Market Analysis and Trades for 4/11
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The weekly post and for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead
In last night’s plan and in the Discord I mentioned that the 5530s (5529-5534 was our level) was the first spot I would be looking to short a lower high. The overnight session hit 5529 and dropped nearly 400 handles to today’s low. Once the cluster of Friday/Monday/Tuesday highs were lost, the liquidation accelerated.
We were watching RTY for an early clue of potential ES weakness from the premarket update in Discord (also mentioned on Ninja Trader Live):
Notice when 1853 was offered from below on RTY at 11:05 ES went straight down thereafter until RTY nearly completed its full target of 1792.4.
I only find this trick relevant when there are identical characteristics across the various indices (ES NQ YM RTY
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