This is setting up similary to July 6th (see chart below):
ES has barely touched my first bearish math target and is looking like its on track to hit at least the first bull target at 3989. This shows that people are not immediately dumping this (however, things can change around 3 am).
Overall, I am somewhat long biased (intra-day at least) on this and the S&P for the first few days. I expect some consolidation/chop here but I do expect the mathematical bull targets (at least the first one) to be reached. Will likely switch to short bias after Thursday.
Will post a more in-depth analysis on SPY/S&P at some point tomorrow. Just posting this to articulate my immediate thoughts here and the fact that my plays today are, at this point, long.
@amriesingh, Hi there, no unfortunately this is a private script I have created using stats. I have made a publicly accessible one for BTC and am on the fence about publishing my ES one. I may actually end up publishing it at some point in the near future if there is enough interest.
Thanks!
BluNight
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Thank you for the write-ups you've put efforts into. May I ask if SPY is still on the path to touch 405 time series target you derived from last week?
Steversteves
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@BluNight, So far it seems like its still a possibility and still something I personally am keeping on the table for my own targets. SPY has not really convinced me its ready to start legging down just quite yet. And futures is confirming that. But I do expect this to be a very painful week with a lot of FUD and chop and I am not really anticipating an overly enjoyable trading week hahaha. I do promise I will post an analysis on SPY at some point tomorrow. I just know people expect in-depth stuff and have been feeling under the weather today. Thanks for your comment and feedback!
BluNight
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@Steversteves, No worries, hopefully you'll feel better soon!
Is the script available?
Thank you.