SPX SPY ES for 5/14/24

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

Get 10% off for life This will be phased out this week, was changed to 10% and will be expiring mid-week. I always do this discount right after a price increase for those that just missed the increase.

If you read the free section of the plan for today, the premarket move up to precisely 5264 ES ( SPY 0.00%↑ Friday high of day) didn’t catch you off guard. The b-shaped profile retracement played out precisely. From the free section:

From there it was key to monitor the cash open for the presence of Friday’s 60s seller. We additionally were expecting some hedging flows to come in at the open. This was indeed the case as VIX futures (VX) continued higher throughout the day. From the weekly plan:

From here the plan is quite simple and we will be prepared to trade the response to PPI either direction.

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.

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.