Market Analysis for The Week of 5/24
Box is Box
If you are looking to join the Discord please see here: JOIN THE DISCORD Please email help@pharmdcapital.com if there are any technical issues. The daily and weekly plans are posted in the Discord so the Discord option includes Substack content, but a new Substack subscription does not include Discord access.
Be sure you have read the Starter Kit, including the free section even if you’re a paid subscriber. Trading Doggy Style Starter Kit
The 2026 Equity Markets Year Ahead can be seen here: 2026 Equity Markets Year Ahead
In last week’s plan we prepared for the scenario that sellers would bring the weekly timeframe into balance by taking out the prior week low (7363.25). The question from there, however, is whether that would lead to bearish continuation or a bear trap (at least in the short term).
The reclaim of 7398-7403 (up to perhaps 7409) would be the key reclaim for the week if 7363.25 were taken out.
For NQ the key reclaim was 29069-29090
The Tuesday cash session took out ES 7363.25 and NQ 28742 and these key reclaims were achieved on Wednesday:
Once the LBAF week was active our favored trades were longs, looking for at least 7482-7485 on ES and 29469-29487 on NQ with potential for the prior week high. NQ, ES, and SPX came quite close with QQQ making a slight new high. We now have a long weekend of potential headlines into a shortened week next week. The major trade for next week will be box trades as both major indices sit in a very clean box.
PAID CONTENT BELOW AND IN THE DISCORD