Market Analysis and Trades for 6/5
If you are looking to join the Discord (now separate from the newsletter) please see here: JOIN THE DISCORD Please email help@pharmdcapital.com if there are any technical issues. Plans/levels will be posted in the Discord so the Discord option includes Substack content but a new Substack subscription does not include Discord access.
Be sure you have read the Starter Kit, including the free section even if you’re a paid subscriber. Trading Doggy Style Starter Kit
The FREE 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 5/31
In the free weekly plan we were expecting NQ to find active buyers in the area between the two weekly levels, 30110-30129 and 30242-30269.
There would be clarity in strength above 242-269 inclusive of a look below and fail (LBAF).
Buyers were incredibly reactive between the two weekly levels and then back above 242-269, triggering a break of the IB high. From there NQ worked up the weekly levels, stalling at the 600-617 level. The last 30 minutes saw some selling and futures bled out a bit after the bell. My thoughts below.
Paid Content Below or in the Discord