Market Analysis and Trades for 5/19
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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 5/17
Both ES and NQ provided a very nice long overnight. NQ got a push into the 28955-28990 weekly level and triggered the LBAF of 29069-29090. While this worked all night off the low, the rally into the open triggered today’s LAAF short, failing above 29383-29397. From the weekend plans:
The long produced more than 400 handles of upside and the short produced nearly 600 of downside before running into the weekly 28800-28817 level.
I’ll spend a bit of time in tonight’s plan discussing how the current market environment has changed and how we must adapt. I’ll likely put together a video on this topic in the neaqr future.
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