SPX ES SPY Trades for 1/29/24
-For those that trade SPY/SPX, there is an ES to SPY/SPX converter in Tradingview. See announcements in the Discord.
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.
-To learn more about what this Substack offers, please click HERE. I would like to avoid people signing up before they know what they are getting.
This week we will be watching NQ/QQQ very closely for early clears on the direction of ES/SPX/SPY. Be sure to read the bonus post from this weekend on the Qs seen HERE
The weekly post on ES/SPX/SPY is HERE
Thursday ended on a massive rip higher into the close after seeing major selling for much of the day for the 3rd out of 4 days. Some commentary provided Thursday night that will be key to watch early this week:
Friday attempted a similar end of day rally with an extremely similar setup, but this rally was rejected, and price closed in the lower third of Friday’s range. This puts sellers in a decent position to accomplish their first objective, taking out a prior day’s low. Monitoring for this, and traction below a prior day low, will be the first sign of potential weakness.