SPX SPY ES for 5/7/24

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

As mentioned in the weekly plan and the plan for today we have seen no sign of meaningful sellers since our big seller covered Thursday, leaving a massive excess low. The index has not yet found balance, with the daily making higher highs and higher lows with two consecutive gap ups. Until this changes, our bias will be toward dip buying for longs. Shorts are presumed to be scalps only until proven otherwise.

For those that missed the deadline for the price increase, I’ve included a discount as I always do that will be available for a short period of time for those that just missed the deadline. The link can be found here 20% off for Life

Today ended on a large spike up away from value. Whether or not this spike is accepted will be our first clue tomorrow about the continued strength of buyers

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.