SPX ES SPY Trades for 2/1/24
-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.
The bear case played out today following acceptance back below 4931.25-4934.25. All downside targets were hit including the full traverse of the 2 day profile, with some additional extension lower late in the day. From last night’s post:
Therefore, short setup 2 was the trade and worked all day at today’s cash hours high of day was 4930.5 :
Additionally, the NQ short from the weekend post played out to it’s primary target.
ES has not quite back tested its major breakout from 4840 which would be a key test for determining the path for the rest of the quarter. Tonight’s post will prepare for that test in case we see it directly or after AAPL earnings/
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