Market Analysis and Trades for 4/29
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The 2026 Equity Markets Year Ahead can be watched here: 2026 Equity Markets Year Ahead
The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 4/26
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In spite of the fact that equities continued framing higher after yesterday, I found myself more interested in the short side due to something I saw in the profiles. The short was if 7198-7201 was lost and flipped to resistance which offered a potential cascading short setup.
7198-7201 was lost and offered overnight, leading to a rapid liquidation break down to the 7144.5-7147 weekly level. The opening drive was capped by 7177-7182 which allowed for a retest of the overnight low and same weekly level.
This was the one spot that could potentially negate a full move to 7115.5-7121 as it happened to contain Friday’s low (the breakout day from the multi-day balance). From the plan for Monday over the weekend reiterated in the Discord today:
ES certainly put in a lower wick on the daily candle, but the prior multi-day breakout has yet to re-confirm. Hint- if you have read recent recaps, you know exactly what the trade is for tomorrow.
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