SPX ES SPY Setups for 1/8/24

Trading Doggy Style registration has launched with the link posted in Discord. Please make sure to read this post about it HERE along with the course questions room in Discord. I don’t want anyone signing up not knowing what to expect. Registration will be open for a week or two depending on interest.

Discord policy may change to a wait period after the first of the year. Instructions for access (free for paid substack subscribers) are HERE. Reminder that it can take a couple days to get the invite link and ultimately assigned member status once in the “landing” area of Discord.

Friday was the second day in a row that buyers were trapped just above prior day VAH. Both days we had been long from much lower into these spots and both days we have closed or significantly trimmed our positions. On Thursday I only had a smaller runner with a stop in profit and wasn’t watching the action unfold, and therefore missed an opportunity for a nice short. We were prepared to not repeat that on Friday. Hopefully you enjoy the calves meme at the end from our friend Mr. Q that Swag was kind enough to share with impeccable timing. (Discord times EST-2 and this post was prepared Sat night so it says “yesterday.”)

As mentioned in the weekly post, what happened both Thursday and Friday should have us asking ourselves some questions about the relative strength of participants here.