S&P500: Last chance to hold this level and rise.S&P500 has turned neutral on the 1D timeframe (RSI = 46.008, MACD = 1.700, ADX = 33.340) after today's 1D candle crossed under the 1D MA50. To make matters worse, the 1D MACD is reversing and if the price doesn't rise, it will form the first Bearish Cross on such low level since June 10th 2022.
On the brightside, the 0.382 Fibonacci level is still holding, and if it continues to close candle over it, this correction will turn out to be just a minor pullback similar to January 19th. So until the bearish conditions emerge, we will be bullish, targeting the 1.236 Fibonacci extension (TP = 4,670).
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Consolidation, ContinuedS&P 500 INDEX MODEL TRADING PLANS for WED. 09/06
As we wrote in our trading plans published yesterday, Tue. 09/05: "Markets appear searching for a direction, with a mild bias to the upside which appears to be waning. This week could reveal some clues as to the near term direction".
In this morning's session so far, markets continue to be listless with the bias sliding towards mildly bearish. Nevertheless, bears need to wait for a confirmation before taking any positional shorts - a daily close below 4450 today might give that confirmation.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4501, 4490, 4472, or 4445 with a 8-point trailing stop, and going short on a break below 4496, 4488, 4468, 4459, or 4442 with a 9-point trailing stop.
Models indicate explicit short exits on a break above 4462. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 11:46am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #softlanding, #oilprices
S&P500 -ES has reached the Top for now.This is my 100% believe, that the S&P500 has reached at least a temporary high.
From here we will go down, at least to the dashed WL (Warning Line).
We had the Open & Close below the Lower Medianline Parallel. But price couldn't reach the WL. So, that means we had a HAGOPIAN cooking.
A HAGOPIAN means, that price will go further in the opposite direction than from where price came.
And this rule was right. SP500 was going up like there is no tomorrow. Just stupid buying all the way.
Today it found it's wall, banging it's had on the Lower Medianline Parallel. This was the first Test. As we know, price can create multiple tests before dropping down.
I was observing price action the last couple weeks and it was Insanity at it's best. Be it from Algos or HFT's, I don't care. I just follow my rules and currently they say:
<<< IT's OVA >>>
So, I follow my Medianline/Fork Rules and I'm Short.
The target is as of my rules, the next Line, which is the Warning Line. Interestingly it's also where price intersects with the bigger (Green) Pendulum Swing Fork.
Let's have a Christmas experience §8-)
Will the Bears get Bold?As many of you may recall I recently posted that the areas of ES 4250-60 is my next target. What happens there will determine the price action for the remainder of 2023.
You can read the post here.
However, from a sentiment standpoint, we look next to see if boldness develops on the part of the more bearish thesis. To breach the 1.0 on the ES in any meaningful way at 4250-60 brings the ES 4150 into view for minor wave 3 of intermediate degree wave 1, which would then conclude around the 4040 area before getting a wave 2 bounce.
First, let's see if the bears develop a bold sentiment.
Best to all,
Chris
ES Morning Shorts From Last Nights IdeaGood Afternoon everyone,
I will show in depth order entries in this post, read the updates to see.
This idea was formed last night around 10PM NY Time. I originally was hoping to trade up into the most recent Order Block (green path arrow) during the London session and end at the Terminus -4 around 8:00AM NY time. I then would've liked to see accumulations followed by a Turtle Soup or sweep of that low at the Terminus -4 during market open. I wanted to take countertrend longs in that area into the Order Block resting above the Liquidity Void, this move is denoted by the orange path arrow.
However we ended up going straight to Terminus -4 during London and we rallied above Asia accumulation into the Bearish Order Block sitting right above (green path arrow). We took shorts from this area and we were looking to target the Sellside Liquidity below to complete our MMSM (Market Maker Sell Model) on the 15M chart. We were able able to bank 2.1% off the move just by taking profits at the short term low 4507.5 and holding a few more contracts to a slightly lower price once we noticed price wasn't wanting to break the low at the Terminus -4 just yet. The Sellside Liquidity is still a viable target, we have just been choppy since right after open so taking profits is worth the time spent waiting for price.
Hopefully this was more insightful on how to form an idea for the next trading day. I will commit to making more informational posts like this. Please read the updates for a 5M look at the entries and a reference to the MMSM.
Consolidation Week Ahead?S&P 500 INDEX MODEL TRADING PLANS for TUE. 09/05
As we wrote in our trading plans published Fri. 09/01: "The NFP numbers paint a picture of potentially the hoped-for Goldilocks scenario could continue into the next Fed meeting, continue to push up the markets higher. On the flip side, any weakness in today's regular session could indicate the beginning of the end of the recent bull run".
Markets appear searching for a direction, with a mild bias to the upside which appears to be waning. This week could reveal some clues as to the near term direction.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4432, 4418, or 4502 with a 9-point trailing stop, and going short on a break below 4528, 4516, 4498, or 4488 with a 9-point trailing stop.
Models indicate explicit long exits on a break below 4510, and short exits on a break above 4491. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 10:41am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #softlanding, #oilprices
Evening Update: What Worries Me in the Short Term?It’s not the Fed.
My perspective is Chairman Powell has been fairly clear in his updates to the markets. The markets simply don’t want to hear any of it.
It’s not bonds, or interest rates.
Those are trackable and I have posted on the 2yr and 10yr bond yields. Yields are creeping higher and have done so since the October lows.
It’s also not corporate earnings.
If NVDA couldn’t save the Nasdaq…then all hope is lost. Well…not all. Lol
Nope, it’s none of that.
It’s the potential for a government shutdown with an October 1st deadline. Is that going to be our catalyst? In truth, I don’t know. But according to CNBC, since the United States is in a Presidential election year, the stock market can’t go down. Have I mentioned CNBC is more detrimental to trading for profit than anything.
I have long contested that the US markets are in a multi-generation reversion to mean cycle. In EWT terms…a super-cycle wave IV. These excuses mentioned above, are all the old paradigms of a 100-year-old bull market which carved out our super-cycle advance in what I am forecasting as a super-cycle wave III top that occurred in January 2022. If my analysis is correct, (and it is by no means a slam dunk as to where we are right now in the indices)…the January 2022 highs will NOT be revisited for a long, long time.
In the short term, let's see if the US Congress proves Fitch's downgrade of US Debt was warranted.
Best to all,
Chris
ES eminiCME_MINI:ES1!
Will this years ES emini futures bull run last?
Will this current measured move sustain to higher levels?
Tough call not knowing what the man in charge will be doing at the next FOMC meeting.
Until then, we trade what we see, and what is in front of us.
So for now, I see some headwind moving up from here, OB's everywhere.
NFP Numbers and the GoldilocksS&P 500 INDEX MODEL TRADING PLANS for FRI. 09/01
As we wrote in our trading plans published Mon. 08/28: “If we get a daily close above 4415 today then our models will flip to a moderately bullish bias. If not, they will continue to sport their bearish bias”. We got this confirmation with Monday's close, and our models have turned cautiously bullish on Tue. 08/29. Ever since, the markets have been on the upswing heading into - and, post - the NFP numbers release this morning.
The NFP numbers paint a picture of potentially the hoped-for Goldilocks scenario could continue into the next Fed meeting, continue to push up the markets higher. On the flip side, any weakness in today's regular session could indicate the beginning of the end of the recent bull run.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4568, 4547, 4532, 4509, or 4491 with a 9-point trailing stop, and going short on a break below 4565, 4543, 4517, 4506, or 4488 with a 9-point trailing stop.
Models indicate explicit long exits on a break below 4555 or 4529, and short exits on a break above 4559 04 4522. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 09:31am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #earnings, #usdebt, #bankdowngrades, #nfp, #jobs, #nonfarmpayrolls, #payrolls
Bulls and Bears zone for 08-30-2023S&P 500 has three consecutive days of positive Close this week. Could traders make it four, we will find out later on today.
Any test of yesterday's Close could provide direction for the day.
Level to watch 4507 --- 4509
Report to watch:
US: Pending Home Sales Index
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
S&P500 Huge buy signal confirmedFollowing last week's buy signal (chart below) on the S&P500 index (SPX), we shift our attention on the 1W time-frame where the new long-term buy signal has just been confirmed:
As you see, the price closed above the 1D MA50 (red trend-line) yesterday, invalidating any bias for further decline and confirming the resuming of the long-term bullish trend within the Channel Up pattern since the October 2022 bottom.
The 1W RSI rebounded exactly on its Higher Lows trend-line, giving a strong bottom signal where previous rebounds have been completed at least a +9.85% rise. As a result, we update our long-term target to 4750.
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Turning Cautiously BullishS&P 500 INDEX MODEL TRADING PLANS for TUE. 08/29
As we wrote in our trading plans published yesterday, Mon. 08/28: "If we get a daily close above 4415 today then our models will flip to a moderately bullish bias. If not, they will continue to sport their bearish bias". We got this confirmation with yesterday's close, and our models are turning cautiously bullish for today.
There are mixed signals about the viability of this push up, hence the cautiousness. With the economic released coming in rest of the week, with the culmination into the NFP Friday, there is a risk of volatile spikes in either direction. If you are entering into a positional trade, make sure you have enough bandwidth to sustain wide swings.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4486, 4476, 4463, or 4454 with a 9-point trailing stop, and going short on a break below 4483, 4473, 4460, 4450, or 4437 with a 9-point trailing stop.
Models indicate explicit short exits on a break above 4443. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 11:46am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #earnings, #usdebt, #bankdowngrades, #nvidia
4400 Breakout Confirmation Today?S&P 500 INDEX MODEL TRADING PLANS for MON. 08/28
As we wrote in our trading plans published Thu. 08/24: "It remains to be seen if this morning's surge above 4400 will be convincing enough for our models to abandon the bearish bias by tomorrow". On Friday, 08/25, we wrote: "Based on the early session action, we are not abandoning our bearish bias yet. We will reevaluate this on Monday".
If we get a daily close above 4415 today then our models will flip to a moderately bullish bias. If not, they will continue to sport their bearish bias.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4433, 4426, 4407, 4402, or 4387 with a 9-point trailing stop, and going short on a break below 4424, 4413, 4405, 4398, or 4384 with a 9-point trailing stop.
Models indicate explicit long exits on a break below 4430. Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 10:16am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #earnings, #usdebt, #bankdowngrades, #nvidia
SPY SPX NASDAQ S&P500 ES are not going to dumpA "head and shoulders" pattern is a technical analysis chart pattern that can indicate a potential reversal in a stock's price trend. It consists of three peaks: a higher peak (the head) between two lower peaks (the shoulders). The pattern suggests a potential shift from an upward trend to a downward trend.
However, the effectiveness of technical patterns like head and shoulders can vary, and they don't always accurately predict market movements. Market behavior is influenced by a multitude of factors including economic indicators, company performance, geopolitical events, investor sentiment, and more.
"Complex correction" typically refers to a more intricate and prolonged market correction, which is a decline in stock prices from recent highs. Corrections are a natural part of market cycles and can be caused by various factors like overvaluation, economic downturns, or other negative events.
It's important to note that making accurate predictions about market movements is extremely challenging, even for experts. If you're considering investing or making financial decisions, it's advisable to do thorough research, consider a diversified approach, and consult with financial professionals who can provide tailored advice based on your individual circumstances and risk tolerance.
Bounce Above 4400 Sustainable? Day 3S&P 500 INDEX MODEL TRADING PLANS for FRI. 08/25
Notwithstanding Chair Powell's Jackson Hole speech, our models continue to not give credence to the bounce above 4400 in SPX. We need confirmatory signs before we negate our bearish bias.
In our trading plans published Thu. 08/17, we wrote: "The index is approaching the 4400 level this morning. If it breaks down, then 4385 will be the next support". The index closed below that level on Thursday, and took down multiple support levels since then, and our models' bias has turned outright bearish on Friday, and will remain bearish while the daily close is below 4400.
As we wrote in our trading plans published yesterday, Thu. 08/23: "It remains to be seen if this morning's surge above 4400 will be convincing enough for our models to abandon the bearish bias by tomorrow". Based on the early session action, we are not abandoning our bearish bias yet. We will reevaluate this on Monday.
Aggressive, Intraday Trading Plans:
For today, our aggressive intraday models indicate going long on a break above 4433, 4421, 4407, 4384, 4372, or 4356 with a 8-point trailing stop, and going short on a break below 4430, 4417, 4405, 4381, 4367, or 4353 with a 9-point trailing stop.
Models also indicate a break-even hard stop once a trade gets into a 4-point profit level. Models indicate taking these signals from 10:31am EST or later.
By definition the intraday models do not hold any positions overnight - the models exit any open position at the close of the last bar (3:59pm bar or 4:00pm bar, depending on your platform's bar timing convention).
To avoid getting whipsawed, use at least a 5-minute closing or a higher time frame (a 1-minute if you know what you are doing) - depending on your risk tolerance and trading style - to determine the signals.
(WHAT IS THE CREDIBILITY and the PERFORMANCE OF OUR MODEL TRADING PLANS over the LAST WEEK, LAST MONTH, LAST YEAR? Please check for yourself how our pre-published model trades have performed so far! Seeing is believing!)
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) These trading plans may be used to trade in any instrument that tracks the S&P 500 Index (e.g., ETFs such as SPY, derivatives such as futures and options on futures, and SPX options), triggered by the price levels in the Index. The results of these indicated trades would vary widely depending on the timeframe you use (tick chart, 1 minute, or 5 minute, or 15 minute or 60 minute etc.), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
(iii) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
#spx, #spx500, #spy, #sp500, #esmini, #indextrading, #daytrading, #models, #tradingplans, #outlook, #economy, #bear, #yields, #stocks, #futures, #inflation, #recession, #earnings, #usdebt, #bankdowngrades, #nvidia