SPX SPY ES for 4/17/24

The first 5 parts in my free series explaining some basic profile concepts is now available at www.pharmdcapital.com. Click PharmDCapital This section and other free material will be added to over time. Scroll down to the “Want a Taste” section to read it.

The full weekly plan and commentary should be reviewed ahead of this post and can be seen HERE. This includes the 3-week box setup that could present some amazing and large trades this week.

Tomorrow is a pivotal day for the index that will likely make or break many accounts. There is potential for a very large move one way or another and we will want to be positioned properly for that. All the major indices are at major spots which is why we were careful pressing shorts into today. The indices are oversold but oversold can get more oversold. Our read on QQQ 0.00%↑ likely determines where SPY 0.00%↑ goes from here.

Discord Instructions for access (free for paid Substack subscribers) are below

To learn more about how I trade, see the post “What is Trading Doggy Style” Here

-For those that trade SPY/SPX, there is an ES to SPY/SPX converter in Tradingview. See announcements in the Discord.