Market Analysis for the Week of 7/5
Trapped
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 market remains trapped in a massive multi-week balance so two-way trading continues to be expected. Bulls retain control of high time frames as a prior month low has not been taken out. Intermediate time frames are neutral (the above referenced multi-week balance) and short time frame control has flipped back and forth which is fully characteristic of a multi-week balance. Longs are favored when buyers control the short-term trend, and shorts are slightly favored when sellers control the short-term trend. The ultimate break from this balance is likely to produce a large move. Trend traders are better served sitting out on the index and focusing on individual names which are trending (such as our HD long in the Discord). However, for those of us who excel at trading both sides, this range has been an absolute money printer of enormous trades. Understand the market environment and understand your strengths. I personally love balance/range/reversion trading and believe I am successful in preparing subscribers for these situations, but it isn’t for everyone. If you are interested in expanding your skill set then join us, but either way there is no shame in avoiding a market environment that doesn’t suit your trading style. Based on where NQ closed Friday’s ETH session, I am expecting a large move (roughly 369 handles) in either direction from here.
JOIN THE DISCORD for the intro course, weekly and daily plans, real time commentary and trade setups and swing trade alerts.