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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ which includes a free video should be reviewed prior to this. Market Analysis for the Week of 10/19
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In the plan for today, the most important levels were 6716-6719, 6741-6744, and 6763.25-6766.75. Strong sellers would broadly cap 41-44 as upside and take out and sustain below 6716-6719. Their last real line of defense was 6763.25-6766.75 which captured yesterday’s key lower high and both the SPX and ES inside week high’s from last week.
Sellers defended 41-44 early in the overnight session, but were brick walled at the 6716-6719 spot. They failed to firmly defend 41-44 from above until later in the European session, triggering a fresh test of 16-19. It held a second time and sellers had to cover. There was an attempt to defend the last line 6763.25-6766.75, but sellers failed (twice) to get back through 41-44 and a fresh round of covers ensued.
We have an “Inception Box” into CPI tomorrow, and will discuss how to play it in tonight’s plan.
Ninja Trader is doing a simulation environment competition with $400K to be given away to winners. I would encourage everyone to sign up and take a crack at it. IF there is sufficient interest I will chart multiple futures instruments this weekend, do a weekend livestream, and a premarket livestream to help everyone prepare. If only a few people sign up I probably won’t ignore the family all weekend, but you would still have the plans. I will also do a giveaway of 1 year free to the Discord AND the Trading Doggy Style course bundle. Again, if there is sign up interest. You can sign up via the links below
Arena Cup Challenge Registration
Paid Content Below or in the Discord
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