SPX SPY ES for 4/26/24

NOW can I Fire the Rocket Emoji?

If the index has seemed schizophrenic to you the last couple of days I would urge you to read my free series on volume profile at the link mentioned below. If you look at the last 2 weeks (last week and this week so far) the value area and VPOCs are nearly identical. Yesterday price looked above the value area high, rejected, and resolved lower. Today price looked below the value area high, rejected, and resolved higher. On such a failure of either side price is expected to revert back to VPOC, and from there can test the other side of value.

While many of us were short from the 5120s, we were prepared for this eventuality.

Following MSFT 0.00%↑ and GOOGL 0.00%↑ earnings, and with PCE in the morning, while buyers have the strength to sustain bids at prices above this range? If not, then I would once again expect resolution to the 5101-5105 range.

The full weekly plan and commentary should be reviewed ahead of this post and can be seen HERE.

Seats are once again available for Trading Doggy Style school. Learn more here: Learn it For Yourself

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.

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.