Market Analysis and Trades for 7/29

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 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 7/27

Today was a bit of a hangover day after the Sunday night gap into the 6450s, the second major target for the prior range break. The move into the overnight high was greater than the entire range for Friday so seeing a bit of a hangover is not unreasonable. There are two long setups for tomorrow which I really like. That doesn’t mean that they will set up, but both are better than anything we saw today. NQ offered decent longs in the first hour as it’s true gap up held.

NQ held (twice) the 23469-23476 weekly spot (Friday’s high) and rallied to the 23523-23540 spot before ultimately breaking down a bit

ES opened inside Friday’s range so it required patience. We took a long at 6417 which resolved for 13 handles. This seems small but given the range of the entire day was 25.5 handles I suppose it isn’t terrible. It was a planned trade but given it was below the IB low it may have been more difficult to take so I called out my entry and stop when I saw some decent absorption. From the Daily plan and Discord:

Hopefully the events of this week open up ranges a bit. If not, I’ll likely focus more on NQ but tonight’s plan has an excellent setup for both ES and NQ

Paid Content Below or in the Discord

JOIN THE DISCORD