Market Analysis and Trades for 7/8

Turnaround Tuesday or a Meaningful Pullback?

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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead

The narrative for today’s pullback was Trump Tariff Talk. However, as discussed in the weekly plan, NAAIM had hit effectively 100, ES had been riding its +2 Bollinger Band for 8 days, and reached its +2 standard deviation of the 2024 VWAP which had been relatively key all 2024.

This was a sensible place to pause. There is once again plenty of room for a daily higher low to form. The weekly plan discussed potential locations for this and the daily plans this week (and in Discord) will monitor the development of execution setups at these locations.

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