remember for a trend day market gaps and remains strong until
about 1 pm EST. Then you typically have a 1hr consolidation
until around 2 pm, allowing price to recycle back near the 50 SMA
on a 5 min and MACD near zero, and then you'll typically get
another pop that afternoon
$SPX - Chart Link - so we got our bounce
off the 50 SMA and VWAP for a trade. The fast stochastic has
worked up to overbought already. so we'll see if we can still make
a new intra day high this afternoon. Anyway I went long on
that VWAP and 50 SMA ES futures - as I gave you heads up earlier
on.
Update: SPX 5 min and 15 min commentary
SPX 5 min and 15 min commentary
Posted by matt on 5th of May 2020 at 11:44 am
$SPX - Chart Link - updated view.
remember for a trend day market gaps and remains strong until about 1 pm EST. Then you typically have a 1hr consolidation until around 2 pm, allowing price to recycle back near the 50 SMA on a 5 min and MACD near zero, and then you'll typically get another pop that afternoon
still targeting that gap area above
Update: Update: SPX 5 min and 15 min commentary
Posted by matt on 5th of May 2020 at 12:55 pm
$SPX - Chart Link - targeting around that 50 SMA on this pullback. Then possibly have another push in the afternoon to fill the overhead gap
Update: Update: Update: SPX 5 min and 15 min commentary
Posted by matt on 5th of May 2020 at 02:10 pm
$SPX - Chart Link - so we got our bounce off the 50 SMA and VWAP for a trade. The fast stochastic has worked up to overbought already. so we'll see if we can still make a new intra day high this afternoon. Anyway I went long on that VWAP and 50 SMA ES futures - as I gave you heads up earlier on.
Update: Update: Update: Update: SPX 5 min and 15 min commentary
Posted by matt on 5th of May 2020 at 02:53 pm
$SPX - Chart Link I'm still long with stop at the last higher low, MA ribbon pinching again now needs to bust through the trendline
so far price stalled at
Posted by matt on 5th of May 2020 at 02:36 pm
so far price stalled at the double top intra day high
Hey Matt - As symmertry
Posted by z0ned on 5th of May 2020 at 02:25 pm
Hey Matt - As symmertry was broken (the second pull back of the day was greater than the first), are we looking for a lower high? - Thx!
intra day that's a valid
Posted by matt on 5th of May 2020 at 02:38 pm
intra day that's a valid point - so far the SPX has failed to take out the morning high, so that could be the intra day symmetry break playing out
SPX 5 vwap and 50
Posted by steve on 5th of May 2020 at 01:29 pm
SPX 5 vwap and 50 period MA bounce
haha so they have to
Posted by RP on 5th of May 2020 at 12:12 pm
haha so they have to charge up the machines got an old guy with wd40 keeping wheels lubed..