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Snp500

#ES_F 2.23.23 Day Trading Prep 2.22.23 Review: Wednesday Globex failed to continue lower, RTH Opened and failed to accept over 4012-08 and that gave us a test of 3994-89 bottom of our Daily Support where we found buyers on the first test. It was FOMC Day but things were still moving well. We did get another test and full break of 3994-89 which tells us we have supply but I think because it was end of day that instead of continuation we got short covering before the close back towards Supply without leaving our current balance area. 2.23.23 Prep: Daily Support held yesterday but are we getting a bounce, another tighter range balance day or continuation lower? We failed to break 3994-89 yesterday which told us we still had buyers and not enough supply at that time but do we have buyers strong enough to hold us and push us back over resistance? We know the buying yesterday was mostly short covering at Daily Support before the level break, IF today we cant get back over 4030-25 and get back under 4012-08 there is a very good chance to test that 3994-89 again and if we break this time we will again find us under T2 and Previous Day Lows which could bring further continuation to the downside if that will happen we can watch lower targets if we get under 3976-71 our lower Support areas will be in play. If we do hold 4012-08 and get over 4030-25 we can attempt a run our higher Supply area over 4046-42. If we fail to really get going anywhere today its possibly to stay in this 4012-08 - 4046-42 range as well, we watch level to level for continuation to either side. Levels to Watch: Resistance: Key Daily 4103-4084 Key Intraday 4030-25 // 4046-42 Key For Continuation 4061-56 Support: Key Daily 4012-3990 Key Intraday 4012-08 // 3994-89 // 3957-53 Key For Continuation 3976-71
CME_MINI:ES1!
by HollowMn
#ES_F 2.22.23 Day Trading Prep 2.21.23 Review: Tuesday Globex made a move under Previous Day Low and our 4061-56 Support. RTH Opened, filled the gap and got continuation lower into our next Daily Support at 4012-08. The way we opened/drove made me think there is a chance to break Daily Support but market held after the break and that tells us that selling is still mechanical and that its just supply coming out no outside selling. 2.22.23 Prep: We are currently sitting on top of our Daily Support of 4012-3990, Globex made a move under 4012-08 took the stops but didn't have supply to tag 3994-89. Tricky day today with the Fed Minutes but we have some good references to watch. We are inside Previous Day Range and over our Daily Support and these will be key areas today, we are still under T2 range which means we should see more sellers at some point but we need to watch which areas they step in, if we don't have outside supply right now then then price could still head higher before finding sellers if sellers come in at all unless more volume comes in at RTH and they take it lower right away. We are at Support area and we have to treat it as such until broken. Right now 4012-08 // 4094-89 are our key areas for continuation lower and 4030-25 is what we will be watching to make a move higher. Our bigger supply areas for the day are over 4046-4061 and 4084-77 possible areas to watch where more sellers can step in if we get there. If Daily Support gets broken we will watch for possible targets down to 3976-71 // 3957-53 a potential area to find support. Levels to Watch: Resistance - Key Daily 4103-4084 Key Intraday 4084-77 // 4061-56 Intraday 4046-42 // 4030-25 Support - Key Daily 4012-3990 Key Intraday 3994-89 // 3976-71 // 3957-53 Intraday 4012-08 ? *** Caution as Minutes can bring big swings today at 2.
CME_MINI:ES1!
by HollowMn
#ES_F 2.21.23 Day Trading Prep 2.16-17.23 Review: Thursday we failed to continue over 4170 and failed to hold 4143-37 which gave us a move to our lower target down at T2 low and a break of 4103-4099. Friday we opened at potential support area and were able to hold it during the day due to short covering before the weekend with a move back towards potential resistance towards the close but failed to get over it and get back towards 4100. 2.21.23 Prep: We are not counting Sunday/Monday action because of the Holiday. Currently inventory is short compared to Friday's close, we are under T2 low, barely inside Previous dat Range and are under Daily Support. Will we see continuation today and how far can we go? We will have to see what they got in store for us, we have now accepted in this 4080-4030 range, currently still have support at this 4061-56 area. Since inventory is short we might see some correction before or after open and from there we need to see if we will get a continuation move today or a reversal back towards 4100. For any move higher to sustain I think we would want to see price take out 4084-77 and base there before moving over 4100. For continuation lower we want to see us holding under 4084-77and eventually take out Previous day low and continue, Our next potential support is under 4030-25 which would be our next Daily Support at 4015-3990. The way we are looking today, we should see some continuation but anything can happen and we could balance some more. We have supply now but we also have shorts covering each step lower which is giving us these holds, until we see us run out of supply or a big bid come in direction could still be lower with 4030-15 and under an area where we could see buying. Levels to Watch: Resistance - Key Daily 4123-4100 Key Intraday 4084-77 // 4103-4099 Support - Key Daily 4012-3990 Key Intraday 4046-42 // 4030-25 // 4012-08 Current ? 4061-56 *** Treat today as Monday and it might need time to show the move this morning. Watch where we open
CME_MINI:ES1!
by HollowMn
2
ES1! SPX500USD 2023 FEB 20 ES1! SPX500USD 2023 FEB 20 Scenario1 rotation play yielded 120pts gain for week of 13 Feb. Scenario Planning: 1) Rotational play = trade at boundary of 4175-4061 zone 2) Short on test and reject of 4094-4048 zone Volume Analysis: Weekly: Ave vol down bar close off low = minor demand Daily: Ave vol up bar close toward high = Minor demand H4: Ave vol up bar close toward high = minor demand Price reaction levels: Short = Test and Reject | Long = Test and Accept 4175 4061-4048 3928-3788 3580 3502 3231 Remember to like and follow if you find this useful. Have a profitable trading week.
CME_MINI:ES1!
by paradox677
#ES_F 2.16.23 Day Trading Pep 2.16.23 : Will not be trading next two days so will be brief. We are again over 4143-37 but failing to get over 4168-62 Resistance which is Key for continuation higher and staying in this 4215-4140 area. Today our Key levels to watch stay the same from yesterday but we have been building up under Resistance all night now, we do have data coming this morning so we have to see what we do but IF we fail to get continuation over 4168 means we cant get out of T2 or Previous day high and get more buyers to come in and we get under 4143-37 then our key Daily Support comes in question with our T2 low being right at key location around 4100. If we happen to break 4143-37 and get under 4123-19 we have 4103 and 4084-77 as possible targets and if we can hold under T2 low with time still left in the day then we watch for continuation under 4084-77. If we do get over 4168-62 we watch if we can move over towards 4191-85 and 4220-15 and IF the move can sustain it self or fall apart later. Levels to Watch: Resistance : Key Daily 4215-4191 Key Intraday 4168-62 // 4191-85 Support: Key Daily 4123-4100 // 4025-4012 Key Intraday 4143-37 // 4123-19 4103-4099 For Continuation 4084-77 *** We could spend the day in another grindy day between 4140-4190 area as well so have to watch out for that, and also if it will be slow most of the day then we watch for a break down or move out later in the day as it could be tricky before it makes a move.
CME_MINI:ES1!
by HollowMn
1
#ES_F Wednesday 2.15.23 Prep Wednesday 2.15.23 : Yesterday after CPI it looked like we could get our continuation lower after we took out 4123-19 Support but we failed to even tag 4103-4099 Key area for entrance back into T2 range where short covering came in and gave us a push back over 4143-37 telling us there is still good Daily Support in that area but the move higher failed to continue or reach 4168-62 because we trapped good amount of supply over 4150 in the morning to hold us down. Can we see that continuation today? Very possible because market has been showing us for last few days that we now have supply but not yet enough to take out T2 areas and make more people sell out. Today holding above Daily Support of 4123-4100 will be a sign of strength and we are inside T2 Range right by the high. Today 4123-19 will be our Key Support only with its break we can see continuation lower, if we fail to get back to 4123-19 and get over 4143-37 our T2 high area that will put next Resistance and Previous Day high as a good target, if we can make a push past that at some point and hold then could see us go for the stops over 4191-85 towards 4220-15. On the downside if 4123-19 breaks we are looking at Previous Day and T2 low as targets and possible break and continue. Unless those break and continue we are staying in this smaller balance with 4143-37 being our middle, 4168-62 Resistance and 4123-19 Support. IF Daily Support breaks watch out to the down side. **** We Do have Data this morning and for now holding under 4143-37 so watch out if data flushes under daily support and holds then we could see a big down day towards 4000 area and we will not be looking for any longs. Levels to Watch: Resistance Key Daily 4215-4191 Key Intraday 4168-62 Current 4143-37 Support Key Daily 4123-4100 Key Intraday 4123-19 // 4103-4099 // 4084-77
CME_MINI:ES1!
by HollowMn
#ES_F Tuesday 2.14.23 Prep Monday 2.13.23 Review: Sunday Globex pushed the market over our 4103 Resistance opened above it and we got a long move towards our supply area which is telling us there are still buyers at the cost basis at 4084-77 but even with both attempts over 4143-37 Resistance weren't as strong and didn't give much continuation or rejection, which so far tells us that this area over 4143-37 is heavier outside supply area and for now we are in balance here and still have shorts covering to keep us up. Tuesday 2.14.23 Prep: Currently over Daily Support, over T2 range and right around Previous Day High and waiting for CPI. Interesting spot we are in as we are sandwiched between Daily Support/Resistance in Distribution mode, can we hold up today and go higher? Will they use the data to run it higher and sell what they can before dropping the bid? or will we drop at CPI and either keep going or reverse and trend back up? Few different scenarios can play out but here is what we know. Our Daily Resistance area is 4215-4191 and Daily Support at 4123-4100 will be Key Locations to watch, any move into Daily Resistance we need to be careful with because unless we base under 4191-85 before taking it out or take it out and base above before taking out 4220-15 then it would be hard to sustain and keep up I think and we need to be careful for it to not reverse if we even go that way of course but we have to keep in mind its a larger supply area and if shorts see supply they will drop the bid and today if 4143-37 goes again that could give us lower targets down to 4084-77 which was already tested Thursday/Friday and might not have as much support this time around which is also our T2 low area. We are over T2 range and under supply so even with CPI we have to keep in mind that we could stay in a tight range still today without a big move out, something to watch out for if we just trade between the Daily Area. On the upside if 4143-37 holds today we have stops lined up over 4168-62 and 4191-85 those are good targets with possible move to 4220-15 if it stays strong. I will watch where the market will go first and make a decision from there. Levels to Watch: Resistance: Key Daily 4215-4191 Key Intraday 4220-4215 // 4191-85 Current 4168-62 Support: Key Daily 4123-4100 // 4000 Key Intraday 4143-37 // 4123-19 // 4084-77
CME_MINI:ES1!
by HollowMn
#ES_F Friday 2.10.23 Prep Thursday 2.09.23 Review: Globex made a move over 4143-37 Resistance into next resistance at 4168-62 where we failed to hold and once RTH opened we corrected inventory back under 4143-37 and held under giving us a signal for short trade towards lower support targets 4123-19 // 4103-4099 // 4084-77. The way the day started was thinking that there is a chance to get under 4100 and with help of margin call selling push under 4084-77 but when we were still holding over 4100 before 2pm chances for that were slim but 4084-77 was still a good target to hit and test. We did fill the single prints from the Fed and now need to wait for next direction. Had some nice trades today, short from 43.75 area with exit around 84.50 would have been the trade. Friday 2.10.23 Prep: Previous session tagged 4084-77 Support and closed over it and now we are waiting to see what we will get next, continuation lower? another buy the dip? We are right at the edge of Key Support areas and can still expect to see buyers here, will it continue or hold somewhere around here and reverse later will depend on if its trapped supply coming out or outside selling. Right now we have to give it time and see what kind of structure it builds out to trade from. Going into tonight we watch 4103-4099 as Resistance and 4084-77 as Key Support and Previous Day Low. If we make a move under 4084-77 that opens the doors for a test of 4061-56 and if broken 4046-42 those two areas would need to be taken out for any continuation lower and to see our edge at 4030-25. For upside to play out we want to see buyers either at 4084-77 or strong buyers at 4061-56, our T2 low is at 4123-19 which is our Key Resistance for the day and we should have supply coming out from there which means we will only move there if we find strong buyers or run out of supply under 4103. If selling is not that strong watch for us to balance between 4103-4056 areas, Levels to Watch: Resistance: Key Daily 4214-4191 Key Intraday 4143-37 // 4123-19 Intraday 4103-4099 Support: Key Daily 4103-4084 // 4012-3990 Key Intraday 4084-77 Key For Continuation 4161-56 Next Key 4030-25 **** We are still in our bigger balance area and until we show a full move out we can stay in these back and forth this whole month unless we start breaking out of these daily areas and holding under/over. Time to be patient and strike when the move sets up.
CME_MINI:ES1!
by HollowMn
2
#ES_F Thursday 2.09.23 Prep Previous Day: Globex built out structure over 4168-62 but did not have enough buyers to get us to our Key Resistance area for the day and once the structure broke under 68-62 we got our move lower in RTH down to 4143-37 which broke easily and opened the door for lower targets and a bigger sell off but instead it took us half a day to pull back and take another attempt without any success at breaking into 4123-19 Key Support area for the day and we ended our day in b profile under 4143-37 becoming our potential resistance. Today: Globex opened and pushed into 4143-37 taking it out later in the night and now we are back in the scene of the crime from Yesterday. We are currently inside Previous Day Range inside T2 Range and hanging out under Key Daily Resistance area, is today the day we make another attempt higher and try to push over 4191-85 up to 4220-14 and maybe look above? or are we running out of buyers and trapping longs up here and will drop the bid under 4143-37 again? If the market is really strong we wont see it come back under 4143-37 and eventually take out 4168-62 and make an attempt at 4191-85 which would be our Key Intraday Resistance for today and if that gets taken there is always a chance to see 4120-14 and maybe the level above if it really makes a push but don't get too crazy up there as its an area of Supply and bid can either be dropped from there or can see more slower sideways action. If we fail to get over 4168-62 and fail to find support at 4143-37 then we could possibly see a test of Previous Day low, T2 low and that 4084-77 area but those area all big areas to hit and will only happen if we see break under and hold continue/ Other wise we could spend the whole day in tighter range again and possibly do break out over 4191-85 later in the day after we consolidate. Levels to Watch: Resistance: Key Daily 4220-4191 Key Intraday 4191-85 Current 4168-62 Support: Key Daily 4103-4077 Key Intraday 4143-37 If breaks watch 4123-19 for any continuation
CME_MINI:ES1!
by HollowMn
#ES_F Wednesday 2.08.23 Prep Overview for 2.07.23: Globex held between Key Intraday Resistance and 4123-19 Support, once structure broke it gave us pre market flush towards 4100 but failed to tag it and we again ran out of inventory. During Powell discussion volume came in took us over 4143-37 Resistance to our second Key Intraday Resistance from where we can see bigger seller stepped in and we got the move to our target at 4103-4099 where we selling stopped and gave us a move back over the resistance filled the short stops and closed the day weak trapping end of day chasers above 4175-80 after failure a tag and fail at next Key Resistance 4191-85 doesn't we cant still move above it but we have failed around it 3 times now and if we don't get much continuation then supply will build up and shorts will start dropping the bid. Prep for 2.08.23: Previous session we have stayed within our Daily Balance tagging both side of it in the same day and closing under our Daily Resisting after failing there again. Are we ready to attempt a break out from this daily balance or will we stay in range and maybe tighten up some more? Currently we are in 4214-4191 // 4123-4100 range, inside Previous Day Range and Over T2 Range now we will be watching to see if this 4168-62 act as Support or not and if we will be able to make a push towards 4191-85 which will be our Key Resistance going into tonight as that is an area we need to build under and then stay over to see upside, for now its showing more weakness and sideways action while trapping more longs on every push higher. If 4168-62 fails our Key Intraday Support will be 4143-37 which is also T2 High entry and should have buyers under there, If we do fail at 43-37 watch if we can get going under for our lower Targets towards 4123 4103 4084 ONLY if we can break 4143-37 for now we have accepted over it. Levels to Watch: Resistance: Key Daily 4214-4191 Key Intraday 4191-85 Support: Key Daily 4103-4084 Key Intraday 4143-37 Current Temp Support 4168-62 Possible Resistance? **** Watch of Key areas to show the way
CME_MINI:ES1!
by HollowMn
#ES_F Tuesday 2.07.23 Prep Review for Monday 2.06.23: Sunday Globex opened up and held under our Key Support of 4143-37 giving us a break into our Daily Support area under 4123-19 but found short covering front running 4103-4099 area, we took 3 attempts at it and all failed to reach which was telling us no lower continuation yet. We stayed in a tighter range as we thought we might in this area since now we have Supply over 4143-37 and buyers are still under our 4123 - 4100 -4084 areas. After big moves we need to do some cleaning, this was a good range to do it at. Question is can we stay in this range and attempt another move higher or they will slowly be marking this down and trapping buyers on their way. Prep for Tuesday 2.07.23: Last night Globex Opened over our 4123-19 Support and since then been trading between that and Resistance. We have now accepted in this range under 4143-37 and unless we get back over it and hold there is a chance to visit lower areas. We are Under T2 range Today which signals weakness but for now inside Previous day range, we are looking to see if we will be able to hold within this range and just trade that or will we make a move out. We have our Key Resistance of continuation higher at 4143-37 as first step and 4168-62 as confirm for continuation but we now have Supply over that area so we will need to create some buying as shorts are slowing down unless we trap more here this week for another push. It could be a tricky day holding the range with a possible break lower later in the day once shorts see supply and longs are trapped so watch out for it being slow most of the day until later unless we get big volume at open and take our resistance. Getting under 4123-19 will be the first step which should have enough supply once it does to test 4103-4099 area where we see if we break it or not. Potential Targets today are 4103-4099 and 4084-77 those two will need to break to get anymore downside. Levels to Watch: Resistance: Key Daily 4214-4191 Key Intraday 4168-62 // 4143-37 Support: Key Daily 4100-4077 Key Intraday 4084-77 Current 4123-19 // 4103-4099 *** This Slow action and quick Reversals cleans out a lot of traders, its a clean up after a part from few weeks of run up and we are at an area where size will need to show us when we are ready to move. Expect Smaller trades unless we are breaking through levels and showing continuation.
CME_MINI:ES1!
by HollowMn
#ES_F Monday 2.05.23 Prep Friday 2.03.23 Overview: Coming into the day we had our Globex inventory around 4168-62 Support which broke overnight, 8:30 am data gave us a flush taking out lower stops and finding support at our Key Intraday Support 4143-37, RTH Open didn't waste much time and corrected the inventory back inside the value and up to Intraday Resistance at 4191-85 this is an area we marked off to watch night before and if patient it gave a very good short trade all the way back to Intraday support, as much as it looked that we could break and keep going we also thought this day we could spend in Balance within this 4215-4140 range so the none break wasn't as surprising just frustrating. Even with the strong selling and supply building up over us we didn't break 4143-37 on that move lower which tells us that maybe we aren't done up here just yet. Monday 2.06.23 Prep: Where are we? Currently in this bigger balance area of 4215-4100, we have supply over 4215 over 4190 and some over 4170. Friday Closed with inventory short right at Key Intraday Support, under T2 RTH range. As much as it looks like we are reversing we have to keep in mind if our business here is not done yet then we may stay around these areas some more building out structure for the next move. It is very possible to open Globex under Support and keep going or consolidate over it, break and keep going but we have to watch for this to happen first. For now looks like we have buyers under 4140 and 4120-4100, we are starting to see stronger selling from above 4190 but its not enough where they want to break it yet it seems so keep in mind until we see full breaks of Daily Support or Daily Resistance we can stay in this balance and possibly trade level to level especially if we start tightening up the range some. We could see more downside if we break 4143-37 but watch for buyers at lower support areas if we start holding and can't get under 4123-19 and especially tag or break 4103. For upside if we hold this 4143-37 can see a move back towards T2 low and maybe that 4168-62 Resistance but that would need to get taken out and get over 4191-85 to see more upside. Levels to Watch: Resistance: Key Daily 4215-4190 Key Intraday 4191-85 Current 4168-62 / T2 Low area Support: Key Daily 4103-4084 Key Intraday 4123-19 // 4103-99 Current 4143-37 / Previous Day Low **** Not a lot of market moving data this week except Fed doing discussions and Friday data release which makes it more possible to stay in some range and build structure. We keep that in mind until we see otherwise.
CME_MINI:ES1!
by HollowMn
HI EVERYONE!Cobra here! Friday's report was quite neutral. The markets did not react much, but they closed with a fall. Let's take a brief look at the current situation: The index is getting closer to its old GAP, which I wrote about a long time ago and said that it would be closed last. If there will be no additional bad news on the market, the gap will be closed, and then it can continue further downtrend. On Friday the dollar index DXY gave a good candle up, before the markets closed. You can read next posts about crypto!
SP:SPXShort
by Bull_Short_TG
Have we snuck into a Bull Market???Have to let the charts do all the explaining. Have we silently crept into a bull market? With the feds soft decision of lowering how many basis points their planning to increase interest rates, really have to take into account of where we really are at this point looking at price action. Today we are looking at 11% from all time highs. My thoughts are,... we test 400 area one more good time for the bears sake. Just to test the pessimism of todays market after the loosening from the fed. My good guess is we are headed back to the upside. I feel that investors feel safe when the market holds above 400, just my take on things. With less mentioning of a RECESSION , the market is feeling some sort of relief. In hindsight, i dont believe that a bull rally is suitable for the reference of the upcoming price action we might observe in this market for 2023. Reason i wont call it a Bull Rally. I see week to week indecisiveness, lagging data making investors not to sure of where they want to park funds. Any move over 430 we look for the top. Any move below 400 we look to keep the fed happy to not rethink policy. Only time will tell, until then Smart trading guys.
AMEX:SPY
by SmartMoney_Trade_Club
ES1! SPX500USD 2023 FEB 06ES1! SPX500USD 2023 FEB 06 Last week's Scenario1 short and breakout trade both offers TP of 50pts each. Market is back into supply zone (circled), 3 TFs showing supply coming in. Temporary short opportunity may arise if market moves up on lower volume and narrow spread. Scenario Planning: 1) Short if 4209-4175 is resisted 2) Long on support and acceptance at 4094-4048 level when breakout level is tested. Volume Analysis: Weekly: High vol up bar close off high = supply coming in Daily: Higher vol down bar, possible 2BR formation = supply coming in H4: High vol down bar close at low (UT) = S>D. If up bar(s) after this is narrow spread and low volume, we may have a temporary short opportunity Price reaction levels: Short = Test and Reject | Long = Test and Accept 4175 4094-4048 3928-3788 3580 3502 3231 Remember to like and follow if you find this useful. Have a profitable trading week.
CME_MINI:ES1!
by paradox677
#ES_F Friday 2.03.23 Prep Review: Today we saw that our suspicions about possibly finding a place to tighten up a bit to get ready for next move might have been correct, still have to see what we do in Globex but so far the information we have is we have accepted in this 4220 - 4137 intraday range, we have supply over 4220 - 15, we have built a support last night Globex under 4061 - 62 and still have short holding us up under 4143 - 37. As long as we don't break down and fall apart or break out tonight this might be our range until we are ready for next move out or to drop the bid for lower distribution. Prep: As Mentioned above we are currently in 4020 - 4137 Intraday Range with 4191 - 62 being our Value. Until we set up for a move outside of this range we can probably expect to spend some time in or around it and should be able to trade level to level once it sets up for a move away from value or back to value. Our T2 Range is under us which should give us support but we might dip inside it, if we do start taking out taking out Key Support or Resistance areas that is where we need to watch for reversal or continuation for a bigger move out of range or back to the other side, as mentioned it might take time now until we are ready for the move and right now is the time of patience to let things properly set up and show the way... long to set up, moves quick and reverses quick which means need to be patient and ready. I think once we are ready we have that nice space blow us to drop our bid to, we have 4100 - 4080 as potential lower support when we do but until then we might take our time. Levels to Watch: Resistance : Key Daily 4214 - 4191 // Key Intraday 4220 - 4215 // Intraday 4191-85 Support : Key Daily 4123 - 4084 // Key Intraday 4143 - 37 // Intraday 4168-62
CME_MINI:ES1!
by HollowMn
#ES_F Thursday 2.02.23 Prep Review For 2.01.23: Fun day with the Fed today, not sure I how missed so many signals today for a long trade and why I was so short biased coming into today after mentioning Friday that we had more in the tank the way we closed and from our pre Fed price action. If long at the break over 4084-77 was caught, it made a nice little run over our Daily Resistance area. Our signs today were that we flushed trapped supply Monday leaving short stops above 4103 then yesterday the dip was bought and we made a lower high getting in more shorts at the area, Globex opened below and we consolidated around 4084-77 all night. When RTH failed to continue higher we built up inventory and flushed it twice but each time we failed to tag our lower Support at 4061-56 that was a big red flag because to continue lower we needed to take out 4060 area and build structure under it to be within striking distance of T2 low but we didn't do that and when Fed data came out at 2pm and 2:30pm Periods we both dipped under breaking the support but quickly coming back out signaling no supply, once 84-77 was taken again strong we had shorts trapped under us and once we took the stops over 4090 and 4110 that covering provided the buying to get us higher. Question going forward is will we accept here for now and attempt to distribute lower or will we come back in and how long will this move hold before continuing or reversing? Overview For 2.02.23: We are currently over our Daily Resistance area of 4123-4084 over this intra day range top of 4143-37, over T2 range with position below us at 4084-77 area. Question going forward is are we ready to keep moving, reverse or is this a good area to tighten up the range a bit while we still have Support below us and Supply above us too keep us from running away too much? If they wanted to keep this in some balance to clean out more traders before we decide on direction then this would be a good spot to do it but at these areas anything can happen really so its best to watch level to level. Going into Globex for me this 4143-37 area is like out middle for tonight with our Resistance being 4168-62 and possible Support down at 4123-19. Until things are clear we watch for set ups around resistance and support and trade towards the middle unless there is a break and continuation or break/hold over to either side, if we are to keep ranges small that might be the case going into RTH tomorrow but all will depend on what we do tonight if we drop the bid at night and start taking out our lower Support areas then we need to watch out. Levels to Watch: Next Daily Resistance 4214-4191 Intraday Resistance 4168-62 // 4191-85 // 4220-14 Possible Daily Support? 4123-4103 ( Previous Resistance not really tested) Intraday Support 4123-19 // 4103-99 // 4084-77 If we happen to do reverse at night or some point and break those levels next daily Support is 4012-3990 ****** There are a lot of split views right now with people thinking we should reverse fall apart or keep going to 4300-4500 which might give us some indecision and smaller ranges with moves taking longer to clean people out unless our business is concluded today and shorts are covered to drop the bid lower or we get over 4168-62 and hold to continue higher AND IF we do get under 4143-37 tonight and just continue to drip lower don't look to buy at support but instead this might be a reversal back towards 4084-77 and under don't stand in the way if we can hold lower areas
CME_MINI:ES1!
by HollowMn
1
SNP500 Short-Term Bullish Analsyis.GLOBALPRIME:US500 Factors of confluence for the analysis: * On the higest Degree of structure (Daily). We are coming from building equal highs. * coming from the equal highs, the price had built a Distribution and right after its completion, there was an accumulation that reversed the effort of the sellers. *On the purple trend, the last bearish retracement, came from the Bearish POI. However, the sellers failed to break the structure and the buyers took control of the market. Conclusion: The purple trend is likely to have as target the equal highs. We identify the highest volume interests to select the levels from which the Smart Money (the purple trend) might keep buying from. This is represented by the white dashed arrows. Click on Boost (like) to support these free analyses This expectation is a framework to look for a potential trading setup; I recommend you to not just execute based on these levels. I always wait for confirmations on lower timeframes This Analysis was done using my complete Strategy which includes: - Smart Money Concepts - Multi Timeframe Liquidity and Market Structure - Supply And Demand - Auction Theory - Volume Analysis - Footprint - Market Profile - Volume Profile - Wyckoff - Etc.
ULong
by SmartMoneySource
#ES_F Wednesday 02.01.23 Prep Review: Tuesday Globex opened and held under 4046-42 and after we built up enough supply we broke 4030-25 Range low and hit the top of our daily support at 4012. After we got over and held over 4030-25 pre market the shorts from the morning were trapped under 4030 giving us support. As long as 4030-25 wasn't taken out our trade was to the upside back to resistance areas with final target being 4084-77 area but for some reason I formed a very short bias for a reversal today even though we found a bid at support area and did look below and fail away from key level but couldn't help but try to catch reversals from 61-56 and over until finally lost that thinking to see what was happening and figured an end of day probe over into resistance would be in order for todays close and caught a nice pull back reversal from above 61-56 level from 67.50 to 88.50 to end a day. Overview: We are back in the same place we opened Sunday Globex.... Did anyone get washed out??? Hope not! We are on a mission right now and size is getting their fill. Opened today right at 4084-77 lower end of key Daily resistance with some supply above, currently right on top of T2 High and inside Previous Days Range with two data releases and the fed.... Fun fun, not the best day to try to predict what will happen and think you can catch those moves safely or predict where we will go but for now we know this... we are possibly in distribution mode, we are currently at the top of at our bigger resistance level but doesn't mean we are ready to go down, data tomorrow will bring volume. Depending or not if we are ready to move out of this range we will have to see if key locations get taken out and watch for continuation. Levels to Watch: Daily Resistance: 4123-4084 Intraday Resistance: 4084-77 // 4104 // 4124-19 // 4143-37 Daily Support: 4012-3990 Intraday Support: 4061-56 // 4061-42 // 4030-25 // 4012-08 // 3994-89 IF Broken lower cost basis is in 3957-3940 area We are currently in distribution balance covering the shorts and cleaning up the supply, we have to be careful at these areas as supply can be cut quick and introduced the same way, we see that we are still holding up and prices are bringing in buyers so business up here is not over just yet but in the mean time we can trade level to level and watch for continuations outside.
CME_MINI:ES1!
by HollowMn
1