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Alex ✌️
GENERAL MARKET ANALYSIS
S&P500 (ES_F) Daily
Today, ES_F tried to breakout into new highs and was showing very positive action, until the Poland/Russia news dropped. At that moment, the market lost all its gains and even dripped below 3977$ area level. We managed to come back into the resistance area by EOD as the situation is quite uncertain, but I think that there is a real geopolitical risk here that put me on the defensive along with the fact that we were already extended and in a potential resistance area.
The upside gains are not WORTH the overnight downside risk
Tomorrow, I still think that we are seeing an ST extended market that MIGHT be due for a pullback or at least a consolidation. Will that consolidation be more severe than I thought, maybe? But will follow price action on the long side until we have more clue of a reversal & rollover. So tomorrow again, I want the market ideally breakout of the 4016$ level to confirm a continuation higher, or a breakdown below 3977$ to confirm more pressure ahead.
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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