High 1Hr - 3882 Uptrend (11/10/2022) Higher High 2Hr - 3882 Uptrend (11/10/2022) Higher High 3Hr - 3912 Uptrend (11/10/2022) Higher High 4Hr - 3882 Uptrend (11/10/2022) Higher High 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low While it gives a more neutral stance going into today, I am seeing an overall bearish sentiment begin to develop into todays market, at least at this point before the open. A majority of short coverings and a gap open lower that hasn't made the way back to zero both seem to appear we could have more downside to today. I am expecting us currently to run down and potentially hit the cluster of uptrending lines that is beneath us. While I don't have it drawn on this, the 3hr uptrend current is acting as a support uptrend line below us, if it continues I may bring it over from my trading chart to this one. Earnings; No major earnings today, but we do have some big ones this week. Economic Data; Consumer Inflation Expectations and even potentially the Dallas PCE. Not sure they will be major but those are what I'm watching. Also, Fed Brainard speaks today, the most Dovish voting member of the FOMC, so I'll be watching to see if that causes a brief rally. My sentiment going into today; Shorter Term - Neutral/Bearish Short Term - Neutral/Bearish Medium Term - Bullish Long Term - Neutral/Bearish Safe trading!
CME_MINI:ES1!Short
by SemperTrader
Trends are maxed up to the Upside, Expect some swing back downAs I finished with yesterday, now that the 12hr has struck, we cannot develop any further uptrend marks above us to take us higher. That is why, I expect at LEAST a 30m downtrend in the very near future. Once we get that, we will have to see if the 30m wants to run away with the market. If you don't want to watch the video, here are the trends; Last Macro Trend Signal Spots 30m - 3882 Uptrend (11/10/2022) Higher High 1Hr - 3882 Uptrend (11/10/2022) Higher High 2Hr - 3882 Uptrend (11/10/2022) Higher High 3Hr - 3912 Uptrend (11/10/2022) Higher High 4Hr - 3882 Uptrend (11/10/2022) Higher High 6Hr - 3935 Uptrend (11/10/2022) Higher High 12Hr - 3980 Uptrend (11/10/2022) Higher High Daily - 3923 Uptrend (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low As you can see by that, everything except the Weekly is now in an uptrend. Additionally, everything below the Daily is now in a higher high. While I do believe this could be the signal and end of the bear market, in the shorter term I'd expect from movement back down here to gather trends to guide us upward if that is going to happen. So my expectation is we will see a 30m downtrend this morning. Once that happens, can we have a runaway market on the 30m? Maybe. We will see how things develop at that point. Additionally, nearly every popular technical indicator is in an overbought stage, and some, immensely so. However, that is to be expected after a 5.5% day. Speaking of which, the only other 2 days in the history of the market to have over 200-point rallies in a single day, one was very whipsaw and one gave everything back. So not great guidance there. In terms of Earnings, there are none today. In terms of Economic Data - We have some Michigan expectation data coming out. That is at 10am EST, so after the market opens. Not sure it will rock the market, especially as everyone talks about yesterday's power move. My sentiment going into today; Shorter Term - Bearish Short Term - Bearish/Neutral Medium Term - Neutral/Bearish Long Term - Neutral/Bullish Safe trading, remember your risk management plan
CME_MINI:ES1!Short
by SemperTrader
CPI and Jobless Data to Dominate the Market TodayHere I thought I'd have a short video, but alas, it was not, haha. Anyways, enjoy the video to see where trends are, what likely drove us down yesterday, and some conversation on how this CPI print could cause a huge price movement, or won't even matter in the end. If you just want the trends, here they are; Last Macro Trend Signal Spots 30m - 3789 Downtrend (11/08/2022) Higher Low 1Hr - 3800 Downtrend (11/09/2022) Lower Low 2Hr - 3762 Downtrend (11/09/2022) Lower Low 3Hr - 3755 Downtrend (11/09/2022) Lower Low 4Hr - 3755 Downtrend (11/09/2022) Lower Low 6Hr - 3760 Downtrend (10/17/2022) Higher Low 12Hr - 3726 Downtrend (11/04/2022) Higher Low Daily - 3923 Up (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low While the trends are interesting and actually show we could go up in our next movement, at least briefly, before continuing back down the forming downtrend we have going on, the reality is that the Economic Data of today will likely send this market spiraling somewhere and crush the trends that are forming. All eyes are on the CPI Data and Jobless Claims, due out at 08:30am EST. If headline CPI comes in low or sub 7%, prepare for a market surge. If it comes in high 8% or above, brace for a likely plummet. Additionally, if Core CPI comes at or just below around 1%, we are going to tumble... if it comes in closer to .2 or .3%, I expect a rally. If it comes in as expected, I expect a lot of shaking, and then a move upward towards 3800. Jobless claims I am not sure will show much. While we've had some recent layoff news, I don't think it will make this report. My bias for today is; Shorter Term - Wherever CPI takes us Short Term - Wherever CPI takes us Medium Term - Neutral/Bullish Long Term - Bearish Safe Trading, and remember your risk management plan
CME_MINI:ES1!
by SemperTrader
4
Trends appearing very neutral going into the CPI data tomorrowI hate to not put a direction for the market, however, I am very, very neutral today. Price action could likely just be within about 3800-3840 range, MAYBE up to 3860, but I'm not even confident in that. If you don't want to watch the video, here are the trends; Last Macro Trend Signal Spots 30m - 3789 Uptrend (11/07/2022) Higher High 1Hr - 3772 Uptrend (11/04/2022) Lower High 2Hr - 3799 Uptrend (11/07/2022) Lower High 3Hr - 3816 Uptrend (11/07/2022) Lower High 4Hr - 3827 Uptrend (11/02/2022) Higher High 6Hr - 3760 Downtrend (10/17/2022) Higher Low 12Hr - 3726 Downtrend (11/04/2022) Higher Low Daily - 3923 Up (10/28/2022) Lower High Weekly - 4366 Downtrend (2/14/2022) Higher Low Ultimately I have continued concerns that the 30m/4hr uptrends are in conflict with the 1hr/2hr/3hr downtrends. This is what caused me to be skittish yesterday and end up taking minimal gain instead of thousands in profit yesterday. I currently hold a short at 3855, but if we get back above the 4hr line or run down to 3800 I may just cash that out. Either way, I feel that we are again at a pinnacle point of patience. The overall trends look to want to take us lower based on the Daily, but the Weekly likely wants to have an uptrend even if it will be a lower high. All this will likely be determined by the CPI data. In terms of Earnings; Basically nothing noteworthy In Terms of Economic Data; Basically nothing noteworthy. I explain how the market may find some unfavorable conditions for energy stocks if the Democrats keep power in the House, but I think that is a bit too long term for the markets to care at the moment, especially with more important CPI data coming in tomorrow. Overall, I expect a fairly calm day, with us perhaps following up the 4hr uptrend line a little bit and close around 3840ish. Therefore, my sentiment is thus; Shorter Term - Neutral... Very Neutral Short Term - Neutral with a hint of Bullish Medium Term - Neutral/Bearish Long Term - Bearish I expect CPI to end up taking us lower, however, based on the historical action of the market, it may not happen when the CPI data comes out, and prepare for an unpredictable gamble of a swing tomorrow when that hits. Safe Trading, and Remember your risk management plan. I'm tossing this as Long for the day, only because I think by the close we might be up like... 5-10 points at best.
CME_MINI:ES1!Long
by SemperTrader