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Alex ✌️
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Today, ES_F was not able to reclaim and rejected the 4016$ level last night. We pulled back down to the 3977$ level that we were not able to hold either.
We are seeing the pullback/consolidation I was talking about for a couple of days now, following the post-CPI rally. We were ST extended and were due for a consolidation. Kma’s are catching up slowly and that pullback SEEMS to play out in a healthy way so far.
Tomorrow, I will be looking closely at how we react to the multitude of FED speakers and pre-market news. We now have 4 days of very choppy & tight action defined by that orange box on the ES_F chart.
On the upside, I would play a reclaim of 3977$ for an early long entry or 4016$ for a really solid long signal.
On the downside, I will be looking closely at the action around the 10dma as potential support. One thing is sure, I really want that 3903$ level to hold for the bullish scenario to hold true.
Don’t be bearish at the first red day we’ll get, the trend is up for now and until we see a clear red flag, I will treat a pullback as being healthy.
NASDAQ (NQ_F) Daily
RUSSELL 2K (RTY_F) Daily
In the following sections of tonight’s letter, I’ll cover very important parts of my daily routine & preparation for tomorrow’s trading session.
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