Market Analysis for The Week Ahead
UPDATED VERSION to accommodate the PharmD_KS Indicator Update
This is an edit and resend to accommodate the updated version of the PharmD_KS indicator script
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The PharmD_KS indicator script has been updated. Two major updates include the conversion from ES levels to SPY or SPX per your preference, and strong levels will be highlighted. It can be found here: PharmD_KS Indicator script
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Last week was all about the “failed escape” on ES and NQ and led us to finally take out the pesky 5724 level which had bothered me since November (the 4th time we had a daily low within a handle or so of that spot). The failed escape on NQ was projected to yield a 600-1200 handle drop once 20985 became resistance. It dropped 1220 handles.
Es triggered the same sequence, failing at 5997 as the cash hours high of the week, triggering the sequence below 5930, and ran for another 257 handles lower.
Our major target for covering most of our shorts and becoming open to longs was 5733.5-5744.25 which was Tuesday’s low (5744).
From there we looked for the other side of the broadening formation we had used to identify the potential top at 6145.66 SPX, which roughly corresponded to the July ATH on SPX of 5669.69. This was posted the night before and in real time on X as well. From Thursday night’s plan:
This also corresponded to a major area from The Year Ahead video which can be reviewed here: The YEAR Ahead
We had already been adding long exposure (specifically AMD 0.00%↑ ) and added swing index exposure on Friday off the hold of this spot. The question we now must answer, is whether that was THE low, or simply a swing low to search for a lower high.
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