SPX ES SPY Setups for 11/21
Another Upside Balance Breakout
Note: Discord is currently still available for new subscribers but as of the first of the year or possibly sooner, this policy will be changing. If you are looking for Discord access, see below instructions. Be aware it takes a few days to validate user info and gain access so please be patient.
Discord Access Instructions
For existing members, we will begin granting discord access immediately. At the end of the weekend, we will probably have to pause for a few days to get caught up with existing members. We will start adding new members that join next week on the following weekend. Here are the instructions for access.
As of Friday, ES had been consolidating above the halfback (4518) of this current balance range (roughly 4500-4536). We had used 4517.75 as a pivot with awareness of 4514 below and it held all day Friday. We had levels to consider longs including 4523.5 and 4520.75 for top of the balance longs. It turned out these levels worked quite well today. The overnight low was 4520 with a higher low at 4523.25 in the last hour before open, and the RTH low was 4524.5. The opening drive higher was aggressive, taking out last week’s RTH highs, and then consolidating above last week’s VAH (and volume balance high), leaving single prints behind in A period (0930-1000). After tagging our 4543 level the pullback held 4534 above last week’s VAH, preserved the A period singles, and resumed trending higher. Single prints were again left behind in H period (1300-1330), taking us to our major upside target of 4560-66 and clearing some supply (HOD 4571). Tonight’s plan will discuss where we will buy the dip and where we might consider selling a rip.