Hello and welcome to another installment of my daily e-mini trade plan. For any new readers, welcome! In this newsletter I discuss levels, scenarios and market analysis for the S&P500 market.
Also, I recently released my first educational post and I am very excited to share it with you. I was so excited to share with readers that I released it early and plan to continue to add to it over the coming days. Check it out here.
Hello folks, it was another boring session. I did not even place a trade today.
My plan last night was if we remained supported above 12800 on NQ, this would open the door back up towards 4060 on ES and 13000 on NQ.
The move came during the overnight session. We broke back above 12800 on NQ and 4030 on ES at the European open (03:00EST).
We remained buoyant above these two levels into the US cash session open.
I was not interested in chasing longs at the open after we had already moved up from 4033 and nearing 4050/60 support.
At the open, I had told myself I was probably only getting long ES if we retested my 4033 support level to target 4060. Unfortunately, I watched this exact scenario come and go without getting a position on.
What we are left with is a gap below us and a stubby little profile that probed higher this afternoon.
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