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The weekly post and video 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.
Not a whole lot has changed as we continue to make higher highs and higher lows but still remain below the island gap on QQQ 0.00%↑ and have not yet filled the gap on SPY either. AAPL 0.00%↑ has just reported and the market has not moved much as of now (perhaps waiting for the call). We have PCE in the morning premarket.
Sellers have still done nothing, as dips (even this afternoon’s aggressive dip on Trump tariffs) have been firmly bought. That said, this isn’t a great location to initiate new (swing) longs.
We continue to see decent selling come in above 6100 on ES and above 21700 NQ. As long as bulls continue to defend dips it is reasonable to expect we get through this selling. A bullish response to PCE and gap up into the above ranges would be helpful to bulls. Remaining below these gaps keeps bulls somewhat at risk.