Sunday Homework

No real direction. Bulls need to prove themselves by taking 3640ish and bears need 3500. We are just ranging until that happens. The 5 minute is a bit interesting. Why did that 3542ish area hold? That should have been really week and fallen down to 3500.

ES 4 hour chart

ES 12-20 (240 Min)  11_20_2020.jpg

ES 5 minute chart

ES 12-20 (5 Min)  11_20_2020.jpg

Sunday homework

Futures homework for the S&P 500 futures

Talk about a bull market. Bears need to get this 60 handles below to 3287ish for a “hope” of taking it lower. Everything is overbought. All sorts of valid reasons this should be lower. A good indication of a trend is how far apart are the moving averages in the time frame you are researching. The the 20, 50 and 200 on the daily and all sloping up and opening farther apart. You could probably scalp any one of those averages with success

ES 09-20 (Daily)  3_31_2020 - 8_7_2020.jpg
Daily S&P 500 Emini futures chart
ES 09-20 (240 Min)  8_9_2020.jpg
4 hour S&P futures chart

The 4 hour seems to offer a probable location for a possible chance at a short in the 3400 area.

This would be a great time to see if you could put on a free hedge out to post election in November. Selling like a SPY 360 or 370 call and seeing if that would give you enough money to put or get a credit for a put of the same expire. Like a 280 or 300. It might now work but would give protection to the downside. Similar to this trade that I put on and advised about in February of this year.

Sunday Homework

That was a pretty bullish recovery on Friday. Bears need to take 3190 to really change the market calculus. That level has been tested twice now and should fail on the next test. Bulls need to take the 3287ish area to prove they have the energy for higher. This is just consolidating until that happens.

ES Daily with comments

ES 09-20 (Daily)  4_16_2020 - 7_31_2020.jpg

This an example of a diaper trade that would not have worked. Techniques do NOT work 100% of the time. Anyone that tells you differently is lying to you.

ES 5-minute chart

ES 09-20 (5 Min)  7_31_2020.jpg

Sunday Homework

ES 09-20 (Daily)  1_9_2020 - 7_10_2020.jpg

The ES Emini is consolidating. It’s in a trading range 3110-15 to 3185ish or so This is a pretty wicked rising finger on the shorter time frames. There is nothing jumping out, but would be comfortable shorting into the first tests 3220-25. It’s probably better to just sit on your hands

ESM20

Forming a rising channel. They tested the top of that consolidation zone and cleared the hump at 2700. 2875 is the next big area bears need to defend or this could get to 3000 again, I would short the first test of 3000 to see if I could get runners in place for when that channel fails.

ES 06-20 (240 Min)  4_14_2020.jpg

Sunday Homework

This is still short the pops until bulls regain 3132ish and higher. Normally I would post a 5 minute chart, but nothing is signing out “DO something” on that time frame. I would expect us to gap down when Sunday opens up and Asia starts trading. They will be responding to that large downdraft the US closed on last Friday

ES 06-20 (240 Min)  3_20_2020.jpg

ES Emini S&P 500 four hour futures chart.