Market Analysis for The Week Ahead
Updated to Include the Link to the Updated PharmD_KS Indicator for Tradingview
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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. See the Link here: PharmD_KS Indicator
I posted a “Trading Doggy Style Starter Kit” that I think will benefit both free and certainly paid subscribers. I will continue to build this out over time with additional videos, examples, and explanations. It was updated last week with some additional content.
Trading Doggy Style Starter Kit V2
Last week for SPY 0.00%↑ our immediate attention was on last week’s high (5996.75 ES) after the bullish appearing weekly hammer. Our major upside target for this move was 6060-6063 where we planned to become cautious.
As it turns out we monitored a very large seller start in as low as the 6050s, take a solid 15 handles of heat, and he did nothing but “bet more.” There was a brief excursion above 6063 where, again, he just added more, and then the rug was pulled in the afternoon. Because of his presence my bias was to look for trades to the short side in spite of the incredibly bullish looking action. It took a while, and a couple attempts to trail him, but he finally got the breakdown.
Notice how character fully changed when 30-min OTFU ended and the 3-period balance was broken to the downside after the look above and fail of 6060-6063.
As seen on the 5:
Once back below the prior week high it was game over for buyers with the hammer signal negated and the week bearish engulfed.
IWM 0.00%↑ RTY is at a bit of a last line for me, DIA 0.00%↑ close in demand, QQQ 0.00%↑ (as of now) held its prior 4-day balance from 11/15-11/20 and SPY 0.00%↑ held its “hidden gap” from 10/30 close. These are all very big spots to hold, along with the 100sma for SPX, the election gap, and the bottom of this broad channel in which it has been trading since October of 2023.
As always, we will be prepared for both scenarios, but I’ll again provide my subjective analysis and lean.