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Up 1st, Mad Max 2nd
Some major technical changes to the market that we need to review before next week.
Planning the Next Leg
Phase one complete and thankfully as planned but that always leaves the question… What now? I’ve got some ideas and will do my best to lay out a plan in tonight’s update.
Feeder Follow-Up
On Monday we looked at a setup in Feeder Cattle futures. This idea has been developing nicely. Let’s see how it looks now.
Anyone for the S&P?
Now that CPI data is behind us can we start looking for the next leg higher? This is the current pattern I’m following and some of its implications into the monthly expiration.
Two Ways of Playing the Trend in Gold
Whether it’s a reversion to the mean or historical volatility, let’s look at how to focus on where to enter gold to the long side.
Tomorrow is a big day!
In this video, we look at today’s continued push higher, almost back to 4000 on the ES. We have moved over 170 points since Monday as we get ready for the CPI report tomorrow. Obviously, the market is anticipating a better than expected CPI number and this could really get us moving higher if it happens. If we get a surprise higher number, we better watch out on the downside. We look at charts and go over levels and what to expect.
Back to Balance
There was a reason we have been targeting the ES & SPX levels. The idea was a return to balance. The day has come and the initial target achieved. I’ll lay out a plan going forward given the fact that there is still data ahead both tomorrow and Friday.
Thursday’s Coin Flip
It’s always fascinating to see how technical levels can line up with fundamental reports. The most recent example is seen through both the S&P futures and SPX. Let’s review where and what those are, and what they might mean into tomorrow.
Volume and Volatility Entries
What is working as we start 2023? 1) Sticking with daytrading and 2) Focusing on volume and volatility levels. In fact, it is imperative we continue to put more emphasis on measuring volatility in our trading plan.
