SPX SPY ES for 6/4/24

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

Limited recap today due to the hospitalization of a family member. The look above and fail short setup played out early and the day was a continuation short until sellers exhausted out. Anything beyond 5270 was a bonus for runners.

Bulls ultimately snapped price back up in what was almost a mirror of last week. Value developed lower and lower all day (like last week) until sellers exhausted out and nearly the entire move was retraced. It was eerily similar. Once the 53-64 was reclaimed and bid, price rallied continuously into the close, ending with a bit of a squeeze. The low today was a fantastic low, as was Friday’s. Let’s see if bulls are ready to press here or if additional back testing is needed. JOLTS and factory orders tomorrow at 10:00

The new Discord process is nearly full automated and keys off of stripe. Once a stripe transaction is posted, new subscribers will get the below email with instructions for access. Members will be automatically removed from Discord the day after their Substack subscription expires. Substack usually offers a bit of a grace period following a billing failure to allow members to maintain their legacy pricing and a fresh invite should generate once billing is updated. To reiterate from previous posts, any trial that is offered on Substack does not include Discord access.

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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.

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