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The new update for the PharmD_KS indicator has now been published. It now has both sections broken out for NQ and also has a wildcard ticker that you can use for anything that we may be trading. Add it to your favorites and copy and paste the levels (including all the text will still work) See the Link here: PharmD_KS Indicator
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
Be sure you have read the Trading Doggy Style Starter Kit. I will be adding to this over time, likely first focusing on example executions. Trading Doggy Style Starter Kit. A recent update has been made with some additional content.
Today SPY 0.00%↑ opened on another large true gap up after NFLX 0.00%↑ earnings and some well received comments from President Trump regarding AI investments. SPX made a slight new all-time high, whereas ES effectively back tested its FOMC breakdown level. We still have not taken out a prior day low during cash hours since the 3-day balance break to the upside. Given this, there has still been no reason to attempt to meaningfully fade this move. Shorts, if taken, are to be considered scalps/day trades until that changes. I’ve decided to make the weekly video public now that the move has played out. It may or may not prove useful for the rest of the week (likely depending on how tomorrow trades) but at minimum it should prove educational.
The weekly video can be seen here Jan 19th Weekly Plan
I’m sure we’ll have a few “double top” callers on social media today, so I’ll include some of my thoughts below along with a bit of an excursion into macro with tonight’s plan as I feel it is important headed into the end of this week and next week.