Hi everyone,
This one will be quick
Its a weekly closing and I got both daily and weekly Major support at 3721-22SPX on closing level.
- S2 is at 3709
- 100% extension off Aug 16 and Sep 12th highs is at 3680SPX
We have Powell speaking at 2pm Eastern
My trading plan for tomorrow:
- currently short, both ES and NQ (ES entered at 3769.50, stop 10 points)
- exit ES at 3936
- looking for a low before Powell, ideally in first couple of hours of the trading day - 3721-3709SPX and possible extension (less odds) 3680SPX (has a perfect 1.618 fib for the ES extension lower)
- will buy lotto calls if we see second number
- exit at the EOD ideally at 3770 level
I will be entering with some lotto Monday puts if we get EOD rally and fail before the close
Most important number is 3721SPX tomorrow! Closing below will bring 3660 and 3636SPX next week if not lower!
There is a potential crash scenario on Monday if we get the rally into the close and fail to close on the highs.
Have a good night!
This one will be quick
Its a weekly closing and I got both daily and weekly Major support at 3721-22SPX on closing level.
- S2 is at 3709
- 100% extension off Aug 16 and Sep 12th highs is at 3680SPX
We have Powell speaking at 2pm Eastern
My trading plan for tomorrow:
- currently short, both ES and NQ (ES entered at 3769.50, stop 10 points)
- exit ES at 3936
- looking for a low before Powell, ideally in first couple of hours of the trading day - 3721-3709SPX and possible extension (less odds) 3680SPX (has a perfect 1.618 fib for the ES extension lower)
- will buy lotto calls if we see second number
- exit at the EOD ideally at 3770 level
I will be entering with some lotto Monday puts if we get EOD rally and fail before the close
Most important number is 3721SPX tomorrow! Closing below will bring 3660 and 3636SPX next week if not lower!
There is a potential crash scenario on Monday if we get the rally into the close and fail to close on the highs.
Have a good night!