SPX ES SPY Trades for 2/8/24

RECAP:

SPX/SPY/ES

The subtitle of last night’s post was “Breakout Tomorrow?" and we certainly did. After trading higher in the early Asia session prices slowly consolidated back toward our 4968 level, but yesterday’s 4970 “pop-seller” became today’s “dip-buyer” and we got an enormous move straight up into the open. I suspect I wasn’t alone in looking for news when I first saw this move. We then saw another enormous squeeze after sellers (poorly) attempted to defend last week’s high, resulting in a double distribution day to the upside today. Buy the dip remains strong until proven otherwise.

TSLA

TSLA provided the dip buy opportunity from last night’s post seen HERE and left some additional interesting profile characteristics that we will add upon at the bottom of today’s post as I have added and updated a few levels.

-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.