Weekly $ES Analysis | Sep 9-13Last week's price action
This Weeks Price Projections
High Time Frame Analysis & Bias
NYSE:ES SEED_ALEXDRAYM_SHORTINTEREST2:NQ
ISP1! trade ideas
There may be a rebound, and then pull back by half.The market index may rebound first, and then continue to decline and pull back next week. The pullback is 50% of the previous wave.
The total trading volume in the downtrend wave is greater than that in the uptrend wave. There is a high probability of a second leg of decline.
S&P futures are in a volatile modeCurrently, S&P futures are in a volatile mode. Traders should sell high and buy low. The price has gone through several oscillations. It is very likely that a direction will be chosen in the next one or two days. Judging from the development of the moving average, a breakout to the upside may occur.
Not a big day downA big day down on Monday in the S&P 500 is not expected. Continued weakness in the Asia session and a possible bounce off of the lows would be more typical behavior. The next objective to the downside is 5400.
ES Daily Bullflag to 6kAs the other 2 major indices (NQ/YM) ES ended the month very strong right at the breakout point of its flag.
Upside price target is the previous ATH at 5721.25 and 6000 on a break of that high
Weekly Recap & Top 5 Trade Ideas ReviewBears finally had a good week this week. I don't really care if it goes up or down, but I love the volatility. Hopefully it continues next week. Here's my thoughts on the market moving forward and a recap of the top 5 trade ideas I had for this week.
OHLC Statistical mapping Bread &Butter ModelWhen bearish you wanna enter in the close proximity of -Manipulation and ideally target -Distribution like me today.
Sept 6th NFP ReactionNFP NY SESSION SEPT. 6TH
8:30 NPF release Price trades up into SIBI CE from prev day.
Creates Silver bullet setup at 9:30 NY AM session and thens drops to IPDA 20 equilibrium.
Offering 100 pts.
ES Range Expectations on the Non-Farm Payrolls ReleaseToday we're again looking at ES e-mini futures for an expectation of the amount of range we could do on this NFP data release. We take a look at both the upside and downside to get a view on where the boundaries of normality would be to aid us in framing intraday trades
Overnight ES Price Action Review 9-6-24Going over the Overnight session looking for clues as to what the market wants to do. NFP at 830 and the morning session will be dictated by the report. We Are Risk Managers first and Foremost. protect your mental capital at all costs for the upcoming weekend. no A+ setups no trades for us today.
S&P Analysis (Long/Short) PRE NFP | Recession Coming?The SPX like many other equities has been hit by risk off sentiment following concerning data.
Anything further could spur more negative bias on equities and bring them down.
ES HEADING INTO NFPWe are fast approaching the previous NFP data point (whilst NQ sits below its previous NFP already). As I said on the NFP analysis the majority are anticipating a melt up on NFP. Which does make sense to squeeze the shorts this week but I still see us trading lower to atleast take the close proximity liquidity at the low and even trade below the previous NFP data point. The CLM level is critical. This is a level I have developed after 8 years in this game. I have a system around them which over a large number of trades is at the moment running at 63% win rate ! So for now I'm certainly utilising those levels, here I have just marked in 1 of several.
Stay safe on NFP.
Namaste!
Yes going lower it's about 12 midnight.... I misstated it in the video.. I think the Market's going lower even though it's at a support level because the market had already had a high and it's a number of weeks later and the market could not retest the high and now the market looks like it's going to break lower and the reward is about 100 points maybe more. I don't quite have a classic 2 bar reversal and... so I am jumping the gun a lit.bability that the market will trade lower. if it works it's not really an eloquent trade and if it goes higher and stops me out that's not eloquent either but you generally won't go broke with small stops as long as you can make decent Returns on the trades that you do take. I talked about time as a consideration for taking a trade... I started out my training like that many years ago.... but I found that it was a futile and frustrating way to look at the market and I have almost completely stopped trying to factor in time. if you draw oblique lines on a chart that's associated with time,,,, if you draw a horizontal support resistance line that has nothing. to do with time...which is a good thing for me. an oscillator by definition deals with time.... and my interpretation of an oscillator is unreliable because of that so I never used them. but it's okay to look at a chart that fails to make new highs over a substantial. Of time and that's what I tried doing here.
ES Short TargetI'm expecting a bearish reaction to NFP tomorrow, but we'll see. Not gonna bother trying to predict that, but I will react to it. ES held around 5500 today and has demand from ~5486-5471. If we end up selling off below 5471 tomorrow, 5440 is the first target after that and eventually down to the trendline below.
That may be around 5350 depending on when it hits. We may get a bounce around 5440, which could lead to a retest of the demand near 5486, it should flip to supply if broken below. If we hold 5500 and reclaim the trendline above, I'd be looking for longs on a retest. VX will be an important thing to monitor as well.
ES Price ACtion Review Day Session 9-5-24Going over the DAy Session Price Action ES looking for clues as to how we could have traded better and how we're positioning for the NFP in the morning. No A+ setup no trades for us. keeping our mental capital intact for over the weekend where we'll do a lot of reflection and grading of trades. dont be lazy.
S&p 5400 coming Ai bubble popping as we speak 9/5 2024 NVDA books reflect sales to companies that now are under scrutiny geopolitics hot oil choppy avgo missed earnings rate cut drama the cooks at the BLS continue to chef it up with wild swings in reports and revisions all with the last US election in the rear view mirror
Positioning before the Friday numbersThe price movement in the S&P 500 over the last two days indicate a market positioning itself before the labor numbers on Friday. Structurally it is somewhat of a neutral position. I think there is nothing unusual in the reports I'm looking for an up close for Friday.
SPX ES Futures - Clearer view for Wave 4?Greetings!
SPX is much clearer and more constructive than NASDAQ in my opinion. Keeping this short and sweet. Current bias is this drawdown is exactly what everyone expected and wanted. Currently leaning bullish for the time being while being hedged in the event NFP tomorrow causes a major market downturn.
KEY level is below 5360, but I believe the more important levels are on that 38.2% and 50% internal retracement for the wave 4 at 5475 and 5420 (roughly).
NFP tomorrow, I expect we will probably see a push down initially followed by a rebound. Market was very choppy today (see my NASDAQ update for more details on that), but I think we're going to find a resolution soon where we can get more directional trades.
Happy hunting!
My Full ES/SPX Plan for Tmmr Sept. 6thPlan for Friday: **Supports:** 5512, 5502, 5494 (major), 5482 (major), 5476, 5474 (major), 5462, 5455 (major), 5450, 5445 (major), 5438 (major), 5428, 5423, 5414 (major).
**Levels to Bid:**
- I am still holding my 10% long runner from the **5493** knife carch idea that played out this afternoon. I have added long exposure around **5513**, risking 25% of today’s profits.
- We are currently in a new chop range between **5493 and 5554**, with **5519** acting as a key middle point. This has been tested 14 times since yesterday, so it’s no longer fresh but still worth watching for failed breakdowns as always.
- **5494** is next major support below, though it’s risky to buy directly after today’s test, especially with the NFP report coming tomorrow morning. Ideally, I'd like to see it flush and recover, perhaps testing **5482** or **5474** before reclaiming for a safer entry.
- Below **5492**, I consider this "knife catch mode," meaning supports will likely fail, so I’d be careful with longs, snd treat with smaller size than normal . However, **5455** and **5438** are key levels to watch for buy reactions if price starts flushing down aggressively.
**Resistances:** 5519 (major), 5524, 5528-30 (major), 5537, 5543, 5554 (major), 5560, 5566, 5574, 5577, 5582-86 (major), 5593, 5598, 5605 (major).
- With NFP tomorrow, we could see a violent rally, and I am not interested in shorting strength in ES. For those looking to short, **5582-86** is a logical spot, where we broke down earlier this week and have yet to backtest.
**Buyers Case Tomorrow:**
- Currently, ES has an active failed breakdown present. The key is for **5492** to hold, allowing buyers to defend this level and potentially reclaim **5519**.
- The path forward for buyers would then be targeting **5528-30**, **5554**, and eventually **5582-86** for a dip and push toward **5630**.
**Sellers Case Tomorrow:**
- Begins with the failure of **5493**. As i mentioned often though, breakdown trades below this a support are tricky, advanced setups, as most breakdowns trap (80% fail), and these are low-win-rate, high-risk/reward trades. So keep that in mind. Properly reading volume is the key to these type of trades.
- Generally, I’d want to see 5493 tested/one more failed breakdown of the zone (ideally down to 5483 that recovers). After this, I’d consider short perhaps 5486. Level to level profit takes, as always, but we likely get down to 5455.
In general, We have gone nowhere for two days. My general lean is that 5493 and 5519 remain critical levels. As long as we can keep defending 5493, ES is still in relief bounce/squeeze mode. This would work us up the levels to 5528-30, 5554, then on to 5582-86. If 5492 fails, bulls dropped the ball on this and we need to take another leg down.
SP500 Analysis 9/5/24Price has broken lows in Asia session. Looking for reaction to previous low. Bears are in market and news is on the way!!.. Possible continues to downside or push to the upside..
Good Luck trading.
Risk Mngt#1
ES levels and targets sept 5thYesterday, 5519 was a key support in ES, and I called for a rally off that level to 5554+. We tested and held it an incredible nine times yesterday alone.
Plan today: No changes. 5519 remains support, though it’s weaker now. Buyers holding it keeps 5543, 5552, and 5578+ in play. If 5519 fails, we sell to 5502 and 5492.
