SPX ES SPY Trades for 1/25/24
Was that Top or Naw?
Discord policy may change to a wait period in the near future. 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.
As tomorrow will be a major inflection in determining if today’s selloff is a continuation short or buyable pullback, I’ll make sure that anyone who requests discord access tonight gets an invite.
As mentioned in last night’s commentary, yesterday’s late day move into the close, followed by the NFLX reaction had me feeling a bit uneasy into today. We opened on a rather large gap up that was initially sold at open but ultimately resolved higher to our 4831 level. I had added this morning that I was expecting some digesting to begin in the 4918.25-4940 range. Instead we saw a bit if INdigestion in the last 3 hours. This potential bearish setup was cautioned in the discord just before it played out. From last night’s plan and today in discord (discord is EST-2):
The rest of tonight’s post will be focused on how we will identify if there will be continuation tomorrow.
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