ES moved up overnight to the 5115 Gamma Wall (posted yesterday here) where price found resistance. 

ASPN also on watch along

Posted by steve on 29th of Feb 2024 at 09:16 pm

ASPN also on watch along with RVNC and CFLT

Digi, thanks for your response! I appreciate your explanation, and I enjoy descriptions of your thoughts throughout the trading day.

SIDU - big volume today

Posted by timebandit on 29th of Feb 2024 at 07:29 pm

SIDU - big volume today on news

A bank in New York

Posted by DigiNomad on 29th of Feb 2024 at 07:23 pm

A bank in New York or California found to have serious internal control issues? No way     I wonder what their management and the regulators in those states are focusing on instead of the business of running banks? 

5115 ES a BIG GAMMA

3/1 ES Levels March Contract  (ESH24) 

Posted by steve on 29th of Feb 2024 at 06:36 pm

5115 ES a BIG GAMMA LEVEL - price rejected there today.   ES Support 5080/75 

It's possible today's move up was a corrective a-b-c  should bulls fail to hold serve.  Simply follow your plan 

THanks foody

Thursday Newsletter

Posted by steve on 29th of Feb 2024 at 06:34 pm

and....no k1 which is nice!

KRP - oil and gas

Posted by foody518 on 29th of Feb 2024 at 05:18 pm

KRP - oil and gas royalty company, yet another energy related name in a longer consolidation. 10% dividend. Daily small bull flag breakout

Sentiment

Posted by steve on 29th of Feb 2024 at 05:13 pm

For those that track Magazine Covers 

Futures  got to 18,069 so far . 

We still figuring on a 18,200-300 target?

Basically a variation of that. I'm looking for "crown reversals." Price crosses a supply or demand level (up or down), then reverses and crosses the 21 EMA in the other direction, then crosses the 21 again on a retest of the broken level...at that point the trap is set.  The 1st candle completely over the 21 in the direction of the reversal is the trigger.  It looks like a crown on the chart.   I think there were 7 almost textbook ones on SPX yesterday and 2 the day before. Today wasn't as straightforward.  AAPL was a good example today.

I have been using a 1 min and 10 sec chart. The earlier you spot it, the better your odds .  The problem with today was that the retrace wasn't going back through the 21 EMA so I didn't take many trades. 

Digi, by reversal/trap do you

Posted by tradeit007 on 29th of Feb 2024 at 04:14 pm

Digi, by reversal/trap do you mean a false breakout up or down followed by price exceeding a nearby milestone price? 

Hope you get some meds

Tough couple days for me

Posted by rmoore100 on 29th of Feb 2024 at 04:13 pm

Hope you get some meds and rest Matt.....and get over that quickly.   Take it easy.

SPX - went against my

Posted by DigiNomad on 29th of Feb 2024 at 04:12 pm

SPX - went against my trading plan at the last minute...traded against the trend towards the close. I was about to punch out but I figured there would be a pressure release after the close (common lately). Got lucky and it let me out green.

Heading to the gym. Hopefully people don't get to concerned when they see me beating my head against the way and repeating "don't fight the trend, don't fight the trend, don't fight the trend, don't fight the trend!" 

NQ 200 points off 17,900

NQ support 17,967/78 then 17,900/875

Posted by steve on 29th of Feb 2024 at 04:08 pm

NQ 200 points off 17,900 support 

Yeah, hope you get better

Tough couple days for me

Posted by DigiNomad on 29th of Feb 2024 at 04:07 pm

Yeah, hope you get better soon. We need you in the trading on wild days like these! 

Hope you feel better very

Tough couple days for me

Posted by Trendie on 29th of Feb 2024 at 04:06 pm

Hope you feel better very soon. Doesn't sound fun.

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