Last week the important area was below Friday’s low and the 3 week balance top. The key was looking if sellers could even get traction below it from the US holiday session. Sunday we opened right at our 5965-68 zone and was quickly bid back to Friday’s low. On Monday […]
With the weekend news of the US strike against Iran any prior plans are basically mute until we see where we open Sunday afternoon and Monday’s RTH open. For the past few weeks, my concerns of where we were with increased risk on new longs was valid, so far. Here’s […]
Last week saw us remain above the 3 week balance and building value above. 6060’s was mentioned about potential resistance and came in with CPI testing the single print. Wednesday morning I expressed concern that if buyers don’t hold and move higher on CPI then that would be a notable. […]
We’re now in 3-Week balance with both ends being swept in ETH. Weekend news immediately opened bid on last Sunday quickly moving up to the targets 5876 and 5887-95. Mid week in a dramatic fashion after NVDA ER which saw a nice bid, Trump was dealt a blow against his […]
ES Live chart: https://www.tradingview.com/chart/f8EEzTyy/ ES finally found a short term high and entered at least a shorter timeframe downtrend. Throughout the week, three noticeable character changes were mentioned which kept us more defensive against longs using short hedges on SPY and/or shorts on ES and allowed shorts from failed breakouts […]
With a gap up and go from last weekend, we found price moving towards a prior area of major resistance marking the first attempt of the previous mult-week balance from ATH. Amazing that we dropped 20%+ only to reclaim 17% of that in a month. As with all good things, […]
This week we found daily balance with prices pinging between 5596-5601 and 5720-25 / 5733-5740 levels. This is now 7 day balance with Friday closing on the upper half as an inside day. Additionally, this “mini” balance is in the middle of a much larger balance range 5512-5837. From the […]
We’re coming up to a pivotal area. The 5724.25-5822 is a multi day balance going into the election. This also happens to include the Trump Tariff Announcement along with the upper side being the multi week and month balance from ATH. On Wednesday, we came down to Friday’s low and […]
Last weekend, we were left with an inside week where I said it is played the same as an inside day. If traded lower, we either LBAF the inside candle low or find continuation to the prior low. From last week… Breaking below last week’s low 5251-60, opens the inside […]
I’ve mentioned previously that the current low may not be the low. What bothers me is the volume profile since then. The low is not at a bad location, it’s at an important level an area of the 3-year breakout. But the amount of volume that is top side verses […]
