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SPX Top Down Analysis 9/27/22We are trading within a range near the most recent low on the daily after a big move to the downside. Definitely still overall bearish but we are trading into HTF points of interest to the downside, basically buy to sell setup's in the making. Missed the trade yesterday off of the range high but that's okay. Lots of news today so I won't be so quick to pull the trigger and just be more reactive today. 7:30am USD Fed Chair Powell Speaks 8:30am USD Core Durable Goods Orders m/m 0.3% 0.2% USD Durable Goods Orders m/m 0.1% -0.1% 9:00am USD HPI m/m 0.0% 0.1% USD S&P/CS Composite-20 HPI y/y 17.1% 18.6% 9:35am GBP MPC Member Pill Speaks 9:55am USD FOMC Member Bullard Speaks 10:00am USD CB Consumer Confidence 104.0 103.2 USD New Home Sales 500K 511K USD Richmond Manufacturing Index -10 -8
BLACKBULL:SPX500
by Cory4rex
SPX 9/26/22 No new entries so far So far no new entries on anything today and I'll probably leave it that way. We have had a confirmed response to the +OB and the +FVG after opening up the week to the downside. That said, we are still heavy and holding within a range (3704.10-3657.90) for now. 10:00am USD FOMC Member Collins Speaks 4:00pm USD FOMC Member Mester Speaks These two news events are going to likely drive us for the day so I'll likely hold on for those and look for a response to whatever POI we are near at those given times. SPX
BLACKBULL:SPX500
by Cory4rex
SPX setup 9/23/22Looking for a retracement at this area for rejection and continuation. No reason for us to move higher than this but if we do the A/S range left a FVG, an -OB, TDO, and the daily open as supply. Going to be waiting for the times & sales to show the entry. The pass few days NAS has shown all the order flow except for the afternoon entry on SPX. Projected low from daily fib level End of the week so the risk will be reduced and no trades will be at a risk of more than 0.25% for the total of all trades entered.
BLACKBULL:SPX500Short
by Cory4rex
SPX neutral with a bias to the downsideAfter yesterday's drop that hit my 3770 target, we are holding near the weekly lows in discount. On the LTF the buying started in A/S sessions on through London session to take out some on the short term price imbalances. Last POI was a reaction off of a -FVG that can be seen on the 15m and 1H charts. We will need to see if the fresh +FVG (not noted but its there on the same charts), the A/S session range, the DO, or the TDO holds up, else we continue down for the day. There's even a +OB at the 2:30 candle on the 15m, so I'll definitely be watching out for these +POIs. The unemployment claim release at 8:30 is a good catalyst for a decision on the move today and that's where I'll be focused in on. The forecast is for higher claims and I am in agreement with that but I'll be patient in my bias. Terms: LTF: Lower Time Frame POI: Point Of Interest A/S: Asian Sydney session -FVG: Bearish Fair Value Gap +FVG: Bullish Fair Value Gap DO: Daily Open TDO: True Day Open +OB:Bullish Order Block
BLACKBULL:SPX500
by Cory4rex