-For those that trade SPY/SPX, there is an ES to SPY/SPX converter in Tradingview. See announcements in the Discord.
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Sunday night futures opened on a gap down on concerns of an escalation with Iran. it was easy to get very bearish. This ended up turning into nothing but our first dip buy long scenario.
Given the after-hours close on Friday (so close to 4911.75) it was important to be very detailed with how this long might play out. It ended up turning into a blended scenario of both setups as Friday’s cash hours low was taken out during Globex (never threatened during cash hours today). You may have noticed that this often occurs with my setups. The 2nd dip buy setup triggers the 1st back in force. This is not unintentional as the 2nd setup gives the first setup more thrust.
You can see that once 4910-13 was reclaimed it was defended all night and during the cash session.
It is my goal to be objective at such times and focus on price.
That said, the market has an expressed an interest in taking the situation seriously and I will be monitoring it closely.
We did indeed make a new ATH today, breaking out of the recent 3-day balance. Maintaining this breakout will now be key.